Investors Purchase Large Volume of CenterPoint Energy Put Options (NYSE:CNP)

CenterPoint Energy, Inc. (NYSE:CNP) was the target of some unusual options trading activity on Tuesday. Stock investors purchased 10,004 put options on the company. This represents an increase of approximately 1,186% compared to the average volume of 778 put options.

CenterPoint Energy Stock Performance

Shares of NYSE CNP traded down $0.22 during midday trading on Tuesday, hitting $42.43. 1,765,553 shares of the company’s stock were exchanged, compared to its average volume of 5,921,383. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.15 and a quick ratio of 0.97. The stock’s 50 day moving average price is $39.23 and its 200-day moving average price is $41.55. The firm has a market cap of $28.12 billion, a P/E ratio of 24.23, a PEG ratio of 2.75 and a beta of 0.47. CenterPoint Energy has a twelve month low of $36.37 and a twelve month high of $45.26.

CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings data on Tuesday, October 27th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.03. The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.17 billion. CenterPoint Energy had a return on equity of 11.16% and a net margin of 11.76%. During the same period in the prior year, the company posted $0.50 EPS. Equities research analysts anticipate that CenterPoint Energy will post 1.91 EPS for the current year.

CenterPoint Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Thursday, November 19th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $0.96 annualized dividend and a dividend yield of 2.3%. CenterPoint Energy’s dividend payout ratio is presently 54.86%.

Institutional Investors Weigh In On CenterPoint Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Keating Financial Advisory Services Inc. acquired a new position in CenterPoint Energy during the 2nd quarter valued at about $27,000. MidFirst Bank bought a new stake in shares of CenterPoint Energy during the 2nd quarter worth about $38,000. Transamerica Financial Advisors LLC bought a new stake in shares of CenterPoint Energy during the 2nd quarter worth about $40,000. Pin Oak Investment Advisors Inc. acquired a new stake in shares of CenterPoint Energy in the 2nd quarter worth approximately $44,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in shares of CenterPoint Energy in the 2nd quarter worth approximately $54,000. 91.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CNP shares. Royal Bank Of Canada began coverage on CenterPoint Energy in a research note on Tuesday, September 15th. They set a “sector perform” rating and a $40.00 price objective on the stock. Mizuho set a $43.00 price objective on shares of CenterPoint Energy in a research report on Wednesday, October 28th. Evercore set a $43.00 target price on CenterPoint Energy in a report on Monday, August 17th. Jefferies Financial Group reaffirmed a “buy” rating on shares of CenterPoint Energy in a research report on Thursday, October 29th. Finally, Morgan Stanley boosted their price target on shares of CenterPoint Energy from $38.00 to $39.00 and gave the company an “equal weight” rating in a report on Wednesday, October 21st. Ten analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.29.

About CenterPoint Energy

CenterPoint Energy, Inc is a public utility holding company that provides electric and natural gas energy services in the United States. Its operations include electric transmission and distribution, natural gas distribution, and related infrastructure services for residential, commercial, and industrial customers.

The company is the primary electric delivery utility for the Houston, Texas, area and operates electric and natural gas businesses in several states, including Texas, Indiana, Ohio, Louisiana, and Mississippi.