Entergy (NYSE:ETR) Issues Earnings Results

Entergy (NYSE:ETR) issued its quarterly earnings results on Thursday. The utilities provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.16, Briefing.com reports. Entergy had a return on equity of 10.10% and a net margin of 14.75%. The firm had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same period last year, the company earned $1.84 EPS. Entergy updated its FY 2024 guidance to 7.050-7.350 EPS and its FY24 guidance to $7.05 to $7.35 EPS.

Entergy Stock Performance

NYSE:ETR traded down $0.02 during midday trading on Friday, reaching $120.80. 2,484,812 shares of the company traded hands, compared to its average volume of 1,386,426. Entergy has a twelve month low of $87.10 and a twelve month high of $123.61. The firm has a market capitalization of $25.80 billion, a price-to-earnings ratio of 12.12, a price-to-earnings-growth ratio of 2.29 and a beta of 0.71. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.45. The company has a fifty day moving average price of $109.08 and a 200 day moving average price of $105.71.

Entergy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 13th will be given a dividend of $1.13 per share. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $4.52 dividend on an annualized basis and a yield of 3.74%. Entergy’s dividend payout ratio is currently 45.34%.

Insider Activity at Entergy

In related news, insider Haley Fisackerly sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $110.23, for a total transaction of $165,345.00. Following the completion of the transaction, the insider now owns 2,479 shares in the company, valued at approximately $273,260.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Entergy news, CAO Reginald T. Jackson sold 9,229 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $108.71, for a total transaction of $1,003,284.59. Following the completion of the transaction, the chief accounting officer now owns 2,166 shares in the company, valued at approximately $235,465.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Haley Fisackerly sold 1,500 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $110.23, for a total value of $165,345.00. Following the completion of the sale, the insider now directly owns 2,479 shares in the company, valued at approximately $273,260.17. The disclosure for this sale can be found here. Insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ETR shares. LADENBURG THALM/SH SH reissued a “neutral” rating and issued a $109.50 price target (down from $117.00) on shares of Entergy in a research note on Wednesday, June 12th. Morgan Stanley cut their price objective on Entergy from $103.00 to $98.00 and set an “underweight” rating on the stock in a report on Monday, June 24th. BMO Capital Markets dropped their target price on Entergy from $120.00 to $117.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. Scotiabank raised their target price on Entergy from $104.00 to $115.00 and gave the company a “sector perform” rating in a report on Friday. Finally, Guggenheim raised their target price on Entergy from $118.00 to $128.00 and gave the company a “buy” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Entergy presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.12.

About Entergy

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.