Entergy (NYSE:ETR) Issues FY 2024 Earnings Guidance

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

Entergy Stock Performance

Shares of Entergy stock traded down $9.99 during trading on Friday, hitting $144.79. 3,871,509 shares of the stock were exchanged, compared to its average volume of 1,598,875. Entergy has a 12 month low of $94.85 and a 12 month high of $156.85. The stock has a market cap of $30.96 billion, a PE ratio of 17.64, a P/E/G ratio of 2.54 and a beta of 0.74. The stock’s fifty day moving average is $129.72 and its 200 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.

Entergy (NYSE:ETR) last posted its earnings results on Thursday, October 31st. The utilities provider reported $2.99 earnings per share for the quarter, topping the consensus estimate of $2.91 by $0.08. The firm 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 previous year, the company earned $3.27 EPS. As a group, sell-side analysts anticipate that Entergy will post 7.21 EPS for the current year.

Entergy Increases Dividend

The business also recently announced 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. This is a positive change from Entergy’s previous quarterly dividend of $1.13. This represents a $4.80 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Wednesday, November 13th. Entergy’s payout ratio is presently 58.47%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ETR. Royal Bank of Canada boosted 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. Scotiabank increased their price objective on Entergy from $119.00 to $144.00 and gave the stock a “sector perform” rating in a research note on Friday. Guggenheim increased their price objective on Entergy from $145.00 to $165.00 and gave the company a “buy” rating in a report on Friday. BMO Capital Markets boosted their target price on Entergy from $146.00 to $166.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, StockNews.com lowered Entergy from a “hold” rating to a “sell” rating in a research report on Friday. Two equities research analysts have 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $141.96.

Insider Activity at Entergy

In other Entergy news, COO Peter S. Norgeot, Jr. sold 11,472 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.16, for a total value of $1,321,115.52. Following the completion of the transaction, the chief operating officer now owns 37,888 shares in the company, valued at approximately $4,363,182.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Entergy news, COO Peter S. Norgeot, Jr. sold 11,472 shares of the company’s stock in a transaction dated 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 transaction, the chief operating officer now directly owns 37,888 shares of the company’s stock, valued at $4,363,182.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Peter S. Norgeot, Jr. sold 7,922 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer now owns 34,993 shares in the company, valued at $4,549,090. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,810 shares of company stock worth $6,140,626 in the last three months. 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.