In a report released yesterday, Shahriar Pourreza from Wells Fargo maintained a Buy rating on Centerpoint Energy, with a price target of $49.00. The company’s shares closed yesterday at $39.11.
Pourreza covers the Utilities sector, focusing on stocks such as Public Service Enterprise, NRG Energy, and Vistra Corp. According to TipRanks, Pourreza has an average return of 5.9% and a 54.64% success rate on recommended stocks.
Centerpoint Energy has an analyst consensus of Moderate Buy, with a price target consensus of $45.80.
Based on Centerpoint Energy’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.15 billion and a net profit of $244 million. In comparison, last year the company earned a revenue of $1.94 billion and had a net profit of $198 million
Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CNP in relation to earlier this year. Last month, Laurie Lee Fitch, a Director at CNP bought 1,000.00 shares for a total of $40,700.00.
