We Remain Confident Entergy's EWC Exit Will Be Cash Flow Neutral
We are reaffirming our fair value estimate of $96 per share and narrow moat rating after Entergy announced it closed the sale of the Vermont Yankee nuclear plant to subsidiaries of NorthStar Group Services.We expected the announcement after the Vermont Public Utility Commission approved the sale on Dec. 6. NorthStar is essentially assuming all decontamination responsibilities for the site in exchange for the portion of Entergy's nuclear decommissioning trust fund, or NDT, designated for the pla...
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.
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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