Gas Natural (Gas Natural) Debt-to-Equity : 0.65 (As of Mar. 2017)

Gas Natural Inc was incorporated in Montana in 1909 and was reorganized as a holding company in 2009 as a means to facilitate future acquisitions and corporate level financing of natural gas utility and energy-related businesses. On July 9, 2010 the Company moved its state of incorporation to Ohio and changed its name from Energy, Inc. to Gas Natural Inc. The Company is a natural gas company, operating local distribution companies in six states and serving approximately 69,400 customers in total. It reports results in three business segments; Natural Gas, Marketing and Production, Corporate and Other. Natural Gas represents the majority of the Company's revenue, it annually distributes approximately 21 Bcf of natural gas to approximately 68,000 customers through regulated utilities operating in Kentucky, Maine, Montana, North Carolina, Ohio, and Pennsylvania. In the Marketing and Production segment, the Company markets approximately 3.6 Bcf of natural gas to commercial and industrial customers in Montana, Wyoming, Ohio, and Pennsylvania through EWR and GNR subsidiaries. Its EWR subsidiary also manages midstream supply and production assets for transportation customers and utilities. Corporate and Other encompasses the results of corporate acquisitions and other equity transactions and discontinued operations. Included in corporate and other are costs associated with business development and acquisitions, dividend income and recognized gains from the sale of marketable securities. In the Company's natural gas operations, it generally faces competition in the distribution and sales of natural gas from suppliers of other fuels, including coal, electricity, oil and propane. Its utility operations are subject to regulation by the KPSC, MPUC, MPSC, NCUC, PUCO, and the PaPUC. These authorities regulate many aspects of Company's distribution operations, including construction and maintenance of facilities, operations, safety, and regulatory rates charged to customers which control the rate of return it is allowed to realize.