Barclays Maintains an 'Equalweight' on CenterPoint Energy (CNP); Talking About Potential Uses of Proceeds
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Price: $40.83 +0.86%
Rating Summary:
14 Buy, 15 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
14 Buy, 15 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays maintains an 'Equalweight' on CenterPoint Energy (NYSE: CNP) price target of $22.00.
Barclays analyst says, "With CNP weeks away from receiving close to $1.695B in cash due to the stranded cost recovery case in TX, we thought it would be useful to walk through potential uses of proceeds and the implications each could have on CNP's earnings power and valuation. We see the most likely options and valuation approaches for CNP as falling into four main buckets:...1) Valuing the cash on a per share basis...2) A hybrid approach involving investing in organic regulated growth opportunities at the existing utilities, share buybacks, and debt tenders...4) Organic growth projects similar to the Magnolia and Olympia gathering systems Doing larger scale corporate M&A."
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 $19.83 yesterday.
Barclays analyst says, "With CNP weeks away from receiving close to $1.695B in cash due to the stranded cost recovery case in TX, we thought it would be useful to walk through potential uses of proceeds and the implications each could have on CNP's earnings power and valuation. We see the most likely options and valuation approaches for CNP as falling into four main buckets:...1) Valuing the cash on a per share basis...2) A hybrid approach involving investing in organic regulated growth opportunities at the existing utilities, share buybacks, and debt tenders...4) Organic growth projects similar to the Magnolia and Olympia gathering systems Doing larger scale corporate M&A."
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 $19.83 yesterday.
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