Entergy Corporation announced the completion of the sale of its natural gas distribution business to Delta Utilities, a company backed by Bernhard Capital Partners. The sale includes approximately 3,700 miles of natural gas pipelines and 2,200 miles of service lines. Entergy Louisiana's gas business served around 96,000 homes and businesses in the Baton Rouge area, while Entergy New Orleans' gas business served approximately 108,000 homes and businesses in New Orleans.
The transaction received all required federal and state regulatory approvals. Entergy's focus is now on its growing electric utility business, aiming to invest in a stronger, more resilient energy future for the communities it serves.
The press release did not include specific metrics that changed since the last period. As a result of these announcements, the company's shares have moved -0.83% on the market, and are now trading at a price of $82.43. For more information, read the company's full 8-K submission here.
