Entergy Corporation (ETR.N): Reflecting on Investor Day Takeaways Given FERC & ERCOT Developments

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Entergy Corporation (ETR.N): Reflecting on Investor Day Takeaways Given FERC & ERCOT Developments

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25 Jun 2026 02:00:00 ET │ 11 pages

Entergy Corporation (ETR.N)

Reflecting on Investor Day Takeaways Given FERC & ERCOT

Developments

CITI’S TAKE Neutral

In the context of FERC’s orders and Citi’s Texas field trip, ETR’s service Price (24 Jun 26 16:00) US$114.69

territory stands out as one of, if not the most, friendly datacenter Target price US$121.00

environments in the U.S. currently. ETR is in a window of time where it

Expected share price return 5.5% should continue to capture growth given its local politics as competitive

regions work through their headwinds. Not surprising, at its investor day, Expected dividend yield 2.2%

ETR extended its >8% EPS growth framework through 2035, disclosed Expected total return 7.7%

10-17GW incremental customer opportunity outside its base plan, and Market Cap US$52,515M

highlighted the ability to serve an additional 15-20GW of load beyond

current forecasts. ETR also reinforced its execution advantage through

secured generation, labor, and supply chain through 2032. Management

continues to frame the current outlook as a base case with meaningful Ryan LevineAC

upside potential from additional customer growth. What could go wrong? +1-212-816-6555

Hurricanes, execution, financing risks, economic slowdown, and ryan.levine@citi.com

increased competition. Amber Zhao

+1-212-816-0644

Things Are Going Well — ETR was able to extend its >8% EPS growth framework amber.zhao@citi.com

through 2035 (vs. through 2029 before) and this plan excludes incremental customer

opportunities currently under development (10-17GW). The company disclosed a 24-

month pipeline of 7-12GW of incremental data center load and 3-5GW of additional

industrial load.