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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.