Atlanta-based AGL Resources Inc. on Friday said that its acquisition of NUI Corp. will increase 2005 earnings to a range of $2.10-2.30/share, ahead of this year’s expected earnings of $2.10-2.17. Analysts on average are expecting AGL to earn $2.23/share next year.

The acquisition of NUI is awaiting one remaining regulatory approval, from the Securities and Exchange Commission, and AGL expects to receive that approval soon. NUI shareholders last month overwhelmingly approved the $691 million sale, which was announced in July (see Daily GPI, July 16).

“This is the fifth year of our team’s commitment to provide earnings visibility to Wall Street,” CEO said Paula Rosput Reynolds. “The guidance features an earnings estimate for 2005 that is consistent with our goals of sustainable, repeatable performance and solid growth for the value-oriented investor.”

The energy services holding company also disclosed that its board intends to review the company’s dividend policy in the first quarter of 2005.

AGL’s utility subsidiaries — Atlanta Gas Light, Virginia Natural Gas and Chattanooga Gas — serve approximately 1.8 million customers in three states. Houston-based subsidiary Sequent Energy Management provides natural gas asset management, producer, storage and hub services. The company also owns and operates Jefferson Island Storage & Hub, a high deliverability natural gas storage facility near the Henry Hub.

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