CenterPoint Energy sells Louisiana, Mississippi natural gas assets for $1.2B

CenterPoint Energy announced the sale of its Louisiana and Mississippi natural gas LDC businesses to Bernhard Capital Partners, a services and infrastructure-focused private equity management firm, for $1.2B. The assets include approximately 12,000 miles of main pipeline in Louisiana and Mississippi serving approximately 380,000 metered customers. The sales price of $1.2B represents approximately 32 multiple of 2023 Louisiana and Mississippi LDC earnings. The transaction is anticipated to close toward the end of 1Q25, subject to customary closing conditions. The sale will enable company to recycle approximately $1B in anticipated after-tax cash proceeds to support capital plan. The sale will not change company’s targeted utility non-GAAP EPS growth rate of 8% in 2024, and the mid-to-high end of 6%-8% annually from 2025 through 2030.