- CenterPoint Energy (CNP -2.5%) says it will no longer pursue forming a REIT structure for its utility business, deciding that the potential to create long-term shareholder value via a REIT is "very limited and does not justify exposure to the associated risks."
- In reporting smaller than expected Q2 earnings, CNP says its natural gas business was hurt by a mild winter that reduced gas demand, and results were weighed down by its Enable Midstream Partners (ENBL +2.5%) joint venture, which also posted below consensus Q2 earnings.
- Fellow ENBL partner OGE Energy (OGE -0.9%) said yesterday that CNP is offering to sell its ENBL stake to OGE.
- CNP also reaffirms guidance FY 2016 EPS guidance of $1.12-$1.20 vs. $1.15 analyst consensus estimate.