Entergy Announces Sale of Last Merchant Nuclear Site; Path to Fully Regulated Utility Is Now Clear
We are reaffirming our $98 per share fair value estimate for Entergy after it announced an agreement to sell the three nuclear units at Indian Point in New York to a Holtec International subsidiary for decommissioning.We expected an announcement after Entergy management indicated during its 2018 year-end earnings conference call on Feb. 20 that they expected to complete an agreement before year-end. Entergy plans to shut down Unit 2 in April 2020 and Unit 3 in April 2021. The sale likely will c...
Entergy is a holding company. Through its subsidiaries, the company is an integrated energy company engaged mainly in electric power production and retail distribution operations. The company owns and operates power plants. The company has two segments: Utility, which generates, transmits, distributes and sells electric power to retail and wholesale customers in Arkansas, Louisiana, Mississippi, and Texas; and Entergy Wholesale Commodities, which includes the ownership, operation, and decommissioning of nuclear power plants, located in the northern United States, the sale of the electric power produced by its operating plants to wholesale customers, and also provides services to other nuclear power plant owners.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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