CenterPoint to Acquire Indiana Utility Vectren; No Change to Our $28 Fair Value Estimate
We are reaffirming our $28 per share fair value estimate after CenterPoint Energy announced it had reached an agreement to acquire Vectren for $72 per share in cash, or almost $6 billion. In addition, CenterPoint would assume approximately $2.5 billion in debt. Vectren is an integrated electric utility and natural gas distribution utility serving southern and central Indiana and parts of western Ohio.In our opinion, Indiana and Ohio have average to slightly above-average regulatory frameworks a...
CenterPoint Energy owns interests in Enable Midstream Partners, LP. The company's subsidiaries own and operate electric transmission and distribution, electric generation and natural gas distribution facilities, supply natural gas to commercial and industrial customers and electric and natural gas utilities and provide underground pipeline construction and repair services, energy performance contracting and sustainable infrastructure services. The company's segments include: Houston Electric T&D, which consists of electric transmission and distribution services in the Texas Gulf Coast area; and Energy Services, which consists of non-rate regulated natural gas sales and services operations.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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