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Momentum Stocks: Phillips 66 (PSX), CenterPoint Energy, Inc. (CNP), SunTrust Banks, Inc. (STI)

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Phillips 66 (PSX) grew with the stock adding 0.37% or $0.3 to close at $81.05 on active trading volume of 3.39M compared its three months average trading volume of 2.27M. The Houston Texas 77042 based company operating under the Oil & Gas Refining & Marketing industry has been trending up for the last 52 weeks, with the shares price now 5.71% up for the period and down by -6.2% so far this year. With price target of $92.27 and a 15.69% rebound from 52-week low, Phillips 66 has plenty of upside potential, making it a hold with a view buy.

Phillips 66 operates as an energy manufacturing and logistics company. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports, and markets natural gas; and transports, fractionates, and markets natural gas liquids in the United States. This segment also transports crude oil and other feedstocks to its refineries and other locations, as well as delivers refined and specialty products, and provides terminaling and storage services for crude oil and petroleum products. The Chemicals segment manufactures and markets ethylene and other olefin products; aromatics products, such as benzene, styrene, paraxylene, and cyclohexane, as well as polystyrene and styrene-butadiene copolymers; and various specialty chemical products, including organosulfur chemicals, solvents, catalysts, drilling chemicals, and mining chemicals. The Refining segment buys, sells, and refines crude oil and other feedstocks into petroleum products comprising gasolines, distillates, and aviation fuels at 14 refineries primarily in the United States and Europe. The M&S segment purchases for resale and markets refined petroleum products consisting of gasolines, distillates, and aviation fuels in the United States and Europe. It also manufactures and sells specialty products, such as petroleum coke, waxes, solvents, and polypropylene. In addition, this segment is involved in the generation of electricity. Phillips 66 was founded in 1875 and is headquartered in Houston, Texas.

CenterPoint Energy, Inc. (CNP) had a light trading with around 3.37M shares changing hands compared to its three month average trading volume of 3.5M. The stock traded between $25.78 and $26.21 before closing at the price of $26.19 with 1% change on the day. The Houston Texas 77002 based company is currently trading 54.74% above its 52 week low of $17.52 and -0.23% below its 52 week high of $26.25. Both the RSI indicator and target price of  and $25.2 respectively, lead us to believe that it could rise over the coming weeks.

CenterPoint Energy, Inc. operates as a public utility holding company in the United States. The company’s Electric Transmission & Distribution segment offers electric transmission and distribution services to retail electric providers, municipalities, electric cooperatives, and other distribution companies. As of December 31, 2015, this segment owned 28,474 pole miles of overhead distribution lines and 3,723 circuit miles of overhead transmission lines; 23,120 circuit miles of underground distribution lines and 26 circuit miles of underground transmission lines; and 232 substations with a capacity of 58,674 megavolt amperes. Its Natural Gas Distribution segment sells regulated intrastate natural gas; provides natural gas transportation and storage services for residential, commercial, industrial, and transportation customers; and offers unregulated services comprising residential appliance repair and maintenance services, as well as sells heating, ventilating and air conditioning equipment. This segment owned approximately 74,000 linear miles of natural gas distribution mains. The company’s Energy Services segment provides physical natural gas supplies primarily to commercial and industrial customers, and electric and gas utilities; natural gas management services; and physical delivery services, as well as procures and optimizes transportation and storage assets. It owns and operates approximately 200 miles of intrastate pipelines; and leases transportation capacity on various interstate and intrastate pipelines, and storage. Its Midstream Investments segment provides gathering, processing, compression, treating, dehydration, and natural gas liquids fractionation for producer customers. This segment had approximately 12,400 miles of gathering pipelines, 7,900 miles of interstate pipelines, and approximately 2,300 miles of intrastate pipelines. The company was founded in 1882 and is headquartered in Houston, Texas.

SunTrust Banks, Inc. (STI) saw its value decrease by -0.54% as the stock dropped $-0.31 to finish the day at a closing price of $56.83. The stock was lighter in trading and has fluctuated between $31.07-$58.72 per share for the past year. The shares, which traded within a range of $56.27 to $56.91 during the day, are up by 26.05% in the past three months and up by 36.64% over the past six months. It is currently trading 1.58% above its 20 day moving average and 3.73% above its 50 day moving average. Analysts believe the company can continue to increase in value to reach at $59.69 a share over the next twelve months. The current relative strength index (RSI) reading is 57.06.The technical indicator lead us to believe there will be no major movement any time soon, hold.

SunTrust Banks, Inc. operates as the holding company for SunTrust Bank that provides various financial services for consumers, businesses, corporations, and institutions in the United States. It operates through three segments: Consumer Banking and Private Wealth Management, Wholesale Banking, and Mortgage Banking. The Consumer Banking and Private Wealth Management segment offers deposits, home equity lines and loans, credit lines, indirect auto loans, student loans, bank cards, and other lending products, as well as various services. This segment also provides wealth management products and professional services, including brokerage, professional investment management, and trust services; and family office solutions. The Wholesale Banking segment offers corporate and investment banking solutions, such as advisory, capital raising, and financial risk management, as well as lease financing solutions; cash management services, auto dealer financing, and corporate insurance premium financing solutions; and construction, mini-perm, and permanent real estate financing, as well as tailored financing and equity investment solutions. This segment also provides treasury and payment solutions, including operating various electronic and paper payment types, such as card, wire transfer, automated clearing house, check, and cash; and offers clients to manage their accounts online. The Mortgage Banking segment provides residential mortgage products in the secondary market. The company offers its products and services through a network of traditional and in-store branches, automated teller machines, Internet, mobile, and telephone banking channels. As of December 31, 2015, it operated 1,401 full-service banking offices located in Florida, Georgia, Maryland, North Carolina, South Carolina, Tennessee, Virginia, and the District of Columbia. The company was founded in 1891 and is headquartered in Atlanta, Georgia.

 

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