NUI <NUI> MAY SPIN OFF NONUTILITY OPERATIONS NUI Corp said it is studying the feasibility of spinning off nonutility subsidiaries to shareholders. The company said its propane disution, natural gas spot marketing, data processing, oil and natural gas exploration and production, natural gas gathering and underground pipe replacement businesses had sales for the year ended September 30 of about 74 mln dlrs, or about 25 pct of total company sales. NUI's major subsidiary is utility Elizabethtown Gas.