Thank you for your excellent serve.
Earl
If we look at consensus estimates, EPS is expected to go from $1.10 this year to $1.62 in 2026, to $1.72 in 2027. Cash flow is also growing, but is less than in years 2020 and 2021. This could limit dividend increases: the dividend has not been raised since 2017. NPI has not provided much new info on the Hai Long project, but Taiwan has had some issues with offshore wind projects and has experienced some blackouts. But its impact would be in the consensus numbers above. The stock is up 13% this year. There may be upside with lower rates and continued execution. It is a bit of a 'sleeper' stock and priced at 18X neither cheap nor expensive. We would be OK with it as a HOLD but would focus on income here, not growth, at least in the short term.