Canadian Energy Company Revisited by RBC Capital Analyst
In a report released yesterday, Shelby Tucker from RBC Capital maintained a Buy rating on Centerpoint Energy (CNP), with a price target of $23.00. The company’s shares closed last Monday at $20.80.
According to TipRanks.com, Tucker is a 5-star analyst with an average return of 7.2% and a 69.6% success rate. Tucker covers the Utilities sector, focusing on stocks such as Public Service Enterprise, American Electric Power, and Nextera Energy Partners.
Currently, the analyst consensus on Centerpoint Energy is a Hold with an average price target of $20.63.
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Based on Centerpoint Energy’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.58 billion and net profit of $105 million. In comparison, last year the company earned revenue of $1.66 billion and had a net profit of $195 million.
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CenterPoint Energy owns a portfolio of energy-related businesses. Its regulated electric utility provides transmission and distribution services to more than 2.5 million customers in the Houston area, southern Indiana, and west central Ohio. The company has natural gas distribution systems in seven states serving approximately 4.5 million customers. CenterPoint owns approximately 54% of Enable Midstream Partners, a partnership consisting of natural gas processing and storage facilities and more than 21,000 miles of interstate, intrastate, and gathering pipelines in the midcontinent region.