🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

UPDATE 1-CenterPoint Energy considering review of Enable Midstream investment

Published 2016-02-01, 07:28 a/m
© Reuters.  UPDATE 1-CenterPoint Energy considering review of Enable Midstream investment
CNP
-
NG
-

(Adds details)
Feb 1 (Reuters) - Electric and natural gas utility
CenterPoint Energy Inc (N:CNP) CNP.N said on Monday it was considering
strategic options for its investment in oil and natural gas
pipeline company Enable Midstream Partners LP ENBL.N ,
including a sale or a spinoff.
The move follows CenterPoint's $363 million investment in
Enable Midstream's preferred securities on Friday, through the
early redemption of notes payable to a CenterPoint unit of the
same amount.
CenterPoint owns a 50 percent general partner interest and
55.4 percent limited partner interest in Enable Midstream, which
it jointly controls with OGE Energy Corp OGE.N .
CenterPoint said it will also explore converting all or part
of its utility business into a real estate investment trust
(REIT).
"The REIT structure has recently received significant
attention in the regulated utility industry in Texas and could
have substantial potential for CenterPoint," Chief Executive
Scott Prochazka said in a statement.
CenterPoint serves Arkansas, Louisiana, Minnesota,
Mississippi, Oklahoma and Texas.
Up to Friday's close of $7.58, Enable Midstream's shares had
more than halved over the past twelve months.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.