NEW YORK (TheStreet) -- Shares of CenterPoint Energy (CNP) - Get CenterPoint Energy, Inc. (CNP) Stock Price, News, Buy or Sell Rating Report were down in late-morning trading on Friday after the company posted weaker-than-expected results for the 2016 second quarter.
Before today's market open, the Houston-based utility company reported adjusted earnings of 17 cents per share, below analysts' estimates of 20 cents per share.
Revenue for the quarter was $1.57 billion, which fell short of expectations for revenue of $1.67 billion.
"Milder than normal weather at our electric utility and losses attributable to changes in the fair value of commodity derivatives at Enable Midstream accounted for most of the headwinds we experienced this quarter," CEO Scott Prochazka said in a statement.
For the full year, CenterPoint sees earnings per share between $1.12 and $1.20. Analysts are modeling earnings of $1.15 per share for 2016.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B- on the stock.
The company's strengths can be seen in multiple areas, such as its solid stock price performance, increase in net income and growth in earnings per share.
The team believes its strengths outweigh the fact that the company has had generally high debt management risk by most measures that were evaluated.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: CNP