Key Takeaways Southwest Gas posted Q4 EPS of $1.36, missing estimates and slipping from last year.SWX ended 2025 with $576.6M in cash and reduced long-term debt to $3.43B.SWX guides 2026 EPS of $4.17-$4.32 and projects $1.25B in capital spending.Southwest Gas Holdings Inc. (SWX) recorded fourth-quarter 2025 operating earnings of $1.36 per share, which missed the Zacks Consensus Estimate of $1.40 by 2.9%. The bottom line also decreased from the year-ago quarter’s figure of $1.39.SWX reported earnings of $3.6 ...

ONE Gas to Participate in UBS, Morgan Stanley and Jefferies Conferences [Accessibility Statement] Skip NavigationTULSA, Okla., Feb. 24, 2026 /PRNewswire/ -- ONE Gas, Inc. (NYSE: OGS) today announced that it will participate in several upcoming investor conferences. The company will attend the UBS Midwest Utilities Conference on Wednesday, February 25, 2026, in Chicago, Illinois, followed by the Morgan Stanley Energy and Power Conference on Monday, March 2, 2026, and the Jefferies Power, Energy, Clean Energy ...

Management emphasized a disciplined capital plan focused on high-growth regions, adding approximately 23,000 new residential customers annually to maintain affordability through cost-spreading.Operational efficiency was driven by an aggressive in-sourcing program, which reduced excavation damages by 14% despite an 8% increase in locate request volumes.Texas House Bill 4384 significantly expanded the scope of capital expenditures eligible for depreciation deferral and carrying cost accruals, creating a struc ...

Core Viewpoint - Jefferies expresses a positive outlook on five dividend-paying utility stocks while cautioning about potential regulatory and political challenges in the sector due to upcoming elections [1]. Group 1: Sector Overview - The utility sector has seen a significant increase, with a nearly 21% gain from its low in April 2025, driven by rising electricity demand from data centers [1]. - Despite the positive start to 2026, investor concerns have emerged due to unfavorable regulatory and political developments, particularly with 36 gubernatorial elections expected [1]. - Jefferies highlights that utility stocks are likely to perform better than high-flying technology stocks during potential market declines [1]. Group 2: Recommended Utility Stocks - **Ameren Corp. (NYSE: AEE)**: Offers a 2.69% dividend; operates in four segments including electric and natural gas distribution. Jefferies target price is $124 [1]. - **CenterPoint Energy Inc. (NYSE: CNP)**: Provides a 2.16% dividend; operates electric and natural gas distribution services. Jefferies target price is $44 [1]. - **Entergy Corp. (NYSE: ETR)**: Engaged in electric power production with a 2.48% dividend; operates in the Deep South. Jefferies target price is $114 [2]. - **NiSource Inc. (NYSE: NI)**: Offers a 2.55% yield; operates natural gas distribution in several states. Jefferies target price is $49 [2]. - **One Gas Inc. (NYSE: OGS)**: Provides a 3.32% dividend; focuses on natural gas distribution across multiple states. Jefferies target price is $95 [2].

Core Insights - UGI Corporation reported fiscal first-quarter 2026 earnings of $1.26 per share, missing the Zacks Consensus Estimate of $1.50 by 16% and down 8.03% from $1.37 per share in the same quarter last year [1][9] - Total revenues for the quarter were $2.08 billion, falling short of the Zacks Consensus Estimate of $2.13 billion by 2.07%, but representing a 2.61% increase from $2.03 billion in the prior year [2][9] Financial Performance - Earnings before interest expense and income tax (EBIT) for the fiscal first quarter of 2026 were $462 million, an 11% decline from $519 million in the year-ago quarter [3] - Interest expenses increased to $111 million, up 8.82% from $102 million in the previous year [3] Strategic Developments - UGI filed new gas base rate cases for UGI Utilities and Mountaineer Gas, seeking overall distribution rate increases of $99 million and $27 million, respectively [3] - The company entered into agreements for the divestiture of LPG businesses in several countries for an enterprise value of nearly $56.59 million, contributing to $215 million in cash proceeds from divestitures since fiscal 2025 [4] - UGI invested $225 million in the fiscal first quarter of 2026, with 73% allocated to regulated utilities [4] Operational Highlights - The New Carlisle LNG storage and vaporization facility commenced operations in the fiscal first quarter of 2026 [5] - Segment performance showed mixed results: - AmeriGas Propane EBIT was $72 million, down 2.70% year-over-year - UGI International EBIT increased by 12.7% to $124 million - Midstream & Marketing EBIT declined by 7.37% to $88 million - UGI Utilities EBIT rose 10.2% to $157 million [6][7]

Core Insights - MDU Resources Group Inc. reported fourth-quarter 2025 operating earnings per share (EPS) of 37 cents, matching the Zacks Consensus Estimate, with a year-over-year increase of 37% [1] - Total revenues for 2025 reached $1.88 billion, reflecting a 6.7% increase from $1.76 billion in 2024, although fourth-quarter revenues declined by 0.3% year over year [2] Financial Performance - Total operating expenses in Q4 were approximately $426.6 million, down 3.3% from $441 million in the same quarter of the previous year [3] - Operating income for Q4 was $107.4 million, up 13.7% from $94.5 million in the prior year [3] - As of December 31, 2025, cash and cash equivalents stood at $28.2 million, a decrease from $66.9 million as of December 31, 2024 [4] - Net cash provided by operating activities in 2025 was $473.4 million, compared to $502.3 million in the previous year [4] Future Outlook - For 2026, MDU Resources expects earnings to be between 93 cents and $1 per share, with the Zacks Consensus Estimate at $1.02 [5] - The company anticipates utility customer growth of 1-2% annually and a long-term EPS growth rate of 6-8% [5] - Projected capital expenditure for 2026 is $560 million [5] Market Position - MDU Resources currently holds a Zacks Rank 2 (Buy) [6]

Core Insights - Atmos Energy (ATO) reported first-quarter fiscal 2026 earnings of $2.44 per share, exceeding the Zacks Consensus Estimate of $2.41 by 1.24% and showing a 9.42% increase from $2.23 in the same quarter last year [2][8] ATO's Revenues - The company generated revenues of $1.34 billion, falling short of the Zacks Consensus Estimate of $1.44 billion by 6.41%, but representing a 14.2% increase from $1.18 billion in the prior-year quarter [3] Highlights of ATO's Release - Operating income for the first fiscal quarter was $514.7 million, a 12% increase from $459.4 million in the year-ago quarter [4] - New rates worth $122.9 million were implemented, with an additional $81.2 million pending approval [4] - Net income reached $403 million, reflecting a 14.5% increase from $352 million in the year-ago quarter [4] ATO's Segmental Details - Distribution segment net income was $269.2 million, a 12% increase from $240.2 million in the year-ago quarter [5] - Pipeline and Storage segment income amounted to $134 million, a 19.6% increase from $112 million in the year-ago quarter [5] ATO's Financial Highlights - As of December 31, 2025, Atmos Energy reported $4.6 billion in available liquidity [6] - The company issued $600 million in 5.45% 30-year senior notes and settled $472 million through equity forward arrangements in the first quarter of fiscal 2026 [6] - Nearly $1 billion was invested in the first quarter, with 85% allocated for enhancing the safety and reliability of distribution and transportation systems [6] ATO's Guidance - Atmos Energy reaffirmed its fiscal 2026 earnings guidance at $8.15-$8.35 per share [7] - The anticipated capital expenditure for fiscal 2026 is $4.2 billion [7] - A quarterly dividend of $1 per common share was declared, indicating an annual dividend of $4, which is a 14.9% increase from fiscal 2025 [7]

Core Insights - Spire Inc. reported first-quarter fiscal 2026 adjusted earnings of $1.77 per share, exceeding the Zacks Consensus Estimate of $1.62 by 9.3% and reflecting a 32.1% increase from $1.34 in the same quarter last year [1][8] Revenue Performance - Total revenues for the quarter reached $762.2 million, surpassing the Zacks Consensus Estimate of $712 million by 7.1% and showing a 13.9% increase from $669.1 million in the prior-year quarter [2][8] Earnings Highlights - Operating expenses were $588.7 million, up 13.1% from $520.3 million in the previous year [3] - Operating income was reported at $173.5 million, compared to $148.8 million in the prior-year quarter [3] - Net interest expenses rose 25.8% year over year to $60.4 million [3] Segment Performance - Gas Utility segment reported adjusted earnings of $103.9 million, a 33.7% increase from the prior-year quarter, driven by stronger results in Spire Missouri and Spire Alabama [4][8] - Gas Marketing segment saw adjusted earnings of $4.5 million, a significant growth of 104.5% year over year due to better portfolio optimization [4] - Midstream segment adjusted earnings totaled $12.7 million, up 5.8% from the previous year, attributed to higher Spire Storage revenues [5] - Other segment reported an adjusted loss of $12.7 million, compared to a loss of $10.9 million in the prior-year quarter [5] Financial Position - Cash and cash equivalents as of December 31, 2025, were $4.1 million, down from $5.7 million as of September 30, 2025 [6] - Long-term debt as of December 31, 2025, totaled $4.45 billion, an increase from $3.37 billion as of September 30, 2025 [6][8] - Net cash from operating activities for the first three months of fiscal 2026 was $81 million, slightly down from $81.1 million in the same period last year [6] Guidance - Spire expects fiscal 2026 adjusted earnings to be in the range of $5.25-$5.45 per share, with the Zacks Consensus Estimate at $5.30 [9] - For fiscal 2027, adjusted earnings are expected to be in the range of $5.65-$5.85 per share, with the Zacks Consensus Estimate at $5.71 [9] - The company plans a 10-year capital investment of $11.2 billion through fiscal 2035, aiming for long-term adjusted earnings per share growth of 5-7% [10]

Core Insights - Spire reported quarterly earnings of $1.77 per share, exceeding the Zacks Consensus Estimate of $1.62 per share, and showing an increase from $1.34 per share a year ago, resulting in an earnings surprise of +9.43% [1] - The company achieved revenues of $762.2 million for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 7.00%, compared to $669.1 million in the same quarter last year [2] Earnings Performance - Over the last four quarters, Spire has surpassed consensus EPS estimates two times and topped consensus revenue estimates three times [2] - The current consensus EPS estimate for the upcoming quarter is $3.78 on revenues of $1.04 billion, and for the current fiscal year, it is $5.30 on revenues of $2.47 billion [7] Market Position - Spire shares have increased by approximately 3.2% since the beginning of the year, outperforming the S&P 500's gain of 1.9% [3] - The Zacks Industry Rank for Utility - Gas Distribution is currently in the bottom 30% of over 250 Zacks industries, indicating potential challenges for the sector [8] Future Outlook - The sustainability of Spire's stock price movement will depend on management's commentary during the earnings call and the trends in earnings estimate revisions [3][4] - The estimate revisions trend for Spire was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, suggesting it is expected to perform in line with the market in the near future [6]

Core Insights - The article discusses the impact of ongoing inflation on the Federal Reserve's monetary policy and suggests focusing on low-beta defensive stocks to navigate market volatility [2][3][10] Economic Context - Inflation has risen, with the personal consumption expenditure (PCE) index increasing by 2.8% year-over-year in November, moving further away from the Federal Reserve's 2% target [6][8] - Personal income growth has slowed, with increases of 0.1% in October and 0.3% in November, below analysts' expectations [9] Investment Recommendations - Investors are advised to consider low-beta defensive stocks, particularly in the utility and consumer staples sectors, to mitigate market fluctuations [4][5] - Featured stocks include: - **Ameren Corp. (AEE)**: Expected earnings growth rate of 8.2%, Zacks Rank 2, beta of 0.58, dividend yield of 2.78% [12][13] - **Fortis, Inc. (FTS)**: Expected earnings growth rate of 4.2%, Zacks Rank 2, beta of 0.50, dividend yield of 3.46% [14][15] - **ONE Gas, Inc. (OGS)**: Expected earnings growth rate of 11.8%, Zacks Rank 2, beta of 0.81, dividend yield of 3.47% [16] - **Hormel Foods Corp. (HRL)**: Expected earnings growth rate of 6.6%, Zacks Rank 2, beta of 0.33, dividend yield of 4.76% [17] - **J&J Snack Foods Corp. (JJSF)**: Expected earnings growth rate of 4.5%, Zacks Rank 2, beta of 0.34, dividend yield of 3.43% [18][19]