Entergy (NYSE:ETR) Releases FY 2024 Earnings Guidance

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

Entergy Price Performance

ETR traded down $9.99 during trading on Friday, reaching $144.79. The stock had a trading volume of 3,871,509 shares, compared to its average volume of 1,598,875. The stock has a market cap of $30.96 billion, a PE ratio of 17.64, a PEG 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. The business has a 50-day moving average of $129.72 and a 200-day moving average of $117.12. Entergy has a one year low of $94.85 and a one year high of $156.85.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $2.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.91 by $0.08. Entergy had a return on equity of 10.10% and a net margin of 14.75%. The business had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same quarter in the prior year, the business posted $3.27 EPS. As a group, equities research analysts anticipate that Entergy will post 7.21 EPS for the current fiscal year.

Entergy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 13th will be given a $1.20 dividend. The ex-dividend date is Wednesday, November 13th. This is a boost from Entergy’s previous quarterly dividend of $1.13. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.32%. Entergy’s payout ratio is 58.47%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ETR. Bank of America upped their price objective on Entergy from $135.00 to $138.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Scotiabank boosted their target price on Entergy from $119.00 to $144.00 and gave the stock a “sector perform” rating in a report on Friday. Wells Fargo & Company increased their price objective on shares of Entergy from $137.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday. StockNews.com downgraded Entergy from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Morgan Stanley raised their price objective on Entergy from $109.00 to $115.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th. Two 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 assigned a strong buy rating to the company. According to MarketBeat.com, Entergy currently has a consensus rating of “Moderate Buy” and an average price target of $141.96.

Insider Activity at Entergy

In other news, CEO Andrew S. Marsh sold 19,200 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $120.35, for a total transaction of $2,310,720.00. Following the completion of the transaction, the chief executive officer now directly owns 150,731 shares in the company, valued at approximately $18,140,475.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing 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 the stock in a transaction on 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 in the company, valued at $4,549,090. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew S. Marsh sold 19,200 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $120.35, for a total value of $2,310,720.00. Following the completion of the sale, the chief executive officer now owns 150,731 shares of the company’s stock, valued at $18,140,475.85. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,810 shares of company stock worth $6,140,626. 0.39% of the stock is owned by 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.