Morningstar - Entergy Corporation (ETR) Nuclear Spend Pressures Entergys 2017-18 Outlook; No Change to Fair Value Estimate

Report

Morningstar

Charles Fishman

EUR 147.86 For Business Accounts Only

Nuclear Spend Pressures Entergy's 2017-18 Outlook; No Change to Fair Value Estimate

We are reaffirming our $76 fair value estimate and no-moat and stable moat trend ratings after Entergy reported solid 2016 third-quarter operating earnings versus last year but lowered its outlook for 2017-18. We were not surprised that management lowered its long-term outlook after it indicated in June at the analysts day that financial details of the Nuclear Sustainability Plan would be released about this time. However, the negative impact on 2017 and 2018 earnings was slightly more than we h...

25/10/2016 12 EN

Underlying

Entergy Corporation

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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US29364G1031 New York Stock Exchange United States

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

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.

We have operations in 27 countries.

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Analysts

Charles Fishman

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Nuclear Spend Pressures Entergy's 2017-18 Outlook; No Change to Fair Value Estimate

Vermilion Compass: Weekly Equity Strategy

Entergy Corp: 1 director

Entergy Corporation: Litigation settlement is positive, but financial metrics remain weak

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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