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Centerpoint Energy (CNP) Gets a Buy from J.P. Morgan

J.P. Morgan analyst Jeremy Tonet maintained a Buy rating on Centerpoint Energy (CNPResearch Report) yesterday and set a price target of $37.00. The company’s shares closed yesterday at $32.51.

Tonet covers the Industrial Goods sector, focusing on stocks such as Cheniere Energy, Oneok, and TC Energy. According to TipRanks, Tonet has an average return of 7.3% and a 61.81% success rate on recommended stocks.

In addition to J.P. Morgan, Centerpoint Energy also received a Buy from RBC Capital’s Shelby Tucker in a report issued on August 10. However, on August 8, Goldman Sachs maintained a Hold rating on Centerpoint Energy (NYSE: CNP).

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CNP market cap is currently $20.47B and has a P/E ratio of 13.31.

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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.

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