Business mix
- The company operates through Electric; Natural Gas; and Corporate and Other segments.
- The Natural Gas segment engages in the intrastate natural gas sales, and natural gas transportation and distribution for residential, commercial, and industrial customers in Indiana, Minnesota, Ohio, and Texas.
- As of December 31, 2025, it served approximately 2,859,313 metered customers; owned 355 substations with transformer capacity of 81,692 megavolt amperes; and owned and operated approximately 208 miles of intrastate pipeline in Louisiana and Texas.
- The company was founded in 1866 and is headquartered in Houston, Texas.
Current key questions
- Can rate-base growth, allowed returns, and demand support earnings in utilities - regulated electric?
- How do regulation, fuel costs, interest rates, and capital spending affect customer bills and returns?
- Does the balance sheet support required infrastructure investment and dividends?
