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JP Morgan analysts Andrew Smith and Stefka Gerova initiated coverage of CenterPoint Energy
CNP. CenterPoint engages in distribution of electricity and natural gas.
JP Morgan thinks CNP pays an attractive dividend and offers stability for long term investors. Investors could get a 10-12% annual return.
The analysts said, "CenterPoint derives about 80% of its earnings from regulated businesses and structures its remaining businesses to dampen potential volatility. We expect this to result in stable, predictable EPS."
CNP shares offer about a 5.7% dividend yield.
The analysts initiated with an Overweight rating, with a price target of $16.00. Shares of CNP are currently trading at $13.72.
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Posted In: Analyst ColorLong IdeasInitiationAnalyst RatingsTrading IdeasAndrew SmithJP MorganStefka GerovaUtilities
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