Entergy (NYSE:ETR) Announces Quarterly Earnings Results, Beats Expectations By $0.08 EPS

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

Entergy Stock Performance

ETR traded down $9.99 during trading on Friday, reaching $144.79. The company’s stock had a trading volume of 3,829,226 shares, compared to its average volume of 1,598,875. The company’s fifty day moving average price is $129.20 and its 200-day moving average price is $116.82. Entergy has a 52-week low of $94.85 and a 52-week high of $156.85. The company has a market capitalization of $30.96 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 2.54 and a beta of 0.74. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 13th will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Wednesday, November 13th. 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. Entergy’s dividend payout ratio is presently 58.47%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Argus raised Entergy to a “strong-buy” rating in a research note on Wednesday, August 28th. KeyCorp boosted their price target on shares of Entergy from $143.00 to $162.00 and gave the stock an “overweight” rating in a research note on Friday. BMO Capital Markets lifted their price objective on shares of Entergy from $146.00 to $166.00 and gave the company an “outperform” rating in a report on Friday. Royal Bank of Canada increased their target price on shares of Entergy from $137.00 to $140.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Wells Fargo & Company boosted their price target on shares of Entergy from $137.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Entergy has an average rating of “Moderate Buy” and an average target price of $141.96.

Insider Buying and Selling at Entergy

In other Entergy news, COO Peter S. Norgeot, Jr. sold 7,922 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were 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 $4,549,090. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Entergy news, COO Peter S. Norgeot, Jr. sold 3,250 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $122.56, for a total value of $398,320.00. Following the transaction, the chief operating officer now directly owns 34,993 shares in the company, valued at approximately $4,288,742.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Peter S. Norgeot, Jr. sold 7,922 shares of the firm’s stock in a transaction dated 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 $4,549,090. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,810 shares of company stock valued at $6,140,626. 0.39% of the stock is owned by company insiders.

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.