Entergy (NYSE:ETR) Releases FY 2024 Earnings Guidance

Entergy (NYSE:ETR) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 7.150-7.350 for the period, compared to the consensus estimate of 7.220. The company issued revenue guidance of -.

Analyst Ratings Changes

Several brokerages have recently commented on ETR. Royal Bank of Canada increased their target price on Entergy from $137.00 to $140.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. StockNews.com cut Entergy from a “hold” rating to a “sell” rating in a report on Friday. JPMorgan Chase & Co. raised their price target on Entergy from $131.00 to $141.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Guggenheim raised their price target on Entergy from $145.00 to $165.00 and gave the company a “buy” rating in a report on Friday. Finally, Scotiabank raised their price target on Entergy from $119.00 to $144.00 and gave the company a “sector perform” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $141.96.

Entergy Trading Down 6.5 %

NYSE:ETR traded down $9.99 during mid-day trading on Friday, hitting $144.79. The company had a trading volume of 3,871,509 shares, compared to its average volume of 1,598,875. Entergy has a fifty-two week low of $94.85 and a fifty-two week high of $156.85. The business’s fifty day moving average is $129.72 and its two-hundred day moving average is $117.12. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.62 and a current ratio of 0.94. The firm has a market cap of $30.96 billion, a P/E ratio of 17.64, a P/E/G ratio of 2.54 and a beta of 0.74.

Entergy (NYSE:ETR) last released its earnings results on Thursday, October 31st. The utilities provider reported $2.99 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.08. Entergy had a return on equity of 10.10% and a net margin of 14.75%. The firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.46 billion. During the same quarter in the prior year, the firm posted $3.27 earnings per share. As a group, research analysts expect that Entergy will post 7.21 earnings per share for the current year.

Entergy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 13th will be given a dividend of $1.20 per share. The ex-dividend date is Wednesday, November 13th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.32%. This is a positive change from Entergy’s previous quarterly dividend of $1.13. Entergy’s dividend payout ratio (DPR) is currently 58.47%.

Insider Transactions at Entergy

In other news, COO Peter S. Norgeot, Jr. sold 11,472 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $115.16, for a total transaction of $1,321,115.52. Following the sale, the chief operating officer now owns 37,888 shares of the company’s stock, valued at $4,363,182.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, COO Peter S. Norgeot, Jr. sold 7,922 shares of Entergy stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $130.00, for a total value of $1,029,860.00. Following the sale, the chief operating officer now owns 34,993 shares of the company’s stock, valued at approximately $4,549,090. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Peter S. Norgeot, Jr. sold 11,472 shares of Entergy stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $115.16, for a total value of $1,321,115.52. Following the completion of the sale, the chief operating officer now directly owns 37,888 shares in the company, valued at approximately $4,363,182.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,810 shares of company stock valued at $6,140,626 over the last 90 days. 0.39% of the stock is owned by company insiders.

Entergy Company Profile

Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. It generates, transmits, distributes, and sells electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, including the City of New Orleans; and distributes natural gas.