Entergy (NYSE:ETR) Issues Earnings Results

Entergy (NYSE:ETR) announced its quarterly earnings results on Thursday. The utilities provider reported $2.99 EPS for the quarter, topping the consensus estimate of $2.91 by $0.08, Briefing.com reports. The company had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.46 billion. Entergy had a return on equity of 10.10% and a net margin of 14.75%. During the same period in the prior year, the firm posted $3.27 earnings per share. Entergy updated its FY 2024 guidance to 7.150-7.350 EPS.

Entergy Stock Performance

Shares of ETR stock traded down $9.99 on Friday, hitting $144.79. 3,829,226 shares of the stock traded hands, compared to its average volume of 1,598,875. The company has a market capitalization of $30.96 billion, a PE ratio of 17.80, a PEG ratio of 2.54 and a beta of 0.74. The company’s fifty day moving average is $129.20 and its 200 day moving average is $116.82. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.62. Entergy has a 1-year low of $94.85 and a 1-year high of $156.85.

Entergy Increases Dividend

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

Insider Buying and Selling at Entergy

In other news, COO Peter S. Norgeot, Jr. sold 7,922 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $130.00, for a total transaction of $1,029,860.00. Following the sale, the chief operating officer now directly owns 34,993 shares in the company, valued at approximately $4,549,090. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 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 transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Andrew S. Marsh sold 3,200 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $121.46, for a total value of $388,672.00. Following the completion of the transaction, the chief executive officer now directly owns 150,731 shares of the company’s stock, valued at approximately $18,307,787.26. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,810 shares of company stock worth $6,140,626 over the last 90 days. Insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on ETR shares. Barclays cut their price target on shares of Entergy from $138.00 to $137.00 and set an “overweight” rating on the stock in a report on Monday, October 7th. Argus raised shares of Entergy to a “strong-buy” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. upped their price target on shares of Entergy from $131.00 to $141.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Wells Fargo & Company raised their price objective on Entergy from $137.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday. Finally, UBS Group increased their target price on Entergy from $143.00 to $144.00 and gave the company a “buy” rating in a research note on Friday, September 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Entergy presently has an average rating of “Moderate Buy” and a consensus target price of $141.96.

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.