Entergy Corp. is a vertically integrated utility, primarily with electric operations in the Gulf Coast region. The company has wholesale and retail electric operations through its five regulated subsidiaries. Its generation, transmission, and distribution operations serve about three million electric customers in Arkansas, Lousiana, Mississippi, and Texas. Entergy had served about 200,000 natural gas customers before selling gas distribution operations in 3Q25. Natural gas revenues in 2025 were $113 million. The company has about 16,000 transmission lines and 24 GW of generating capacity and operates five nuclear reactors. It purchases about 16% of its generating power. Its current generation mix is about 21% nuclear, 68% natural gas, 8% coal, and 3% renewable sources. Management projects it will retire its coal facilities by the end of 2030. Total operating revenues in 2025 were $12.95 billion. Of total 2025 retail sales, about 70% were from industrial and commercial customers and about half were from Entergy Louisiana. ETR had a 2-for-1 stock split with a trading date of December 13, 2024. The current market cap is about $50.6 billion.

In May, the S&P 500 rose 5.2%, the Nasdaq ripped higher by 8.4%, and the Nasdaq 100 surged 10.6%. The Technology Sector SPDR (XLK) jumped 20%. More impressively, the two-month gain reached 43.7%. Tulip mania? We are not going to dig deeper on that question, but will say that stocks likely will not move higher forever. And if an investor is starting to feel that some degree of defensiveness is needed, we'll say that corporate insiders apparently are starting to agree. We review many insider-sentiment data points from Vickers Stock Research, but will highlight one indicator we don't often discuss. Vickers tracks the volume of Form 144 filings, through which insiders register their intent to sell restricted shares. Some 3,222 Form 144s were filed in May. The last time we saw that many 144s was in December of 2024, when the DJIA was at 44,910. By April of 2025, the index was 15% lower. One-week insider-sentiment sector data also suddenly suggests caution. Departing from the bullish sentiment seen over the two prior weeks (when eight of the 11 sectors recorded bullish one-week readings), only two sectors (Energy and Financial) now boast bullish one-week sentiment. Meanwhile, six sectors are neutral and three sectors are squarely in bearish territory. The bearish sectors are Communication Services, Materials, and Utility. We will be paying close attention to whether the longer-term (eight-week) readings shift in a negative direction over the next few weeks. This week, analysts at Vickers highlighted insider transactions of interest at Power Integrations Inc. (NGS: POWI) and MP Materials Corp. (NYSE: MP).

Entergy is a holding company with five regulated vertically integrated utilities that generate and distribute electricity to 3 million customers in Arkansas, Louisiana, Mississippi, and Texas. It is one of the largest power producers in the country with 27 gigawatts of rate-regulated owned and leased power generation capacity. Entergy was the second-largest nuclear owner in the US before it began retiring and selling its plants in the Northeast in 2014. It sold its two small gas utilities in Louisiana in 2025.

Entergy is a holding company with five regulated vertically integrated utilities that generate and distribute electricity to 3 million customers in Arkansas, Louisiana, Mississippi, and Texas. It is one of the largest power producers in the country with 27 gigawatts of rate-regulated owned and leased power generation capacity. Entergy was the second-largest nuclear owner in the US before it began retiring and selling its plants in the Northeast in 2014. It sold its two small gas utilities in Louisiana in 2025.