National Fuel Gas Closes $2.62B CenterPoint Ohio Acquisition, Adds $1.2B Seller Note
NFG is trading near its 52-week low of $75.17 (0.9% above the low).
Summary
National Fuel Gas closed its $2.62 billion acquisition of CenterPoint Energy's Ohio natural gas utility, financed with $1.42 billion cash and a $1.20 billion seller note at 6.5% interest due September 2027.
Key Events · M&A and Partnerships · NFG
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Acquisition Closed
The $2.62 billion acquisition of Vectren Energy Delivery of Ohio (CenterPoint Ohio) is complete, adding approximately 335,000 customers across 16 counties in the Dayton and Miami Valley region.
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Financing Structure
The purchase price was paid via $1.42 billion in cash and a $1.20 billion unsecured seller note bearing 6.5% interest, maturing September 30, 2027.
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Debt Covenant
The Seller Note Agreement includes a covenant capping the debt-to-capitalization ratio at 0.65, consistent with National Fuel's existing revolving credit facility.
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Regulated Footprint Doubles
This acquisition doubles National Fuel's utility rate base and grows the total utility customer base to approximately 1.1 million, significantly increasing the regulated earnings contribution.
Analysis · NFG · Energy & Transportation
The $2.62 billion acquisition of CenterPoint Energy's Ohio natural gas utility is now complete, doubling National Fuel Gas's utility rate base and extending its regulated footprint into Ohio. Financing for the deal included $1.42 billion in cash and a $1.20 billion seller note carrying 6.5% interest, maturing in September 2027. A new debt covenant caps the company's debt-to-capitalization ratio at 0.65, consistent with its existing credit facility. This transformative transaction significantly shifts the business mix toward regulated utility operations, reducing earnings volatility from the upstream and midstream segments.
How filings like this one have moved
In the 30 days to Oct 1, 2026, 36.1% of the 1051 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.56%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, NFG was trading at $75.86 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $7.2B. The 52-week trading range was $75.17 to $97.06. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.