Tealwood Asset Management Inc. Takes Position in CenterPoint Energy, Inc. (CNP)

Tealwood Asset Management Inc. acquired a new stake in CenterPoint Energy, Inc. (NYSE:CNP) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 103,742 shares of the utilities provider’s stock, valued at approximately $3,185,000. CenterPoint Energy makes up approximately 1.4% of Tealwood Asset Management Inc.’s holdings, making the stock its 25th largest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Financial Architects Inc bought a new position in CenterPoint Energy during the 4th quarter worth about $28,000. PRW Wealth Management LLC bought a new position in CenterPoint Energy during the 4th quarter worth about $29,000. Claybrook Capital LLC bought a new position in CenterPoint Energy during the 4th quarter worth about $31,000. Sound Income Strategies LLC increased its holdings in CenterPoint Energy by 793.7% during the 4th quarter. Sound Income Strategies LLC now owns 1,126 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Parallel Advisors LLC increased its holdings in CenterPoint Energy by 89.4% during the 4th quarter. Parallel Advisors LLC now owns 1,352 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 638 shares in the last quarter. Institutional investors and hedge funds own 81.37% of the company’s stock.

In other news, VP Joseph John Vortherms sold 2,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $30.10, for a total value of $60,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Scott M. Prochazka sold 4,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $29.98, for a total value of $119,920.00. The disclosure for this sale can be found here. Insiders sold a total of 132,000 shares of company stock valued at $3,983,610 in the last 90 days. 0.24% of the stock is owned by corporate insiders.

A number of equities analysts have issued reports on CNP shares. Zacks Investment Research upgraded CenterPoint Energy from a “hold” rating to a “strong-buy” rating and set a $33.00 target price for the company in a report on Tuesday, January 8th. Guggenheim upgraded CenterPoint Energy from a “neutral” rating to a “buy” rating in a report on Monday, January 7th. Royal Bank of Canada upgraded CenterPoint Energy from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $29.00 to $34.00 in a report on Friday, January 18th. Wells Fargo & Co reiterated a “buy” rating on shares of CenterPoint Energy in a report on Monday, December 24th. Finally, Goldman Sachs Group started coverage on CenterPoint Energy in a report on Monday, February 25th. They set a “buy” rating and a $34.00 target price for the company. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $31.60.

Shares of NYSE CNP traded down $0.04 during mid-day trading on Monday, hitting $30.53. The company had a trading volume of 98,730 shares, compared to its average volume of 4,048,132. The stock has a market capitalization of $15.38 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 3.53 and a beta of 0.46. The company has a debt-to-equity ratio of 1.37, a current ratio of 2.13 and a quick ratio of 2.01. CenterPoint Energy, Inc. has a one year low of $24.81 and a one year high of $31.42.

CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings data on Thursday, February 28th. The utilities provider reported $0.36 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. The company had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $2.66 billion. CenterPoint Energy had a return on equity of 14.16% and a net margin of 3.48%. During the same quarter last year, the company earned $0.33 EPS. On average, sell-side analysts expect that CenterPoint Energy, Inc. will post 1.64 EPS for the current year.

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CenterPoint Energy Profile

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.

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

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