Entergy (NYSE:ETR) Issues Quarterly Earnings Results

Entergy (NYSE:ETR) posted its earnings results on Thursday. The utilities provider reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.16, Briefing.com reports. The business had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.98 billion. Entergy had a return on equity of 10.10% and a net margin of 14.75%. During the same quarter last year, the company earned $1.84 EPS. Entergy updated its FY 2024 guidance to 7.050-7.350 EPS and its FY24 guidance to $7.05 to $7.35 EPS.

Entergy Price Performance

ETR stock traded down $0.02 during trading on Friday, hitting $120.80. 2,484,812 shares of the company’s stock traded hands, compared to its average volume of 1,386,426. The business has a fifty day simple moving average of $109.08 and a 200 day simple moving average of $105.71. Entergy has a 52 week low of $87.10 and a 52 week high of $123.61. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.45 and a current ratio of 0.94. The stock has a market capitalization of $25.80 billion, a price-to-earnings ratio of 12.12, a P/E/G ratio of 2.29 and a beta of 0.71.

Entergy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 13th will be issued a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date is Tuesday, August 13th. Entergy’s dividend payout ratio (DPR) is presently 45.34%.

Insider Activity

In other news, CAO Reginald T. Jackson sold 9,229 shares of Entergy stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $108.71, for a total value of $1,003,284.59. Following the completion of the transaction, the chief accounting officer now owns 2,166 shares in the company, valued at approximately $235,465.86. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Entergy news, insider Haley Fisackerly sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $110.23, for a total transaction of $165,345.00. Following the completion of the transaction, the insider now owns 2,479 shares in the company, valued at $273,260.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Reginald T. Jackson sold 9,229 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $108.71, for a total value of $1,003,284.59. Following the completion of the sale, the chief accounting officer now owns 2,166 shares in the company, valued at $235,465.86. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

ETR has been the subject of several research analyst reports. Guggenheim lifted their price objective on Entergy from $118.00 to $128.00 and gave the stock a “buy” rating in a report on Friday. Scotiabank lifted their price target on shares of Entergy from $104.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Friday. Wells Fargo & Company increased their price objective on shares of Entergy from $125.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday. Barclays cut their target price on shares of Entergy from $116.00 to $115.00 and set an “equal weight” rating for the company in a research report on Monday, July 22nd. Finally, BMO Capital Markets lowered their price target on Entergy from $120.00 to $117.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $117.12.

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.