In a report released today, Stephen Byrd from Morgan Stanley maintained a Buy rating on Centerpoint Energy (CNP – Research Report), with a price target of $33.00. The company’s shares opened today at $31.82.
Byrd covers the Utilities sector, focusing on stocks such as Ameren, American Electric Power, and Atmos Energy. According to TipRanks, Byrd has an average return of 11.3% and a 60.58% success rate on recommended stocks.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Centerpoint Energy with a $33.50 average price target.
CNP market cap is currently $20.11B and has a P/E ratio of 13.08.
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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.