Tudor Pickering Downgrades CenterPoint Energy to Hold

Brokerage firm Tudor Pickering Downgrades its rating on CenterPoint Energy(NYSE:CNP). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by Tudor Pickering was issued on Jul 5, 2016.

In a different note, On Jun 22, 2016, Wells Fargo said it Downgrades its rating on CenterPoint Energy. The shares have been rated ‘Market Perform’ by the firm. On May 12, 2016, Deutsche Bank said it Maintains its rating on CenterPoint Energy. In the research note, the firm Raises the price-target to $21.00 per share. The shares have been rated ‘Hold’ by the firm. On May 9, 2016, Goldman Sachs said it Upgrades its rating on CenterPoint Energy. In the research note, the firm Raises the price-target to $18.00 per share. The shares have been rated ‘Neutral’ by the firm.

CenterPoint Energy (CNP) made into the market gainers list on Fridays trading session with the shares advancing 1.62% or 0.38 points. Due to strong positive momentum, the stock ended at $23.9, which is also near the day’s high of $23.91. The stock began the session at $23.55 and the volume stood at 40,40,929 shares. The 52-week high of the shares is $24.2 and the 52 week low is $16.05. The company has a current market capitalization of $10,292 M and it has 43,06,19,430 shares in outstanding.

CenterPoint Energy(CNP) last announced its earnings results on May 10, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $1.98B. Analysts had an estimated revenue of $2.43B. Earnings per share were $0.32. Analysts had estimated an EPS of $0.31.

Several Insider Transactions has been reported to the SEC. On May 16, 2016, Joseph B Mcgoldrick (Exec VP – Div Pres) sold 9,000 shares at $22.23 per share price.Also, On Nov 18, 2015, Janiece M Longoria (director) sold 3,000 shares at $17.03 per share price.On Jun 2, 2015, Tracy B Bridge (Exec VP – Div Pres) purchased 10,000 shares at $19.80 per share price, according to the Form-4 filing with the securities and exchange commission.

CenterPoint Energy Inc. is a public utility holding company. The company’s segments include: Electric Transmission & Distribution Natural Gas Distribution Energy Services Midstream Investments and Other Operations. Electric Transmission & Distribution provides electric transmission and distribution services to retail electric providers. Natural Gas Distribution offers intrastate natural gas sales to and natural gas transportation and distribution for residential commercial industrial and institutional customers. Energy Services includes non-rate regulated gas sales and services operations. Midstream Investments segment includes equity earnings associated with the operations of Enable Midstream Partners LP and a 0.1% interest in Southeast Supply Header LLC owned by CenterPoint Energy Resources Corp. Other Operations includes office buildings and other real estate used in its business operations and other corporate operations which support all of its business operations.

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