WASHINGTON (dpa-AFX) - CenterPoint Energy, Inc. (CNP), Tuesday announced the sale of its Ohio natural gas local distribution company business, Vectren Energy Delivery of Ohio, LLC, to National Fuel Gas Company (NFG) for $2.62 billion.
As part of its 10-year capital plan, the company expects this sale to continue to optimize its portfolio of utility operations and efficiently recycle more than $2 billion back into other electric and natural gas businesses.
Of the total proceeds, which represents approximately 1.9x 2024 rate base of the business, the company expects to receive $1.42 billion in 2026 and the remaining $1.20 billion in 2027.
The transaction is set to close in the fourth quarter of 2026.
Moreover, the company reaffirmed its recently increased non-GAAP EPS growth rate of 9 percent in 2025, and long-term EPS targets through 2035.
In the pre-market hours, CNP is trading at $40.02, down 0.50 percent on the New York Stock Exchange.
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