American Gas - February 2013 - (Page 20)
W a l l street
Invest in Gas
Jibson is bullish with the NYSSA
NEW YORK — In January, AGA Chairman Ron
Jibson spoke to the New York Society of Security
Analysts, with many of his comments focused on
the strengths of natural gas companies from an investment perspective. The industry, he said, offers:
• Positive financial health. “Our core business
is transparent, asset-based, with healthy balance
sheets and positive earning trends,” he said. In
addition to a half-century of paying regular dividends, natural gas utilities have an average bond
rating of BBB+/A-, “significantly higher than the
average ratings of the rest of corporate America.”
• A track record of financial performance.
“Shares of our investor-owned AGA member
companies, as measured by the performance of
the AGA Stock Index, have performed very
strongly against the S&P 500 and Dow Jones
Utilities Average,” he said. In addition, “the Gas
Utility Index Fund…has provided strong returns
over three-, five-, and 10-year periods.”
• Tax advantages. Noting Congress’ recent preservation of relatively low tax rates for dividends
and capital gains (see page 36), he said that
“keeping dividends low will help utilities expand
and rebuild our infrastructure.”
Looking ahead, Jibson discussed some actions needed to increase demand and drive even
greater growth: “We can see greater benefits...
if we…deploy energy-efficiency programs that
fully leverage the efficient use of natural gas for
space and water heating; expand the use of combined heat and power in commercial and industrial applications to unlock the potential for fuel
cells, microgrids, and future energy innovation
using natural gas; and encourage public-private
partnerships to expand the network of refueling
options for natural gas vehicles.”—PH
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American Gas february 2013
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Table of Contents for the Digital Edition of American Gas - February 2013
American Gas - February 2013
Table of Contents
President’s Message
Subject Index
Supplanting Coal, Creating Jobs
Digest
Issues
Updates
Need to Know
By the Numbers
People and Places
Fill ‘er Up—in the Driveway
Europe
State House
City Hall
Wall Street
Elm Street
On the Docket
Profile: Philip B. Jones
Law
Jobs
Buyer’s Guide: Meters
Marketplace
Headway
American Gas - February 2013
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