ET - CenterPoint completes Energy Transfer sale wins improved credit thresholds

CenterPoint Energy (NYSE:CNP -0.3%) says it has fully exited its midstream interest with the sale of its Energy Transfer (ET +0.9%) holdings, including its remaining 51M common units and all its Series G preferred units in Energy Transfer. CenterPoint says it sold Energy Transfer at a ~20% premium to the common unit price after the deal between ET and Enable Midstream Partners in February 2021. Additionally, CenterPoint says Moody's lowered the threshold of cash flow from operations to debt ratio to 13% from 14%, as agency cited the company's recent credit strengths, including improving business risk profile with the exit of the midstream business. "We are committed to delivering on our strategic plan, which includes more than $40B of capital investments in our utility footprint over our 10-year financial plan, as well as 8% non-GAAP EPS growth annually through 2024 and the mid-to-high end of 6-8% annual growth of non-GAAP

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CenterPoint completes Energy Transfer sale, wins improved credit thresholds