Capital Investment PlanAnalyst highlights a larger capital program, including an $800 million allocation for 2026 and multi-billion spending over the five-year horizon, which should expand the regulated rate base and support revenue growth.
Earnings OutlookAnalyst raised the earnings-per-share growth outlook to 5–7%, citing rate base expansion, customer additions, and benefits from Texas HB4384 that improve earnings visibility.
Financing And Retained EquityAnalyst notes a shift toward more self-funding that lowers external equity needs, reduces dilution risk, and a declining payout ratio that retains cash to help fund capital spending.