Barclays Maintains an 'Equalweight' on CenterPoint Energy (CNP); Raising Numbers on Accretive Acquisitions

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Barclays maintains an 'Equalweight' on CenterPoint Energy (NYSE: CNP) price target of $21.00 (from $20.00).

Analyst, Daniel Ford, said, "CNP announced the acquisition of assets in East Texas in two separate deals. The first deal is to acquire the gathering and processing assets from Prism Gas Systems I, L.P. (Prism) for approximately $275 million in cash. The second deal is to purchase Encana's 139 mile Amoruso gathering systems for approximately $89 million in cash."

Ford sees EPS accretion from the two deals and raises FY12 EPS estimate from $1.12 to $1.13, FY13 from $1.21 to $1.23 and FY14 from $1.36 to $1.40.

For an analyst ratings summary and ratings history on CenterPoint Energy click here. For more ratings news on CenterPoint Energy click here.

Shares of CenterPoint Energy closed at $20.59 yesterday, with a 52 week range of $17.11-$21.47.

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