CenterPoint Energy downgraded by Credit Suisse

Credit Suisse on Tuesday issued a report on CenterPoint Energy Inc.

downgrading the energy company from Outperform to Underperform. Credit Suisse also lowered their price target for CenterPoint from $29.00 to $25.00. In the report analysts wrote, “We are downgrading CNP due to the rising risk of economic slow-down from energy company layoffs for Houston, which accounts for 40% of their customer base, and our revised outlook on its share of MLP, ENBL. We had assumed CNP's ownership interest in ENBL was the differentiating factor that added growth prospects other utilities lack. But with the current commodity price environment pressuring ENBL and slowing growth in Houston that is likely to accompany the downturn in the energy patch, we are cutting CNP to Underperform from Outperform.” Centerpoint Energy currently owns a 55.4 percent LP stake and 40 percent GP stake in Enable Midstream Partners

which has been hurt by lower processing margins, volume growth, and capital spending resulting from the decrease in commodity prices. CenterPoint Energy ended Monday at $22.90.