Entergy announces leadership changes with new COO and CNO

NEW ORLEANS - Entergy Corporation (NYSE: ETR), a major utility serving the southern United States and commanding a market capitalization of $36 billion, has announced a forthcoming change in its executive leadership. The company, which has delivered an impressive 66% return over the past year according to InvestingPro data, will see Pete Norgeot, the current Executive Vice President and Chief Operating Officer, retire on May 1, marking the end of a nearly four-decade tenure in the industry.

Kimberly Cook-Nelson, currently serving as Executive Vice President and Chief Nuclear Officer, will step into the role of Chief Operating Officer. Cook-Nelson’s career with Entergy began in 1996, and she has since held various leadership positions within the company. Her background includes a focus on nuclear power plant operations and a stint at the Institute of Nuclear Power Operations, which has equipped her with extensive experience in organizational effectiveness. Under the current leadership, Entergy has maintained its status as a dividend aristocrat, having maintained dividend payments for 38 consecutive years, as highlighted in InvestingPro’s analysis.

John Dinelli, who has been with Entergy since 1991 and currently holds the position of Senior Vice President and Chief Operating Officer for Entergy’s nuclear operations, will succeed Cook-Nelson as the new Chief Nuclear Officer. Dinelli’s experience includes operational leadership roles at multiple Entergy facilities and a senior reactor operator’s license obtained in 1996.

Drew Marsh, Entergy’s Chair and CEO, praised the outgoing Norgeot for his contributions to the company and expressed confidence in Cook-Nelson’s leadership capabilities and in Dinelli’s expertise to take on the responsibilities of the Chief Nuclear Officer role.

The leadership transition comes at a time when Entergy continues to focus on growth, reliability, and resilience of its energy systems, as well as investments in cleaner energy generation. With annual revenues of $11.9 billion and a solid financial health score rated as ’FAIR’ by InvestingPro, the company aims to balance these initiatives with maintaining affordable energy rates for its 3 million customers across Arkansas, Louisiana, Mississippi, and Texas. Investors should note that ETR is currently trading above its InvestingPro Fair Value, with several additional insights available in the comprehensive Pro Research Report.

Entergy, headquartered in New Orleans, Louisiana, is recognized for its commitment to sustainability and corporate citizenship, contributing over $100 million annually in economic benefits to the communities it serves.

All organizational changes are set to take effect on May 1, as the company prepares for a seamless transition in leadership. This announcement is based on a press release statement from Entergy Corporation.

In other recent news, Entergy Corporation reported its fourth-quarter 2024 earnings, surpassing analyst expectations with an adjusted earnings per share (EPS) of $0.66, compared to the forecasted $0.63. However, the company’s revenue fell short of projections, coming in at $3.01 billion against an expected $3.24 billion. Despite the revenue miss, Entergy’s stock rose by 6.34% in pre-market trading, reflecting investor confidence in the earnings beat and future guidance. Additionally, Entergy announced an expansion of its capital investment plan through 2028 by $2.7 billion, now totaling approximately $37 billion, as noted by Mizuho Securities, which raised its price target to $95 while maintaining an Outperform rating.

Meanwhile, Scotiabank analysts increased Entergy’s stock price target to $89 from $82, citing the company’s strong market position and projected EPS growth exceeding 8% through 2028. Guggenheim Securities also lifted Entergy’s price target to $95, maintaining a Buy rating, following Entergy’s fourth-quarter EPS that exceeded expectations. Entergy’s robust regulatory recovery mechanisms and accelerated cash recovery from customers were highlighted as factors supporting the company’s low-risk growth outlook. The company anticipates an EPS growth rate of greater than 8% compound annual growth rate (CAGR) for the years 2026 to 2028.

The UBS report on the North American Power and Utilities sector noted an expected increase in capital expenditures (capex) by utility companies, which could drive rate base growth to an average of 8.9%. The sector is projected to experience a particularly strong surge in growth capex in 2025, with a projected increase of 29%. These developments suggest a positive outlook for the utilities sector, with Entergy well-positioned to capitalize on these trends.

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