Assenagon Asset Management S.A. and Cetera Investment Advisers have increased their stakes in CenterPoint Energy, Inc. (CNP), while a number of brokerages have downgraded the stock including JP Morgan, KeyBanc, and BMO Capital Markets. In spite of hitting a new 1-year low, the company managed to announce a regular common stock dividend of $0.2000, beating analyst's expectations for Q2 earnings, with revenues also rising year-on-year. The company is eyeing a $1.3 billion restoration cost after Hurricane Beryl, the handling of which has sparked an investigation from the Texas AG. Furthermore, CNP is planning on a public offering of $250 million of common stock, providing a positive long-term stock outlook despite some under-performance in the market. There is a sale of its gas assets to Bernhard Capital Partners expected to generate $1.2 billion, but this was marred by a lawsuit from Texas restaurants for their response to the hurricane. The company's electric utility business leader will also be departing.
Centerpoint Energy CNP News Analytics from Tue, 20 Feb 2024 08:00:00 GMT to Sun, 18 Aug 2024 10:58:46 GMT -
Rating -2
- Innovation -2
- Information 7
- Rumor -4
