Entergy (ETR) Rallies 6.8% on Meta Deal

Entergy Corp. (NYSE:ETR) is one of the 10 Stocks Investors Are Tracking Now.

Entergy rallied for a fifth straight day on Friday, jumping 6.82 percent to close at $109.88 apiece, as investors gobbled up shares after clinching a new deal with Meta Platforms that would result in as much as $2.65 billion in customer savings for its customers.

In a statement, Entergy Corp. (NYSE:ETR) said that it earned the backing of Meta for its hyperscale data center in Northeast Louisiana, under which the latter would shoulder the full cost of service, including resilience and storm-related investments that otherwise would be borne by existing customers.

Photo from Entergy website

Additionally, Meta would contribute to The Power to Care program, energy efficiency initiatives, incremental carbon-free nuclear energy solutions, as well as renewable energy options, including up to 2,500 megawatts of additional solar.

This, in turn, could support $2 billion in additional savings for Entergy customers, on top of the $650 million announced previously.

“This agreement reflects what’s possible when strong partners align around long-term growth and value,” Entergy Corp. (NYSE:ETR) President and CEO Phillip May said.

“Working with our customers, regulators and state leaders, we are making targeted investments that strengthen reliability, support economic development and deliver meaningful benefits to customers—all while keeping energy rates affordable, which aligns perfectly with Meta’s Ratepayer Protection Pledge and Entergy’s Fair Share Plus pledge,” he added.

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