Elliott Associates Ups Its CenterPoint Stake $CNP
Elliott Associates a stake in CenterPoint Energy (CNP). Paul has been an active man of late - mostly in the tech space.
CenterPoint is a utility company, distributing electricity and natural gas, and operating pipelines. But like Carl Icahn's style drift with oil and commodities, is Singer drifting? He's also recently taken a stake in aluminum company Alcoa (AA).
The CenterPoint revelation comes after an FTC filing, where it was granted approval for an acquisition involving the company.
You have to love the yield that regulated markets are offering in this low-yield environment, am I right? More importantly, Elliott's likely looking to use its muscle in the mergers and acquisition market to force consolidation as higher rates threaten utilities. This will help offset rising costs from new regulations as well.