CNP - CenterPoint plunges after Enable Midstream's sale to Energy Transfer

CenterPoint Energy ([[CNP]] -2.3%) tumbles lower in early trading following Energy Transfer's acquisition of Enable Midstream Partners, which will result in an exchange of CenterPoint's investment in Enable in an at market, unit-for-unit transaction.CenterPoint, which owns 53.7% of the common units representing limited partner interests in Enable, will receive a 6.5% interest in Energy Transfer and $5M in cash in exchange for its Enable common units and general partner interest.CenterPoint says the deal supports its guidance basis utility EPS growth target of 6%-8%, annual rate base growth of 10%, and 2021 guidance basis utility EPS target of $1.23-$1.25.The company says the deal aligns with its goal of eventually eliminating exposure to the midstream industry.Separately, CenterPoint warned overnight that rolling blackouts that have paralyzed Houston and the rest of Texas may last for several more days.With too little electricity being generated to supply all demand, the company says it has no

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CenterPoint plunges after Enable Midstream's sale to Energy Transfer