Munger Mode rating: 2 out of 5 — Sell. Our own rating from the research report below, on business quality first: moat durability and management, with price separating the top three.
Warren here, with Charlie's ghost at my elbow keeping me honest. Entergy is a perfectly legitimate regulated electric monopoly serving four Gulf Coast states, and it has stumbled into the most exciting chapter of its 100-year life: Meta is building a $50 billion artificial intelligence data center in rural Louisiana, and Entergy gets to build the power plants. The market has noticed. The stock has been re-rated from a sleepy 13–16 times earnings — where it traded for most of the past two decades — to roughly 26 times forward earnings, a multiple we associate with businesses that have pricing power, not businesses whose prices are set by five state commissions and a city council.
Recent filings analysed: FWP (2026-08-04), 10-Q (2026-07-31), 8-K (2026-07-29), 8-K (2026-06-23).
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