CenterPoint Energy stock saw an improvement in its IBD SmartSelect Composite Rating Monday, from 93 to 96. The utility stock sports a 94 Relative Strength Rating.
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The revised score means the stock currently tops 96% of all other stocks in terms of key performance metrics and technical strength. The market's biggest winners often have a 95 or higher grade in the early stages of a new price run, so that's an important benchmark to look for when looking for the best stocks to buy and watch.
Is CenterPoint Energy Stock A Buy?
CenterPoint Energy stock is currently extended and now out of buy range after clearing the 33.00 buy point in a flat base. Wait for the stock to pull back or form a new pattern with a proper entry point.
One weak spot is the company's 66 EPS Rating, which tracks quarterly and annual earnings-per-share growth. Look for that to improve to 80 or better to show it's in the top 20% of all stocks.
Its Accumulation/Distribution Rating of B shows moderate buying by institutional investors over the last 13 weeks.
CenterPoint Energy Earnings
The utility company posted a -4% earnings-per-share gain for Q1. Top line growth rose 11%, up from 4% in the prior report. That marks two quarters of increasing revenue gains.
CenterPoint Energy stock earns the No. 2 rank among its peers in the Utility-Diversified industry group. Ameren Corp is the top-ranked stock within the group.
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