CenterPoint Energy Earns BBB+ Credit Rating from Morningstar (CNP)
CenterPoint Energy (NYSE:CNP) has been given a “BBB+” credit rating by Morningstar. The agency’s “BBB+” rating indicates that the company is a moderate default risk. They also issued a positive credit outlook for the company and gave their stock a three star rating.
A number of other analysts have also recently weighed in on CNP. Analysts at Argus upgraded shares of CenterPoint Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 20th. They now have a $29.00 price target on the stock. Separately, analysts at SunTrust reiterated a “neutral” rating on shares of CenterPoint Energy in a research note on Monday, August 4th. They now have a $25.00 price target on the stock, down previously from $26.00. Finally, analysts at Credit Suisse reiterated an “outperform” rating on shares of CenterPoint Energy in a research note on Thursday, July 10th. They now have a $29.00 price target on the stock. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $27.43.
Shares of CenterPoint Energy (NYSE:CNP) opened at 24.88 on Thursday. CenterPoint Energy has a 52 week low of $22.46 and a 52 week high of $25.75. The stock’s 50-day moving average is $24.62 and its 200-day moving average is $24.27. The company has a market cap of $10.693 billion and a P/E ratio of 19.19.
CenterPoint Energy (NYSE:CNP) last announced its earnings results on Wednesday, August 6th. The company reported $0.25 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.23 by $0.02. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the prior year, the company posted $0.30 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. On average, analysts predict that CenterPoint Energy will post $1.17 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a dividend of $0.2375 per share. This represents a $0.95 annualized dividend and a dividend yield of 3.82%. The ex-dividend date is Wednesday, August 13th.
CenterPoint Energy, Inc is a domestic energy delivery company. The Company’s business segments include Electric Transmission and Distribution, Natural Gas Distribution, Competitive Natural Gas Sales and Services, Interstate Pipelines, Field Services and Other Operations.
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