Entergy's Power Play: TX Regulators Delay Key Decision! What's Next?
Entergy's Transmission Line: A Texas-Sized Debate
The Texas Public Utility Commission (PUC) has postponed a crucial decision regarding Entergy's proposed 150-mile high-voltage transmission line. This project aims to bolster electricity supply to Houston's rapidly expanding suburbs, but the route is proving controversial.
After extensive discussions in Austin, commissioners opted to table the matter until their October meeting, leaving landowners and local officials in a state of uncertainty. The primary point of contention revolves around the line's potential path, specifically whether it will traverse Lake Livingston.
Lake Livingston and Willis Residents Voice Concerns
PUC Chair Thomas Gleeson hinted at a preference for a route across Lake Livingston, sparking strong reactions from communities north and south of the lake. Lake Livingston is a vital water source, supplying nearly 70% of Houston's drinking water. City officials and the Trinity River Authority (TRA) have voiced concerns about the potential impact on water quality and safety.
Meanwhile, residents in Willis, Montgomery County, fear the line could devastate their neighborhood. Some claim they weren't properly notified about the project and lacked a fair opportunity to voice their concerns. One homeowner stated, "We’re all losing property. We’re frustrated by this process." Another resident, George Webster, fears the line will run directly over his house, potentially wiping out his community.
Viking Fund Management Increases Entergy Stake
In other news, Viking Fund Management LLC recently increased its stake in Entergy Corporation (NYSE:ETR) by 16.1%, acquiring an additional 18,000 shares. This move makes Entergy their 19th largest investment. However, insider transactions reveal that Haley Fisackerly sold a significant portion of their shares.
Entergy's recent earnings report showed a positive EPS of $1.05, exceeding expectations. Analysts have set new price targets for the stock, ranging from $86.00 to $109.00.
- Viking Fund Management now holds 130,000 shares of Entergy.
- Haley Fisackerly reduced their Entergy position by 57.36%.
- Entergy's EPS surpassed estimates.
The PUC's delayed decision and Viking Fund Management's investment highlight the complexities and ongoing developments surrounding Entergy.