Who knew stodgy utilities would turn into tech's unsung heroes? JPMorgan analysts Jeremy Tonet and Richard W. Sunderland chose Entergy Corp ETR, NiSource Inc NI, and Vistra Corp VST as top stock picks, betting on a power-hungry AI revolution and surging data center demand to fuel their growth.Entergy: Oops, It Did It Again?Entergy is making waves with yet another massive data center deal in Louisiana. A local filing hints at a $12 billion Hut 8 project, which, if confirmed, would be the utility's third majo ...

Domestic-focused, capital-intensive companies in the Zacks Utilities sector are consistent performers and regularly reward their investors with dividends. The consistent dividend payment ability makes the utilities a bond substitute for the investors.Utility operation is capital intensive, as consistent investment is required to upgrade, maintain and replace old pipelines and maintain and expand infrastructure to provide reliable services to an expanding customer base. The utilities raise their revenues fro ...

Entergy (ETR) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.Individual investors often ...

Nuclear energy stocks have been all the rage in 2024 as investors look to profit from companies powering the AI revolution. However, the market is running out of reasonable places to look in this space. Hyperscaler companies are quickly eating up the excess nuclear energy capacity that U.S. companies have to offer. Firms like Constellation Energy NASDAQ: CEG are even recommissioning mothballed sites to meet the demand. New, full-size nuclear plants cost tens of billions of dollars to build. Additionally, it ...

OAKLAND, Calif., Dec. 16, 2024 /PRNewswire/ -- PG&E Corporation (NYSE: PCG) today announced the appointment of Leo P. Denault to the Boards of Directors of PG&E Corporation and its subsidiary, Pacific Gas and Electric Company, effective February 19, 2025. As Chairman and Chief Executive Officer of Entergy Corporation from 2013 to 2022, Denault transformed the company into a premier utility with one of the nation's cleanest energy portfolios.At Entergy, Denault led the charge to invest in the reliability and ...

Project is expected to result in 500 or more direct new jobs, more than 1,000 indirect jobs and 5,000 construction workers at peak. Expansive technology campus will occupy 4 million square feet on 2,250 acres in Richland Parish. Entergy worked with Meta to address energy needs, and Meta will match its electricity use with 100% clean and renewable energy.RICHLAND PARISH, La., Dec. 4, 2024 /PRNewswire/ -- Today, Meta and Louisiana Economic Development (LED) announced a $10 billion artificial intelligence da ...

NEW ORLEANS, Nov. 1, 2024 /PRNewswire/ -- Entergy Chair and Chief Executive Officer Drew Marsh and members of the senior management team plan to meet with investors during the Edison Electric Institute Financial Conference from Sunday, Nov. 10, to Tuesday, Nov. 12, 2024.Meeting materials will be posted Friday, Nov. 8, to Entergy's Investor Relations website at investors.entergy.com/investors/events-and-presentations.About EntergyEntergy (NYSE: ETR) is a Fortune 500 company that powers life for 3 million cus ...

Financial Performance - Entergy Corporation reported a significant increase in revenue, reaching $3.5 billion for the quarter, representing a 10% year-over-year growth[1]. - The company achieved a net income of $500 million, which is a 15% increase compared to the same quarter last year[1]. - Entergy's net income attributable to the corporation for Q3 2024 was $786.5 million, an increase from $751.6 million in Q3 2023, representing a growth of 4.3%[25]. - Operating revenues for Q3 2024 were $3,370 million, a decrease of 5.3% compared to $3,559 million in Q3 2023[32]. - Consolidated net income for the three months ended September 30, 2024, was $645,754, compared to $669,714 in 2023; for the nine months, net income was $774,022, down from $1,374,026 in 2023[137]. - Consolidated net income for 2024 was $774,022, a decrease of 43.6% compared to $1,374,026 in 2023[142]. - Operating income for the three months ended September 30, 2024, was $1,125,862, a slight decrease from $1,143,383 in 2023; for the nine months, operating income was $1,981,475, down from $2,361,418 in 2023[137]. Customer and Market Growth - Customer growth was noted, with an increase of 2.5% in the number of residential customers, totaling approximately 3 million[1]. - Industrial usage increased due to higher demand from large industrial customers, particularly in the petroleum refining and chlor-alkali industries[28]. - Total retail sales for 2024 were 35,747 GWh, a slight decrease of 0.1% from 35,790 GWh in 2023, with residential sales down 9% and industrial sales up 10%[34]. - Total retail sales increased by 2% to 94,353 GWh in 2024 compared to 92,538 GWh in 2023, driven by industrial demand[59]. Investment and Infrastructure - Entergy expects to invest $20 billion over the next five years to enhance its infrastructure and expand renewable energy capacity[1]. - The company is targeting a 50% reduction in carbon emissions by 2030, aligning with its commitment to achieve net-zero carbon emissions by 2050[1]. - Entergy's capital expenditures for the upcoming year are projected to be approximately $4 billion, primarily focused on grid modernization and renewable projects[1]. - Entergy Corporation expects to issue approximately $4.4 billion of equity through 2028, with about $1.4 billion already contracted under forward sale agreements as of September 30, 2024[88]. - Entergy is planning approximately $25 billion in capital investments from 2025 to 2027, focusing on generation projects, nuclear fleet investments, and transmission improvements[91]. Regulatory and Legal Challenges - Entergy is facing regulatory challenges related to rate cases, which could impact future revenue growth and cost recovery efforts[1]. - Entergy Arkansas committed to forgo recovery of costs related to the 2013 ANO stator incident, leading to a write-off of $78 million in Q3 2023[26]. - Entergy Arkansas recorded a regulatory liability reversal of $92 million in Q3 2024, offsetting reductions in gross revenues from retail one-time bill credits[38]. - Entergy Louisiana recorded expenses of $151 million in Q2 2024 related to the global stipulated settlement agreement[178]. - Entergy Mississippi's formula rate plan for 2024 reflects an earned return on rate base of 6.08%, resulting in a total revenue increase of $64.6 million[182]. Debt and Financing - Interest expense for Entergy increased by $23.3 million in Q3 2024 compared to the previous year, reflecting higher borrowing costs[25]. - The company paid $723,975 in dividends for common stock, an increase from $678,699 in 2023[145]. - Long-term debt, including securitization bonds, rose to $26,563,350 in 2024 from $23,008,839 in 2023[149]. - Net cash flow from financing activities increased by $528 million for the nine months ended September 30, 2024, compared to the same period in 2023, primarily due to long-term debt activity providing approximately $2,742 million in 2024 versus $221 million in 2023[122]. Operational Efficiency - Entergy plans to launch a new energy efficiency program aimed at reducing customer energy consumption by 10% over the next three years[1]. - Other operation and maintenance expenses decreased from $743 million in Q3 2023 to $714 million in Q3 2024, primarily due to lower power delivery and compensation costs[35]. - The effective income tax rate for Q3 2024 was 25%, compared to 25.3% in Q3 2023, primarily due to state income tax accruals[46][47]. Future Projects and Developments - Entergy Arkansas expects the Driver Solar facility, a 250 MW project, to commence commercial operation by the end of 2024, with a substantial completion payment of approximately $100 million expected[97]. - Entergy Louisiana's application for an alternative to the RFP process to acquire up to 3 GW of solar resources was approved by the LPSC in May 2024[98]. - Entergy Texas filed an application for the Legend Power Station (754 MW) and Lone Star Power Station (453 MW), with estimated costs of $1.46 billion and $735.3 million respectively, both expected to be in service by mid-2028[105]. Miscellaneous - The Board declared a dividend of $1.20 per share at its October 2024 meeting[114]. - The company expects to receive $127 million from the U.S. Treasury related to the Vermont Yankee damages case in the fourth quarter of 2024[158]. - The balance of retained earnings as of September 30, 2024, was $11.985 billion, compared to $11.192 billion as of September 30, 2023, indicating an increase of approximately 7.1%[153][155].

As of Nov. 1, 2024, two stocks in the utilities sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the RSI is above 70, according to Benz ...

Entergy Corporation (NYSE:ETR) Q3 2024 Earnings Conference Call October 31, 2024 11:00 AM ET Company Participants Liz Hunter - VP, IR Andrew Marsh - Chairman and CEO Kimberly Fontan - CFO Rod West - Group President, Utility Operations Conference Call Participants Shar Pourreza - Guggenheim Partners Nicholas Campanella - Barclays Julien Dumoulin-Smith - Jefferies Ross Fowler - Bank of America Steve Fleishman - Wolfe Research Jeremy Tonet - JPMorgan Bill Appicelli - UBS Sophie Karp - KeyBanc Capital Markets M ...