Jim Cramer on Entergy: “It’s One That We’ve Liked Since 2012”

Entergy Corporation (NYSE:ETR) was among the stocks Jim Cramer commented on, saying that tech stocks cannot be trusted to lead anymore. Cramer was quite bullish on the stock, as he stated:

Thanks to the great data center buildout, business is booming for some of the electric utilities. Take Entergy, a regulated electric utility based in New Orleans with a stock that’s up more than 18% year-to-date, 32% over the past 12 months. Proud that we’ve been recommending it ever since my daughter went to Tulane. The company held its investor day today where management laid out some bullish long-term financial targets, thanks in part to Meta’s big data center project in northeast Louisiana, but also some other big projects.

Entergy even came up with a plan for data centers to pay more for electricity in order to offer a fair deal to ratepayers. Thanks to their electric service agreements with the heavy hitters, they should be able to deliver $7 billion worth of savings to the customers over the next two decades… Guys, if you want a utility, you can do a lot worse than ETR. It’s one that we’ve liked since 2012.

Photo by Nicholas Cappello on Unsplash

Entergy Corporation (NYSE:ETR) produces and distributes electricity and natural gas, generating power from gas, nuclear, coal, hydro, and solar sources.

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