Entergy: Meta's Hyperion Expansion Is The Next Test

I rated Entergy a Buy at ~$105 in February. Its 2027 EPS outlook has since risen, but I was wrong about dilution: equity needs to grow to $7B. Q3 EPS beat by $0.28, with hot weather adding $0.24. Narrowed guidance implies a roughly flat Q4, so the full year barely changed. Louisiana regulators vote in December on $15.1B+ of plants, transmission, and batteries for Meta's Hyperion expansion, ~16% of Entergy's projected 2030 rate base.