Integrated energy company Entergy Corporation (ETR) scaled new heights in its efforts to curb greenhouse gas emissions.
In its 2010 sustainability report the company disclosed that it has exceeded its 10-year greenhouse gas reduction target. That was the second voluntary commitment by the company to stabilize greenhouse gas emissions at 20% below year 2000 levels. Since the commitment in 2001, Entergy was able to beat its cumulative targets by more than 14%.
Entergy has been actively increasing its generating capacity over the past decade and has added around 4,200 MW of power, out of which 2,400 MW is considered to be from environment-friendly sources.
In addition to the company's sustained organic modes of generating green power, it has also resorted to acquisitions to increase its generation capacity. In April this year, the Entergy unit completed the acquisition of Acadia Energy Center Power Block 2 and 50% of the facility's common assets from Louisiana based Acadia Power Partners LLC for $300 million. The assets include a 580-MW combined-cycle gas-turbine generation plant that would further boost green power generation.
The recent financial performance at Entergy Corporation has also been encouraging. First quarter earnings were $1.38 per share, which comfortably surpassed the year-ago figure of $1.33 and was marginally ahead of the Zacks Consensus Estimate of $1.37.
Looking forward, Entergy is slated to release its second quarter numbers on August 2, 2011. The company expects its 2011 earnings per share to be in the range of $6.35−$6.85. The Zacks Consensus Estimates for second-quarter 2011, fiscal year 2011 and fiscal year 2012 are $1.63, $6.60 and $6.13 per share, respectively.
Entergy Corporation's long-term debt as of March 31, 2011 was $11.6 billion, slightly exceeding the debt level as of December 31, 2010. Accordingly, the debt-to-capital ratio at the end of the first quarter 2011 was 57.6% versus 57.3% at the end of 2010.
Entergy Corporation currently retains a Zacks #3 Rank (short-term Hold rating). The company competes with American Electric Power Co. Inc. (AEP), CenterPoint Energy Inc. (CNP) and Southern Company (SO).
New Orleans, Louisiana based Entergy Corporation, along with its subsidiaries, engages in electric power production and retail electric distribution operations. With 30,000MW of generating capacity, it distributes electricity to 2.6 million customers in Arkansas, Louisiana, Mississippi and Texas.
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