XLU tops S&P 500 sector performers in Q3 fueled by AI; GEV, VST, and CEG among gainers
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 01 2024
0mins
Source: SeekingAlpha
Utility Sector Performance: The utility sector, represented by the Utilities Select Sector SPDR ETF (XLU), has achieved a total return of approximately 18.6% in the third quarter.
Comparison to Broader Market: This performance is notable when compared to the broader S&P 500 market, where the utility sector holds a weightage of 2.53%.
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Analyst Views on CNP
Wall Street analysts forecast CNP stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CNP is 41.80 USD with a low forecast of 36.00 USD and a high forecast of 45.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
10 Analyst Rating
4 Buy
6 Hold
0 Sell
Moderate Buy
Current: 41.050
Low
36.00
Averages
41.80
High
45.00
Current: 41.050
Low
36.00
Averages
41.80
High
45.00
About CNP
CenterPoint Energy, Inc. is an energy delivery company. The Company, through its subsidiaries, owns and operates electric transmission, distribution and generation facilities and natural gas distribution systems. Its segments include Electric and Natural Gas. The Electric segment includes electric transmission and distribution services that are subject to rate regulation in Houston Electric's and Indiana Electric's service territories. The Natural Gas segment includes intrastate natural gas sales to, and natural gas transportation and distribution for residential, commercial, industrial and institutional customers in Indiana, Minnesota, Ohio, and Texas; permanent pipeline connections through interconnects with various interstate and intrastate pipeline companies; and home appliance maintenance and repair services to customers in Minnesota and home repair protection plans to natural gas customers in Indiana, Ohio and Texas through a third party.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
CenterPoint Energy Launches Community Progress Tracker for Resiliency Initiative
- Grid Upgrade Transparency: The Community Progress Tracker launched by CenterPoint Energy allows customers to view real-time progress on over 56,000 new poles and 8,000 miles of tree trimming completed since August 2024, thereby enhancing customer transparency and trust in grid upgrades.
- Infrastructure Investment: Under the Greater Houston Resiliency Initiative, CenterPoint has invested in undergrounding 430 miles of power lines and installing 500 automation devices, aimed at reducing outage impacts and improving restoration times to ensure stable power supply during extreme weather events.
- Enhanced Customer Engagement: The new tool provides location-specific details accessible via mobile, tablet, and desktop, increasing interaction between customers and the company, helping customers better understand the impact of grid upgrades on their communities.
- Future Development Plans: The Community Progress Tracker will continue to evolve, with future features allowing customers to monitor ongoing projects and upcoming resiliency initiatives, further boosting customer confidence in the company's long-term power service reliability.
See More
CenterPoint Energy Launches Community Progress Tracker for Resiliency Initiative
- New Tool Launch: CenterPoint Energy has introduced the Community Progress Tracker, allowing customers in a 12-county area to view progress on over 56,000 new storm-resistant poles and 8,000 miles of tree trimming, enhancing customer transparency and engagement in grid upgrades.
- Infrastructure Upgrades: Since August 2024, CenterPoint has implemented over 500 new automation and intelligence devices in the Greater Houston area, aimed at improving grid reliability and resilience against increasingly severe weather events.
- Enhanced Customer Communication: The new tool not only provides specific progress details but also showcases the diversity of grid-hardening measures through easily identifiable icons, helping customers better understand how these upgrades enhance service quality.
- Future Feature Outlook: The Community Progress Tracker will continue to evolve, with future capabilities allowing customers to monitor ongoing projects and upcoming planned resiliency initiatives, further boosting customer confidence and understanding of electric infrastructure development.
See More
Strategic Partnership Enhances CenterPoint's Resiliency Initiative in Houston
- Agreement Signing: Resilient Structures (RS) has entered into a long-term supply agreement with CenterPoint Energy to support the Greater Houston Resiliency Initiative, enhancing the region's energy infrastructure against extreme weather, directly impacting over 2.9 million customers' power supply.
- Local Manufacturing Expansion: RS will expand its operations in Humble, Texas, projecting the creation of over 200 new jobs, which represents a significant economic commitment to the Houston area while addressing the growing infrastructure demands.
- Supply Chain Optimization: By sourcing high-performance infrastructure materials locally, RS and CenterPoint aim to shorten the supply chain, accelerating the deployment of storm-hardened structures across CenterPoint's 12-county service territory, thereby enhancing grid reliability and resiliency.
- Support for Economic Growth: This agreement not only ensures the safety of CenterPoint's electric infrastructure against extreme weather but also promotes local economic growth through job creation, showcasing the shared commitment of both companies to community safety and stability.
See More
Winter Storm Fern Significantly Impacts Energy Sector and Stock Fluctuations
- Natural Gas Producers in Focus: The surge in natural gas prices due to Winter Storm Fern has put companies like Antero Resources and EOG Resources in the spotlight, with analysts predicting significant upside potential for these producers amid production disruptions.
- Equipment Manufacturers at Risk: The freezing of natural gas equipment and pipelines could halt operations for energy transfer companies such as Energy Transfer and Kinder Morgan, potentially impacting their production and revenue.
- Power Supply Assurance: PJM, the largest U.S. power grid, has warned of a potential winter peak, prompting CenterPoint Energy and Duke Energy to implement emergency plans to ensure reliable power supply during the storm.
- Airline Industry Disruption: The storm has led to the cancellation of over 9,400 flights by airlines including Delta, JetBlue, and United Airlines, causing widespread travel disruptions and affecting numerous travelers nationwide.
See More
CenterPoint Energy Mobilizes 2,800 Workers to Restore Power to 30,000 Customers Amid Winter Storm
- System Stability: As of 4 p.m., CenterPoint's electric system is operating as designed with less than 1% of customers affected, approximately 1,000 still experiencing outages, demonstrating the company's resilience in extreme weather conditions.
- Rapid Recovery Progress: Since 6 a.m. Saturday, CenterPoint has restored power to nearly 30,000 customers, indicating the company's efficient recovery capabilities in response to the winter storm.
- Resource Mobilization: The company has deployed over 500 contractors from nine states to support the hardest-hit areas, ensuring continued service during upcoming severe cold weather, showcasing its strong resource integration capabilities.
- Safety Reminders and Customer Communication: CenterPoint advises customers to maintain a safe distance from downed lines and utilizes Power Alert Service® to provide real-time restoration updates, enhancing customer safety awareness and information transparency.
See More
CenterPoint Energy Mobilizes 2,800 Workers to Restore Power to 30,000 Customers Amid Winter Storm
- Emergency Response Capability: CenterPoint Energy mobilized 2,800 workers during the winter storm to ensure rapid power restoration under high winds and freezing conditions, successfully restoring power to nearly 30,000 customers, demonstrating the company's emergency response effectiveness in extreme weather.
- Customer Impact Assessment: As of 4 p.m., approximately 1,000 customers were still experiencing weather-related outages, affecting less than 1% of the 2.9 million customers served, indicating the overall stability of the company's system and its ability to effectively handle emergencies.
- Resource Allocation: The company deployed over 500 contractors from nine states to support recovery efforts in heavily impacted areas, showcasing CenterPoint's resource integration capabilities and effective interstate collaboration in crisis management.
- Safety Reminders and Customer Communication: CenterPoint emphasized safety precautions for customers encountering downed power lines and maintained communication through various channels to keep customers informed about restoration progress and safety information, enhancing customer trust and satisfaction.
See More
CenterPoint Energy Launches Community Progress Tracker for Resiliency Initiative
- Grid Upgrade Transparency: The Community Progress Tracker launched by CenterPoint Energy allows customers to view real-time progress on over 56,000 new poles and 8,000 miles of tree trimming completed since August 2024, thereby enhancing customer transparency and trust in grid upgrades.
- Infrastructure Investment: Under the Greater Houston Resiliency Initiative, CenterPoint has invested in undergrounding 430 miles of power lines and installing 500 automation devices, aimed at reducing outage impacts and improving restoration times to ensure stable power supply during extreme weather events.
- Enhanced Customer Engagement: The new tool provides location-specific details accessible via mobile, tablet, and desktop, increasing interaction between customers and the company, helping customers better understand the impact of grid upgrades on their communities.
- Future Development Plans: The Community Progress Tracker will continue to evolve, with future features allowing customers to monitor ongoing projects and upcoming resiliency initiatives, further boosting customer confidence in the company's long-term power service reliability.
See More
CenterPoint Energy Launches Community Progress Tracker for Resiliency Initiative
- New Tool Launch: CenterPoint Energy has introduced the Community Progress Tracker, allowing customers in a 12-county area to view progress on over 56,000 new storm-resistant poles and 8,000 miles of tree trimming, enhancing customer transparency and engagement in grid upgrades.
- Infrastructure Upgrades: Since August 2024, CenterPoint has implemented over 500 new automation and intelligence devices in the Greater Houston area, aimed at improving grid reliability and resilience against increasingly severe weather events.
- Enhanced Customer Communication: The new tool not only provides specific progress details but also showcases the diversity of grid-hardening measures through easily identifiable icons, helping customers better understand how these upgrades enhance service quality.
- Future Feature Outlook: The Community Progress Tracker will continue to evolve, with future capabilities allowing customers to monitor ongoing projects and upcoming planned resiliency initiatives, further boosting customer confidence and understanding of electric infrastructure development.
See More
Strategic Partnership Enhances CenterPoint's Resiliency Initiative in Houston
- Agreement Signing: Resilient Structures (RS) has entered into a long-term supply agreement with CenterPoint Energy to support the Greater Houston Resiliency Initiative, enhancing the region's energy infrastructure against extreme weather, directly impacting over 2.9 million customers' power supply.
- Local Manufacturing Expansion: RS will expand its operations in Humble, Texas, projecting the creation of over 200 new jobs, which represents a significant economic commitment to the Houston area while addressing the growing infrastructure demands.
- Supply Chain Optimization: By sourcing high-performance infrastructure materials locally, RS and CenterPoint aim to shorten the supply chain, accelerating the deployment of storm-hardened structures across CenterPoint's 12-county service territory, thereby enhancing grid reliability and resiliency.
- Support for Economic Growth: This agreement not only ensures the safety of CenterPoint's electric infrastructure against extreme weather but also promotes local economic growth through job creation, showcasing the shared commitment of both companies to community safety and stability.
See More
Winter Storm Fern Significantly Impacts Energy Sector and Stock Fluctuations
- Natural Gas Producers in Focus: The surge in natural gas prices due to Winter Storm Fern has put companies like Antero Resources and EOG Resources in the spotlight, with analysts predicting significant upside potential for these producers amid production disruptions.
- Equipment Manufacturers at Risk: The freezing of natural gas equipment and pipelines could halt operations for energy transfer companies such as Energy Transfer and Kinder Morgan, potentially impacting their production and revenue.
- Power Supply Assurance: PJM, the largest U.S. power grid, has warned of a potential winter peak, prompting CenterPoint Energy and Duke Energy to implement emergency plans to ensure reliable power supply during the storm.
- Airline Industry Disruption: The storm has led to the cancellation of over 9,400 flights by airlines including Delta, JetBlue, and United Airlines, causing widespread travel disruptions and affecting numerous travelers nationwide.
See More
CenterPoint Energy Mobilizes 2,800 Workers to Restore Power to 30,000 Customers Amid Winter Storm
- System Stability: As of 4 p.m., CenterPoint's electric system is operating as designed with less than 1% of customers affected, approximately 1,000 still experiencing outages, demonstrating the company's resilience in extreme weather conditions.
- Rapid Recovery Progress: Since 6 a.m. Saturday, CenterPoint has restored power to nearly 30,000 customers, indicating the company's efficient recovery capabilities in response to the winter storm.
- Resource Mobilization: The company has deployed over 500 contractors from nine states to support the hardest-hit areas, ensuring continued service during upcoming severe cold weather, showcasing its strong resource integration capabilities.
- Safety Reminders and Customer Communication: CenterPoint advises customers to maintain a safe distance from downed lines and utilizes Power Alert Service® to provide real-time restoration updates, enhancing customer safety awareness and information transparency.
See More
CenterPoint Energy Mobilizes 2,800 Workers to Restore Power to 30,000 Customers Amid Winter Storm
- Emergency Response Capability: CenterPoint Energy mobilized 2,800 workers during the winter storm to ensure rapid power restoration under high winds and freezing conditions, successfully restoring power to nearly 30,000 customers, demonstrating the company's emergency response effectiveness in extreme weather.
- Customer Impact Assessment: As of 4 p.m., approximately 1,000 customers were still experiencing weather-related outages, affecting less than 1% of the 2.9 million customers served, indicating the overall stability of the company's system and its ability to effectively handle emergencies.
- Resource Allocation: The company deployed over 500 contractors from nine states to support recovery efforts in heavily impacted areas, showcasing CenterPoint's resource integration capabilities and effective interstate collaboration in crisis management.
- Safety Reminders and Customer Communication: CenterPoint emphasized safety precautions for customers encountering downed power lines and maintained communication through various channels to keep customers informed about restoration progress and safety information, enhancing customer trust and satisfaction.
See More
