Core Viewpoint - Atmos Energy (NYSE: ATO) has shown strong performance over the past year, with a 27% increase in share price, attributed to solid execution and predictable cash flows in the industry [1] Company Performance - The company benefits from recent legislation in Texas that enhances its regulatory environment, contributing to its strong performance [1] Industry Context - Atmos Energy is noted for having one of the most predictable cash flows in the utility sector, which is a significant advantage in the current market [1]

Core Points - ONE Gas, Inc. will release its third quarter 2025 financial results on November 3, 2025, after market close [1] - The conference call to discuss these results will take place on November 4, 2025, at 11 a.m. Eastern Standard Time [2] - ONE Gas is a regulated natural gas utility and is included in the S&P MidCap 400 Index, serving over 2.3 million customers across Kansas, Oklahoma, and Texas [3][4] Company Overview - ONE Gas operates divisions including Kansas Gas Service, Oklahoma Natural Gas, and Texas Gas Service, making it one of the largest natural gas utilities in the U.S. [3][4] - The company is headquartered in Tulsa, Oklahoma, and provides reliable and affordable energy choices [4]

Summary of CenterPoint Energy's 2025 Investor Update Call Company Overview - **Company**: CenterPoint Energy - **Event**: 2025 Investor Update Call - **Key Management**: Jason Wells (CEO), Aziz Soto (COO), Jason Ryan (EVP of Regulatory Services), Chris Foster (CFO) Core Industry Insights - **Industry**: Utility Sector - **Focus**: Energy demand growth, capital investments, regulatory environment, customer experience Key Financial Updates - **2025 Non-GAAP EPS Guidance**: Increased from $1.74-$1.76 to $1.75-$1.77, representing a 9% growth from the previous year [5][53] - **2026 Non-GAAP EPS Guidance**: Initiated at $1.89-$1.91, targeting at least the midpoint, which indicates an 8% growth from the new 2025 guidance [5][53] - **Capital Investment Plan**: Announced a $2 billion increase to the customer-driven capital investment plan through 2030, totaling $65 billion over the next 10 years [6][8] Growth Projections - **Peak Electric Load Demand**: Anticipated to increase nearly 50% to over 30 gigawatts by 2031 and nearly double to 42 gigawatts by 2035 [7] - **Investment Breakdown**: $33 billion expected from 2026-2030 and $32 billion from 2031-2035 [8] - **Incremental Capital Opportunities**: Over $10 billion identified for additional investments, including smart meter deployment and data center-related projects [9] Operational Efficiency - **O&M Reduction**: Targeting a 1%-2% reduction in operating and maintenance costs annually through 2035 [11] - **Dividend Growth**: Moderating to approximately 6% over the 10-year plan, with a payout ratio expected to remain above 45% [10][51] Regulatory Environment - **Rate Cases**: Successful outcomes in five general rate cases over the last two years, improving equity ratios and returns on equity [33][34] - **Legislative Support**: New laws in Texas facilitating faster regulatory processes for utility projects, enhancing the ability to meet growing energy demands [36][37] Customer-Centric Initiatives - **Customer Experience**: Investments aimed at improving safety, reliability, and resiliency of energy systems [8][30] - **Affordability Focus**: Striving to keep average customer charges in line with historical inflation rates while investing in system modernization [39][43] Economic Context - **Texas Growth**: Texas added over 560,000 residents annually from 2020 to 2024, driving a 7% cumulative growth rate, benefiting the utility's service territories [17] - **Houston's Industrial Expansion**: Houston's diverse industrial base, including energy, manufacturing, and healthcare, is expected to drive significant increases in energy demand [18][19] Conclusion - **Long-Term Vision**: CenterPoint Energy is positioned to capitalize on the explosive growth in energy demand, with a robust investment plan aimed at enhancing customer outcomes and delivering value to investors [55][56]

Financial Performance & Guidance - CenterPoint Energy is increasing its 2025 non-GAAP EPS guidance target range from $1.74 - $1.76 to $1.75 - $1.77, representing 9% growth at the midpoint from 2024 results[14] - The company is initiating its 2026 non-GAAP EPS guidance targeting at least the midpoint of $1.89 - $1.91, representing 8% growth from the midpoint of the raised 2025 guidance[14] - The company is raising its annual non-GAAP EPS growth target to 7–9% through 2035, expecting to be in the mid-to-high end of the range for 2026-28[20] Capital Investment Plan - CenterPoint Energy introduces a $65 billion 10-year customer-driven capital investment plan with $10 billion+ of upside opportunities[14, 20] - The company expects 11%+ rate base growth through 2030 and projects a rate base of ~$65 billion in 2035[20, 37] - The company expects to recover ~85% of investments through forward test year rate cases and interim capital trackers through 2030[20] Operational Efficiency & Financing - The company is targeting 1–2% annual O&M reductions on average through 2035, resulting in $100MM - $200MM reduction[20, 40] - Approximately 65% of investments are expected to be funded by operating cash flow over the life of the 10-year plan[20] - The company plans ~$3 billion of equity issuances from 2028 through 2035[20] Regulatory & Customer Affordability - The company expects ~98% of Houston Electric investments to be recovered through interim mechanisms from 2026-2030[94] - The company's average monthly delivery charge at Houston Electric is approximately $50, similar to 2014 levels[44]

Core Insights - The article discusses the importance of accessing portfolio information for investment decisions [1] Group 1 - The need for sign-in to access portfolio highlights the emphasis on security and personalized investment management [1]

Core Insights - Carl Icahn's Icahn Enterprises portfolio is valued at $7.89 billion, with the top five holdings comprising 89.74% of total assets, indicating a highly concentrated investment strategy [1][7] Group 1: Portfolio Overview - The largest position is Icahn Enterprises (IEP), valued at $3.98 billion, representing 50.47% of the total portfolio, highlighting Icahn's alignment with shareholders [2] - CVR Energy Inc. (CVI) is the second-largest position, valued at $1.89 billion, accounting for 23.97% of the portfolio, reflecting confidence in its cash generation potential [3] - Southwest Gas Holdings (SWX) holds a value of $560 million, making up 7.11% of the portfolio, with Icahn advocating for strategic changes [4] - CVR Partners LP (UAN) is valued at $370 million, representing 4.69% of the portfolio, linked to agricultural commodity prices [5] - International Flavors & Fragrances (IFF) rounds out the top five with a value of $276 million, accounting for 3.50% of the portfolio, focusing on operational improvements [6] Group 2: Investment Strategy - The portfolio's concentration underscores Icahn's activist investment style, characterized by significant positions in companies where he believes shareholder value can be unlocked through strategic changes [7]

Group 1 - Sempra will sell a 45% equity interest in its infrastructure unit for $10 billion in cash and has approved a $14 billion expansion of its Port Arthur LNG project in Texas [1][2] - The deal will result in a KKR-led consortium becoming the majority owner of Sempra Infrastructure Partners with a 65% stake, while Sempra will retain a 25% interest [2] - The transaction implies an equity value of $22.2 billion for Sempra's unit and is expected to close between the second and third quarters of 2026 [3] Group 2 - Sempra expects the deal to add approximately 20 cents to annual earnings per share starting from 2027 [3] - Following the announcement, Sempra's shares increased by 3.2% to $85 in premarket trading [3]

Incident Overview - A gas pipeline leakage involving Petronas Gas Berhad occurred at the East Coast Rail Link project site in Kerteh, but it is not expected to affect the project's progress according to Transport Minister Anthony Loke [1][4] - Immediate action was taken to shut off the gas supply and initiate repair works once the leak was detected [2][3] Investigation and Response - The incident is under investigation by several agencies, including SIRIM and the National Institute of Occupational Safety and Health, with a report already submitted by Malaysia Rail Link Sdn Bhd [3] - Petronas will handle the repairs since it involves their asset, and the timeline for repairs will be provided by them [4] Safety and Impact - Loke noted that gas pipeline leaks typically do not lead to explosions, differentiating this incident from a previous one in Putra Heights [1] - The main Kerteh-Ranggon road was closed to all vehicles following the gas leak [2] Related Developments - The Federal Government has allocated 40.81 million ringgit over five years to support eight routes under the Stage Bus Service Transformation programme in Kuala Terengganu, with an annual allocation of 8.16 million ringgit [5] - Since the expansion of the BAS dot MY Kuala Terengganu service in February, the average monthly ridership has increased to 24,000 passengers as of August 2025 [5][6]

CHUKAI: Police have closed the main Kerteh-Ranggon road to all vehicles following a gas leak detected in a Petronas Gas Berhad pipeline at the East Coast Rail Link Section 5 project site in Kerteh. Kemaman police chief Superintendent Mohd Razi Rosli confirmed they received an emergency call at approximately 9.53 am reporting a leak in a butane gas pipeline containing flammable gas. He stated that the leak occurred about two kilometres from the main road and did not affect any villages or residential areas. ...

Core Insights - New Jersey Resources Corporation (NJR) has approved a 5.6% increase in its quarterly dividend rate, raising it to 47.5 cents per share, effective October 1, 2025 [1][9] - This marks the company's 30th consecutive annual dividend increase, with the new annualized dividend rate set at $1.90 per share, resulting in an annualized dividend yield of 4.03%, significantly higher than the S&P 500 average of 1.50% [2][9] Financial Strategy and Growth - NJR follows a systematic capital investment strategy focused on modernizing infrastructure and expanding clean energy programs, aiming for 7-9% long-term net financial earnings per share growth annually [3] - The company plans to invest between $650 million and $770 million in fiscal 2025 and between $655 million and $835 million in fiscal 2026, which is expected to generate strong cash flows for shareholder returns [4] Customer Base and Demand - NJR's principal subsidiary, New Jersey Natural Gas (NJNG), serves 588,000 customers as of the end of fiscal Q3 2025, an increase from 583,000 at the end of fiscal 2024, indicating strong customer demand and growth potential [5] - The service area of NJNG is experiencing notable development, driven by an increasing trend toward year-round living, which is expected to sustain customer additions and demand for NJR's services [5] Renewable Energy Initiatives - NJR, through its Clean Energy Ventures, operates solar projects with a total capacity of 449 megawatts (MW) and is increasing its renewable power generation capacity to meet rising clean energy demand [6] Industry Context - Other utility companies have also announced dividend hikes, reflecting the stable operations and earnings typical in the utility sector, which supports regular dividend increases [7][8]