Entergy: Visible EPS Growth Backed By Contracted Load Growth

I rate Entergy Corporation a buy, driven by contracted data center and industrial load supporting regulated infrastructure expansion and faster EPS growth. ETR's long-term, risk-mitigated contracts with large customers provide financial visibility and regulatory support for its $67 billion capital plan. Management targets a 16.1% CAGR in rate base and ~13% adj. EPS CAGR through 2030, outpacing peers and supporting a premium valuation. Regulatory approval, customer concentration, and execution risks exist, but ETR's secured resources and customer protections enhance confidence in achieving growth targets.

I give a buy rating to Entergy Corporation ( ETR ). My view is that signed data-centers and industrial loads can become regulated infrastructure, and that infrastructure can expand the rate base, and that should drive EPS growth.