Dynamic Technology Lab Private Ltd bought a new stake in shares of CenterPoint Energy, Inc. (NYSE:CNP) during the 3rd quarter, Holdings Channel reports. The fund bought 79,036 shares of the utilities provider’s stock, valued at approximately $2,185,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Braun Bostich & Associates Inc. grew its stake in CenterPoint Energy by 1,372.0% in the second quarter. Braun Bostich & Associates Inc. now owns 4,151 shares of the utilities provider’s stock worth $115,000 after purchasing an additional 3,869 shares during the period. Ropes Wealth Advisors LLC purchased a new stake in CenterPoint Energy in the second quarter worth $130,000. Signet Financial Management LLC grew its stake in CenterPoint Energy by 649.6% in the second quarter. Signet Financial Management LLC now owns 5,322 shares of the utilities provider’s stock worth $147,000 after purchasing an additional 4,612 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its stake in CenterPoint Energy by 422.1% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,396 shares of the utilities provider’s stock worth $177,000 after purchasing an additional 5,171 shares during the period. Finally, FNY Investment Advisers LLC grew its stake in CenterPoint Energy by 2,962.2% in the third quarter. FNY Investment Advisers LLC now owns 6,400 shares of the utilities provider’s stock worth $176,000 after purchasing an additional 6,191 shares during the period. 79.72% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CNP stock opened at $28.05 on Thursday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.90 and a current ratio of 1.06. CenterPoint Energy, Inc. has a twelve month low of $24.81 and a twelve month high of $29.36. The firm has a market capitalization of $14.06 billion, a P/E ratio of 20.47, a PEG ratio of 3.01 and a beta of 0.46.

CenterPoint Energy (NYSE:CNP) last released its earnings results on Thursday, November 8th. The utilities provider reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.02). CenterPoint Energy had a return on equity of 14.40% and a net margin of 15.15%. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same period last year, the firm posted $0.38 earnings per share. The company’s revenue was up 5.4% compared to the same quarter last year. As a group, equities analysts anticipate that CenterPoint Energy, Inc. will post 1.57 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Thursday, November 15th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 3.96%. The ex-dividend date is Wednesday, November 14th. CenterPoint Energy’s dividend payout ratio (DPR) is 81.02%.

In other CenterPoint Energy news, CEO Scott M. Prochazka sold 4,000 shares of the business’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $27.09, for a total value of $108,360.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.22% of the company’s stock.

Several brokerages recently weighed in on CNP. Zacks Investment Research cut CenterPoint Energy from a “buy” rating to a “sell” rating in a research note on Tuesday, October 9th. ValuEngine raised CenterPoint Energy from a “sell” rating to a “hold” rating in a research note on Thursday, September 6th. JPMorgan Chase & Co. upped their price target on CenterPoint Energy from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 9th. Wells Fargo & Co raised CenterPoint Energy from a “market perform” rating to an “outperform” rating and set a $30.00 price target on the stock in a research note on Monday, October 8th. Finally, Barclays set a $31.00 price target on CenterPoint Energy and gave the stock a “hold” rating in a research note on Saturday, November 17th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $29.44.

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About CenterPoint Energy

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company's Electric Transmission & Distribution segment offers electric transmission and distribution services to retail electric providers, municipalities, electric cooperatives, and other distribution companies.

Further Reading: Leveraged Buyout (LBO) Explained

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Institutional Ownership by Quarter for CenterPoint Energy (NYSE:CNP)

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