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BMO Capital Believes Centerpoint Energy (CNP) Still Has Room to Grow

In a report released today, James Thalacker from BMO Capital reiterated a Buy rating on Centerpoint Energy (CNPResearch Report), with a price target of $35.00. The company’s shares closed last Tuesday at $31.70, close to its 52-week high of $33.00.

According to TipRanks.com, Thalacker is a 5-star analyst with an average return of 10.9% and a 87.0% success rate. Thalacker covers the Utilities sector, focusing on stocks such as Constellation Energy Corporation, American Electric Power, and Eversource Energy.

Currently, the analyst consensus on Centerpoint Energy is a Strong Buy with an average price target of $33.00, a 4.1% upside from current levels. In a report issued on July 19, KeyBanc also maintained a Buy rating on the stock with a $32.00 price target.

See today’s best-performing stocks on TipRanks >>

Centerpoint Energy’s market cap is currently $19.95B and has a P/E ratio of 12.98.

Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CNP in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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