Entergy's dividend is secure as company exits merchant nuclear business.
We are reaffirming our $79 per share fair value estimate and no-moat rating after Entergy reported stronger-than-expected 2017 earnings and established in-line 2018 utility, parent and other, or UP&O, segment guidance. Operational earnings in 2017 were $7.20 per share, well above our estimate of $6.80 and the consensus estimate of $6.89 per share. However, UP&O’s full-year adjusted earnings of $4.57 per share was only $0.09 higher than our estimate.Consolidated operational earnings incl...
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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