Entergy (NYSE:ETR) Updates FY 2024 Earnings Guidance

Entergy (NYSE:ETR) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 3.575-3.675 for the period, compared to the consensus EPS estimate of 3.630. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. BMO Capital Markets dropped their price objective on Entergy from $83.00 to $79.50 and set an “outperform” rating on the stock in a report on Monday, November 18th. Scotiabank raised their price target on Entergy from $72.00 to $82.50 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. UBS Group boosted their price objective on Entergy from $72.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Argus raised Entergy to a “strong-buy” rating in a report on Wednesday, August 28th. Finally, Bank of America cut shares of Entergy from a “buy” rating to a “neutral” rating and lifted their target price for the company from $69.00 to $77.00 in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $77.40.

Entergy Stock Performance

Shares of ETR stock traded up $0.64 during mid-day trading on Friday, hitting $75.13. The stock had a trading volume of 6,772,929 shares, compared to its average volume of 3,257,159. The firm has a market cap of $32.22 billion, a PE ratio of 18.30, a PEG ratio of 2.48 and a beta of 0.71. The company’s 50-day simple moving average is $72.86 and its 200-day simple moving average is $63.41. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.89 and a quick ratio of 0.59. Entergy has a fifty-two week low of $48.08 and a fifty-two week high of $79.04.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Thursday, October 31st. The utilities provider reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.04. Entergy had a net margin of 14.83% and a return on equity of 9.53%. The firm had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter last year, the firm earned $1.64 earnings per share. Sell-side analysts anticipate that Entergy will post 3.61 earnings per share for the current year.

Entergy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Wednesday, November 13th were paid a $0.60 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.19%. Entergy’s dividend payout ratio (DPR) is presently 58.39%.

Insiders Place Their Bets

In related news, COO Peter S. Norgeot, Jr. sold 15,844 shares of Entergy stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $65.00, for a total transaction of $1,029,860.00. Following the completion of the transaction, the chief operating officer now directly owns 69,986 shares of the company’s stock, valued at approximately $4,549,090. The trade was a 18.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Eliecer Viamontes sold 400 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $73.50, for a total value of $29,400.00. Following the completion of the sale, the insider now directly owns 8,346 shares in the company, valued at $613,431. This trade represents a 4.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,600 shares of company stock worth $2,125,497. 0.39% of the stock is owned by corporate 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.