Management is focusing the portfolio and recycling capital: completed sale of Louisiana and Mississippi gas LDCs in April 2025 and announced sale of Ohio gas to National Fuel (expected close Q4 2026). These moves redeploy capital to higher‑growth or lower‑lag jurisdictions and support the long‑term capex plan.
Dividend growth aligns with earnings growth, with a quarterly dividend of 0.22 per share as of late 2024. Offsetting positives, the company issued equity via a May 2025 forward common offering and disclosed additional equity needs through 2035, which dampens per‑share compounding.
Acquisition risk is limited; growth is predominantly organic via rate base.







