Company Reports

We are reaffirming our fair value estimates and economic moat ratings for US utilities after executives at the Electric Reliability Council of Texas on Tuesday forecast an extraordinary jump in electricity demand in the state during the next five years.

We are reaffirming our $123 fair value estimate for Entergy after the company reported adjusted earnings per share of $1.08 in the first quarter and gave regulatory updates that support our long-term outlook. We are reaffirming our narrow moat rating.

Entergy's growing, energy-hungry customer base and constructive rate regulation in the US Southeast give the company a long runway of earnings and dividend growth potential.

Data center electricity demand growth is a key source of upside for US utilities that we don't think the market appreciates. We consider the sector 9% undervalued as of April 8 in part because we expect electricity demand growth to top market expectations, requiring substantial energy infrastructure investment and boosting utilities' earnings growth.

We are raising our fair value estimate for Entergy to $123 from $120 after the company produced another quarter of consistent earnings growth and presented several updates that support our 7% annual earnings growth outlook through 2028. We are reaffirming our narrow moat rating.

Entergy's growing, energy-hungry customer base and constructive rate regulation in the Southeastern US give the company a long runway of earnings and dividend growth potential.

Entergy's growing, energy-hungry customer base and constructive rate regulation in the Southeastern United States give the company a long runway of earnings and dividend growth potential.

We are reaffirming our $120 fair value estimate for Entergy after reviewing management's latest updates, including a 23% increase in its three-year capital investment plan.

With the U.N. Climate Change Conference, otherwise known as COP28, starting this week, we are reasserting our view that the market underappreciates utilities' critical role in limiting global warming.

We are reaffirming our $120 fair value estimate for Entergy after the company reported $3.27 adjusted earnings per share in the third quarter, up from $2.84 in the same year-ago quarter. Year-to-date earnings are on track to meet our full-year estimate. Management's updates support our long-term growth outlook. We are reaffirming our narrow moat rating.

We are reaffirming our $120 fair value estimate for Entergy after it announced an agreement to sell its Louisiana gas distribution business for $484 million in cash to infrastructure fund Bernhard Capital Partners. We are reaffirming our narrow moat rating.

We are reaffirming our $120 fair value estimate for Entergy after the U.S. Department of Energy awarded $1.2 billion of federal funding to a proposed hydrogen hub in the Gulf Coast, the biggest of the seven hydrogen hubs in the U.S. selected as part of the 2021 Infrastructure Investment and Jobs Act. We are reaffirming our narrow moat rating.

We are reaffirming our fair value estimates and economic moat ratings for all U.S. utilities after the sector fell nearly 5% on Monday. We think the sector's 11% drop since last week offers a rare opportunity for investors to buy high-quality utilities at very attractive prices.

We are reaffirming our $120 fair value estimate for Entergy after the company announced a memorandum of understanding with Monarch Energy to support Monarch's planned 300 megawatt green hydrogen electrolyzer in South Louisiana. We are reaffirming our narrow moat rating.

We are reaffirming our $120 fair value estimate for Entergy after the company reported earnings per share of $1.84 on an adjusted basis for the second quarter, up from $1.78 in the year-ago quarter. Results are on track to meet our full-year outlook. We are reaffirming our narrow moat rating.

Entergy's growing, energy-hungry customer base and constructive rate regulation in the Southeastern United States give the company a long runway of earnings and dividend growth potential.

We are reaffirming our $120 fair value estimate for Entergy after the company reported earning $1.14 per share on an adjusted basis during the first quarter of 2023, down from the first quarter of 2022 due to unfavorable winter weather, as we expected. We are reaffirming our narrow moat and stable moat trend ratings.

Entergy's growing, energy-hungry customer base and constructive rate regulation in the Southeastern United States give the company a long runway of earnings and dividend growth potential.

We are reaffirming our $118 fair value estimate for Entergy after the company reported earning $6.42 per share on an adjusted basis in 2022, up 7% from 2021, beating our expectations, and hitting the top end of management's guidance range. We are reaffirming our narrow moat and stable moat trend ratings.

Entergy's growing, energy-hungry customer base and constructive rate regulation in the Southeastern United States give the company a long runway of earnings and dividend growth potential.