AcquisitionsApr 30, 2026, 01:28 PM
NFG to Acquire CenterPoint Ohio for $2.62B; 6-Month Net Income +64%
AI Summary
National Fuel Gas Co. announced the pending acquisition of Vectren Energy Delivery of Ohio, LLC from CenterPoint Energy Resources Corp. for $2.62 billion, expected to close in Q4 calendar 2026. This acquisition is set to double the company's gas utility rate base and expand operations into Ohio. Concurrently, NFG reported strong financial results for the six months ended March 31, 2026, with net income rising 64.3% to $429.3 million and operating revenues increasing 18.0% to $1.51 billion.
Key Highlights
- NFG to acquire Vectren Energy Delivery of Ohio for $2.62 billion, expected to close Q4 2026.
- Six-month Net Income Available for Common Stock was $429.3 million, up 64.3% YoY.
- Six-month Basic EPS was $4.61, a 60.1% increase compared to the prior year.
- Six-month Operating Revenues reached $1.51 billion, an 18.0% increase YoY.
- Six-month Utility Revenues were $684.8 million, up 19.7% YoY.
- Six-month Integrated Upstream and Gathering Revenues were $682.0 million, up 20.2% YoY.
- Net cash provided by operating activities for six months was $657.3 million, up 38.7% YoY.
- Six-month Dividends Declared Per Common Share increased to $1.070, up 3.9% YoY.