CenterPoint Energy (CNP) is Downgraded by Wells Fargo to Market Perform

CenterPoint Energy (CNP) was Downgraded by Wells Fargo to ” Market Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Wells Fargo advised their investors in a research report released on Jun 22, 2016.

Many Wall Street Analysts have commented on CenterPoint Energy. CenterPoint Energy was Upgraded by Goldman to ” Neutral” on May 9, 2016.

On the company’s financial health, CenterPoint Energy reported $0.36 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on May 10, 2016. Analyst had a consensus of $0.31. The company had revenue of $1984.00 million for the quarter, compared to analysts expectations of $2393.90 million. The company’s revenue was down -18.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.30 EPS.

CenterPoint Energy opened for trading at $23.23 and hit $23.29 on the upside on Monday, eventually ending the session at $23.22, with a gain of 0.52% or 0.12 points. The heightened volatility saw the trading volume jump to 40,82,550 shares. Company has a market cap of $9,999 M.

In a different news, on May 16, 2016, Joseph B Mcgoldrick (Exec VP – Div Pres) sold 9,000 shares at $22.23 per share price. According to the SEC, 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.

CenterPoint Energy

Leave a Reply

CenterPoint Energy - Is it time to Sell?

Top Brokerage Firms are advising their investors on CenterPoint Energy. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.