What Makes CenterPoint Energy (CNP) a Strong Momentum Stock: Buy Now?

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Summary: CenterPoint Energy (CNP) - CNP has a Momentum Style Score of B, indicating a favorable momentum characteristic [2] - The company currently holds a Zacks Rank of 2 (Buy), suggesting strong potential for outperformance [3] - CNP shares have increased by 3.12% over the past week, outperforming the Zacks Utility - Electric Power industry, which rose by 0.83% [5] - Over the last month, CNP's shares rose by 5.96%, compared to the industry's 4.71% [5] - In the last quarter, CNP shares increased by 5.12%, and over the past year, they gained 22.86%, while the S&P 500 saw increases of 1.43% and 22.2%, respectively [6] - The average 20-day trading volume for CNP is 3,970,286 shares, indicating a bullish sign with rising stock prices [7] Earnings Outlook - In the past two months, 4 earnings estimates for CNP have been revised upwards, with no downward revisions, raising the consensus estimate from $1.74 to $1.75 [9] - For the next fiscal year, 2 estimates have also moved upwards, with no downward revisions during the same period [9] Conclusion - Considering the positive momentum indicators and earnings outlook, CNP is positioned as a 2 (Buy) stock with a Momentum Score of B, making it a potential candidate for near-term investment [11]