CenterPoint Energy (CNP) PT Raised to $32 at BMO Capital

BMO Capital analyst James Thalacker raised the price target on CenterPoint Energy (NYSE: CNP) to $32.00 (from $31.00) while maintaining a Outperform rating.

The analyst commented, "After close yesterday, CenterPoint Energy Texas Gas and the settling parties filed a unanimous settlement agreement with the Railroad Commission of Texas (RRC). The settlement would grant Texas Gas a net rate increase of ~$5mm compared to the revised request of ~$38.8mm by the company. The settlement authorizes an ROE of 9.8% and an equity ratio 60.61% vs. the company's request of 10.5% and 60.61%. We reiterate our Outperform rating and target price moves to $32 as we MTM our peer group multiples."

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