CenterPoint Energy price target lowered to $32 from $35 at Argus

Argus lowered the firm’s price target on CenterPoint Energy to $32 from $35 and keeps a Buy rating on the shares. The company’s Q2 results topped consensus expectations and its management signaled confidence in its outlook with a 6% increase in the dividend, though the firm is reducing its target price due to the recent secondary share offering of 9.75 million shares at a price of $25.63 and the recent inquiry into the actions taken during Hurricane Beryl, the analyst tells investors in a research note.