Investment Thesis
Entergy (ETR) delivered a good Q4 2019 with high single-digit earnings growth. Looking forward, the company’s 3-year $12 billion capital projects should continue to drive its EPS growth by about 5-7% annually through 2022. The company also has a solid balance sheet to support its growth. Entergy currently pays a 3.8%-yielding dividend and has increased its dividend for 5 consecutive years. We believe the company should be able to deliver a return of 22.3% by the end of 2021. Therefore, this is a good stock to own for dividend growth investors.
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