Canadian pipeline operator Enbridge (ENB) on Tuesday said it is buying three utilities from Dominion Energy (D) for a combined value of $14 billion. The three utilities are East Ohio Gas Co, Questar Gas and Public Service Company of North Carolina for a combined value of $14 billion. The agreements will create the biggest natural-gas utility in North America. The terms include $9.4 billion of cash and $4.6 billion of assumed debt, Enbridge (ENB) said in a statement. Enbridge’s stock … Continue reading “Enbridge Becomes Biggest North American Natural Gas Utility After Dominion Deals”
NRG Energy to Buy Vivint Smart Home in $5.8 Billion Deal
NRG Energy Inc. on Tuesday said it agreed to buy Vivint Smart Home Inc., for $2.8 billion in cash the assumption of $2.4 billion of the company’s debt for a total deal value of $5.2 billion. NRG, which produces and sells energy services, said it would pay $12 a share for Vivint, a 33% premium to Vivint’s closing share price on Monday. NRG is effectively betting on the smart device market by buying $VVNT which offers integrated home systems that … Continue reading “NRG Energy to Buy Vivint Smart Home in $5.8 Billion Deal”
Algonquin Power & Utilities Stock Slumps 19.2% on Interest Rates and Renewable Energy Costs
Algonquin Power & Utilities reported a larger than forecast Q3 adjusted loss and cut its full-year earnings guidance on Friday. The release saw $AQN shares fall 19.2% to its lowest in four-and-a-half years in Friday’s trading. The utility cited challenging macroeconomic conditions and construction delays which it expects will continue into next year. The company said higher interest rates cost it $23.3M during the quarter, and the timing of tax incentives relative to some of its renewable energy projects cost … Continue reading “Algonquin Power & Utilities Stock Slumps 19.2% on Interest Rates and Renewable Energy Costs”