Credit Suisse analyst Michael Weinstein W. maintained a Buy rating on Centerpoint Energy (CNP) today and set a price target of $24.00. The company’s shares closed last Friday at $22.83.
According to TipRanks.com, W. is a 5-star analyst with an average return of 30.0% and a 66.1% success rate. W. covers the Utilities sector, focusing on stocks such as Nextera Energy Partners, Pinnacle West Capital, and Consolidated Edison.
Centerpoint Energy has an analyst consensus of Moderate Buy, with a price target consensus of $22.43, representing a -1.2% downside. In a report issued on October 27, Mizuho Securities also maintained a Buy rating on the stock with a $25.00 price target.
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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.
