12/6/2023 0 Comments Who sells synergy gasThe Western Australian Government owns three corporations with active roles in the electricity supply chain. Price Action: NEE shares closed lower by 3.16% at $65.34, while CPK shares closed lower by 1.48% at $105.90 on Tuesday. Electricity is produced by generators, distributed through power lines by network operators and sold to consumers by retailers. It expects capital expenditure of $1.5 billion to $1.8 billion for the five years ended 2028. the 2025 EPS guidance range or 8.5% since 2018. The company provided guidance for EPS of $7.75-$8., implying growth of about 8% vs. ![]() The deal is expected to drive the company's long-term EPS guidance and offers investment opportunities of about $500 million related to FCG over the coming five years.ĬPK expects to exceed its current capital expenditure outlook of $900 million to $1.1 billion for the five years ended 2025, two years early. With the buyout, CPK's regulated utility customers and net plant will augment by 50% and 30%, respectively, with the regulated business mix coming to 87% (up from 81%). 45% for the standalone business at the end of 2022. 2022 base.ĬPK Synergy & Outlook: Post-acquisition, CPK's Florida portfolio is expected to contribute about 60% of its total utility net plant and operating income vs. The company continues to expect dividends per share annual growth of roughly 10% through at least 2024, vs. 2024 figure) to $3.45-$3.70 and $3.63-$4.00, respectively.Īlso, the energy company reinstated its statement that it will be disappointed if it is not able to deliver financial results at or near the top end of its adjusted EPS ranges through 2026. ![]() The company will exclude the gain on the sale of assets at the time of deal closure from adjusted earnings.įor 20, the company continues to project adjusted EPS to grow 6%-8% (vs. NEE Outlook: NEE expects the transaction to be accretive to its earnings immediately upon closure and reiterated its guidance for adjusted EPS at $2.98-$3. The transaction, which comprises intercompany debt of $145 million, is expected to close in Q4 FY23 subject to the expiration of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and other customary closing conditions. Post closure, FCG will become a wholly owned subsidiary of CPK. NextEra Energy Inc's NEE Florida Power & Light Company subsidiary penned a deal to sell Florida City Gas (FCG) to Chesapeake Utilities Corp CPK for $923 million in cash.įCG serves about 120,000 residential and commercial natural gas customers in Florida, and its natural gas system comprises about 3,800 miles of distribution main and 80 miles of transmission pipe.
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