Entergy Corp Stock Price, News & Analysis

Entergy Louisiana, LLC has finalized the acquisition of the Washington Parish Energy Center for approximately $261 million. The 361-megawatt natural gas-powered facility, located near Bogalusa, will serve as a peaking plant, enhancing Entergy's clean-energy portfolio. This acquisition aims to improve reliability and efficiency, as it will replace older, less efficient natural gas plants. The purchase was approved by the Louisiana Public Service Commission and marks a strategic move towards providing reliable power at competitive rates.

The U.S. Nuclear Regulatory Commission has approved the transfer of Indian Point Energy Center's licenses from Entergy to Holtec International, enabling prompt decommissioning. This transfer is scheduled for May 2021, following the shutdown and defueling of Unit 3 by April 30, 2021. Entergy’s CEO stated the sale will lead to faster site remediation. Holtec, with prior experience in decommissioning, will offer jobs to approximately 300 current employees. There is also a pending petition with the New York Public Service Commission regarding this transaction.

Entergy Corporation (NYSE: ETR) appointed Brian Ellis as a director, effective October 30, 2020. Ellis, with nearly 30 years of legal and corporate governance experience, aims to enhance Entergy's strategic direction. His background includes serving as senior vice president and general counsel at Danaher Corporation. With this appointment, Entergy's board expands to 11 members, signaling a commitment to sustainable value creation. The company operates power plants with about 30,000 megawatts capacity and has annual revenues of $11 billion.

Entergy Corporation (NYSE: ETR) has announced a quarterly dividend increase to $0.95 per share, up by $0.02. The dividend will be payable on Dec. 1, 2020, to shareholders on record as of Nov. 12, 2020. This marks a continuation of dividend payments since 1988. Entergy serves 2.9 million utility customers across Arkansas, Louisiana, Mississippi, and Texas, with annual revenues of $11 billion and a generating capacity of approximately 30,000 megawatts.

Entergy Corporation (NYSE: ETR) reported Q3 2020 earnings of $2.59 per share as-reported and $2.44 adjusted, reflecting strong performance despite challenges. Total earnings reached $521 million, up from $365 million in Q3 2019. The company's adjusted EPS guidance for 2020 is narrowed to $5.60-$5.70. Noteworthy projects include the launch of the Capital Region Solar facility in Louisiana. However, the Utility segment reported lower sales volume due to COVID-19 and Hurricane Laura, impacting overall results.

Entergy Corporation (NYSE: ETR) is set to release its third quarter 2020 financial results before the market opens on October 28, 2020. A conference call to discuss these results will occur at 10 a.m. CT the same day, available via webcast and phone. Entergy operates with approximately 30,000 megawatts of generating capacity, including 8,000 megawatts of nuclear power, serving 2.9 million customers in the southern U.S. The company anticipates sharing revised materials on its website around this event.

Entergy continues power restoration efforts after Hurricane Delta significantly impacted its service territory. As of Sunday morning, approximately 224,000 customers remain without power, down from a peak of 495,000. Delta made landfall as a Category 2 storm in Louisiana, causing widespread damage. Restoration efforts have already restored power to 54% of affected customers. Entergy's storm team of nearly 13,600 workers is employing drones and helicopters to assess damages. The company focuses on restoring critical infrastructure first before addressing other outages.

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Entergy Corporation (NYSE: ETR) reported significant progress in power restoration efforts following Hurricane Laura, which impacted over 900,000 customers. As of September 22, 2020, approximately 99% of those affected have had power restored. The storm caused extensive damage to Entergy's infrastructure, including more than 600,000 outages and estimated restoration costs between $1.5 billion and $1.7 billion. Entergy expects utility revenues to be adversely impacted by around $35 million to $40 million due to these outages while affirming its 2020 adjusted earnings guidance of $5.45 to $5.75 per share.