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RBC Capital Maintains a Buy Rating on Centerpoint Energy (CNP)

In a report issued on July 19, Shelby Tucker from RBC Capital maintained a Buy rating on Centerpoint Energy (CNPResearch Report), with a price target of $34.00. The company’s shares closed last Wednesday at $29.38.

According to TipRanks.com, Tucker is a 5-star analyst with an average return of 9.7% and a 69.6% success rate. Tucker covers the Utilities sector, focusing on stocks such as Constellation Energy Corporation, Public Service Enterprise, and American Electric Power.

Centerpoint Energy has an analyst consensus of Strong Buy, with a price target consensus of $32.89, implying a 10.7% upside from current levels. In a report issued on July 15, J.P. Morgan also maintained a Buy rating on the stock with a $33.00 price target.

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The company has a one-year high of $33.00 and a one-year low of $24.33. Currently, Centerpoint Energy has an average volume of 4.8M.

Based on the recent corporate insider activity of 37 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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