National Fuel Gas Expects 5%-7% Long-Term Rate-Base Growth After Spinoff
Bitget2026/10/16 18:56- National Fuel expects to complete a tax-free spinoff of its integrated upstream and gathering business in the second half of 2027.
- The remaining regulated business targets long-term rate-base growth of 5%-7% from approximately $5 billion, supported by pipeline expansions and modernization spending.
- Both businesses expect no incremental equity financing needs over the next five years.
- Monetizing a retained IUG stake of up to 19.9% should help lift the regulated company's credit rating two to three notches.
- IUG expects initial leverage slightly above 1x, falling below 1x within one to two years of separation through free cash flow.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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