Last $12.51 USD
Change Today -0.1699 / -1.34%
Volume 22.0K
As of 10:23 AM 07/24/14 All times are local (Market data is delayed by at least 15 minutes).

gas natural inc (EGAS) Snapshot

Open
$12.99
Previous Close
$12.68
Day High
$12.99
Day Low
$12.51
52 Week High
07/24/14 - $12.99
52 Week Low
11/25/13 - $7.49
Market Cap
131.2M
Average Volume 10 Days
204.6K
EPS TTM
$0.63
Shares Outstanding
10.5M
EX-Date
07/11/14
P/E TM
19.9x
Dividend
$0.54
Dividend Yield
4.32%
Current Stock Chart for GAS NATURAL INC (EGAS)

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gas natural inc (EGAS) Details

Gas Natural Inc. is engaged in the distribution and sale of natural gas to residential, commercial, and industrial customers. It operates through Natural Gas Operations, Marketing and Production Operations, and Pipeline Operations segments. The company distributes approximately 36 billion cubic feet (Bcf) of natural gas to approximately 72,000 customers through regulated utilities operating in Kentucky, Maine, Montana, North Carolina, Ohio, Pennsylvania, and Wyoming. It markets approximately 1.5 Bcf of natural gas to commercial and industrial customers in Montana, Wyoming, Ohio, and Pennsylvania; and manages midstream supply and production assets for transportation customers and utilities. The company also owns 160 natural gas producing wells and gas gathering assets located in Glacier and Toole counties in Montana. In addition, it owns the Shoshone interstate and the Glacier gathering natural gas pipelines located in Montana and Wyoming. The company was formerly known as Energy, Inc. and changed its name to Gas Natural Inc. in July 2010. Gas Natural Inc. was founded in 1909 and is headquartered in Mentor, Ohio.

281 Employees
Last Reported Date: 03/31/14
Founded in 1909

gas natural inc (EGAS) Top Compensated Officers

Chief Executive Officer, President, Chief Ope...
Total Annual Compensation: $157.5K
Compensation as of Fiscal Year 2013.

gas natural inc (EGAS) Key Developments

Algonquin Eyeing Gas Natural; Algonquin Calls Out Gas Natural For Refusing Merger

Algonquin Power & Utilities Corp. (TSX:AQN) is interested in acquiring stake in Gas Natural Inc. (AMEX:EGAS). Algonquin Power & Utilities has sent the following letter to the Gas Natural Board of Directors. It stated, “As you know, our parent company Algonquin Power & Utilities Corp. (APUC), currently owns approximately 4.9% of the outstanding shares of Gas Natural. Over the past seven months we have sent three letters and reached out numerous times to discuss a potential acquisition of Gas Natural by Liberty Utilities Co. (Liberty Utilities). The proposed transaction would provide an immediate and compelling premium to all Gas Natural shareholders. We urge Gas Natural shareholders to exercise their rights by insisting that the Board immediately commence a process to maximize shareholder value through a sale of the company. We have advised that Liberty Utilities is prepared to move quickly to complete a transaction with Gas Natural that provides superior shareholder value creation with low execution risk, especially when compared to Gas Natural's poorly articulated and highly uncertain standalone strategy. Notwithstanding, with our parent company being a large holder of Gas Natural stock, we share the interest of all shareholders of Gas Natural in maximizing shareholder value. To that end, we are supportive of a transaction structure that would permit a broader sale process and the realization of more than $13.00 per share should a higher offer be made by another qualified party. Notably, however, the only way such value can be delivered to Gas Natural shareholders is for you to commence a process to maximize shareholder value through a sale of the company.” It added, “Our multiple proposals regarding a potential transaction have been consistently rebuffed without any negotiation or significant discussion. On May 7, 2014, we sent our most recent letter to the Gas Natural board in which we expressed interest in acquiring all outstanding shares of Gas Natural at a price of $13 per share, a premium of approximately 40% to Gas Natural's share price as of January 13, 2014, the day before we approached the Gas Natural board regarding a transaction. Importantly, the $13.00 per share price of our proposal also exceeds Gas Natural's all-time high share price of $12.35. Unfortunately, you once again refused to engage in any dialogue. In fact, your response letter stated unconditionally that Gas Natural is "not for sale." We were, of course, taken aback by such a response, given the challenges facing the company.”

Algonquin Reportedly Eye Gas Natural

Algonquin Power & Utilities Corp. (TSX:AQN) reportedly eye Gas Natural Inc. (AMEX:EGAS) and has approached Gas Natural Inc. about a takeover three times this year, according to people familiar with the matter. Algonquin sent letters to Gas Natural's board on January 3, March 5 and May 15 outlining possible takeovers at $10, $12 and $13 a share, respectively, the people said. "It's not unusual for companies to make offers for other companies and in the event such offers are presented to our board, we would evaluate any or all offers," a Gas Natural spokesperson said on July 18, 2014. Algonquin, in April acquired a stake of about 4.9% in Gas Natural and remains interested in pursuing a takeover, the people said. Gas Natural said its "board of directors has not been, nor currently plans to be, engaged in a process to sell the company," in response to a report published by The Deal stating that Gas Natural had talked to prospective buyers earlier 2014. At the time, Gas Natural said its board "fully recognizes its fiduciary responsibility to consider a reasonable offer to be acquired, if any is offered to the company." Algonquin's May letter said it would support a so-called "go shop" provision in a merger agreement, or a clause that allows Gas Natural to solicit higher offers for itself for a modest breakup fee.

Gas Natural Denies Sale

Gas Natural Inc. (AMEX:EGAS) denies for sale. Gas Natural said in its news release that, "The board of directors has not been, nor currently plans to be, engaged in a process to sell the company".

 

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EGAS:US $12.51 USD -0.1699

EGAS Competitors

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Company Last Change
Delta Natural Gas Co Inc $19.87 USD +0.02
Northwest Natural Gas Co $45.76 USD +0.11
NorthWestern Corp $48.65 USD -0.69
RGC Resources Inc $19.18 USD -0.66
South Jersey Industries Inc $55.90 USD -0.03
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Industry Analysis

EGAS

Industry Average

Valuation EGAS Industry Range
Price/Earnings 17.1x
Price/Sales 0.9x
Price/Book 1.3x
Price/Cash Flow 9.9x
TEV/Sales 0.4x
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