Data Center OpportunityThe recent announcement of a 50MW data center opportunity beginning in 2027, which could grow to 250MW or more by 2029, provides ~$0.15 of EPS to start, with additional positive knock on effects.
Earnings GrowthYear over year earnings growth was primarily attributable to rate relief in Montana and South Dakota, higher electric transmission revenues, and income tax benefits.
ValuationNWE is considered one of the 'cheapest' SMID-cap names in its peer group, trading at a discount and potentially undervalued relative to de-risking initiatives.