Entergy (NYSE:ETR) Updates 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 (EPS) guidance of 7.150-7.350 for the period, compared to the consensus estimate of 7.220. The company issued revenue guidance of -.

Entergy Trading Down 6.5 %

NYSE:ETR opened at $144.79 on Friday. The firm has a 50-day simple moving average of $129.72 and a 200-day simple moving average of $117.23. Entergy has a one year low of $94.85 and a one year high of $156.85. The firm has a market cap of $30.96 billion, a P/E ratio of 17.64, a P/E/G ratio of 2.93 and a beta of 0.71. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.62 and a current ratio of 0.89.

Entergy (NYSE:ETR) last issued its quarterly earnings data on Thursday, October 31st. The utilities provider reported $2.99 EPS for the quarter, topping analysts’ consensus estimates of $2.91 by $0.08. The company had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.46 billion. Entergy had a net margin of 14.83% and a return on equity of 9.53%. During the same quarter in the previous year, the firm posted $3.27 earnings per share. Equities analysts anticipate that Entergy will post 7.21 EPS for the current fiscal year.

Entergy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 13th will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $4.80 annualized dividend and a dividend yield of 3.32%. This is an increase from Entergy’s previous quarterly dividend of $1.13. Entergy’s dividend payout ratio is 55.05%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ETR shares. BMO Capital Markets boosted their price objective on Entergy from $146.00 to $166.00 and gave the company an “outperform” rating in a report on Friday. Bank of America boosted their price objective on Entergy from $135.00 to $138.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Wells Fargo & Company raised their price objective on Entergy from $137.00 to $170.00 and gave the company an “overweight” rating in a report on Friday. Morgan Stanley upped their price target on Entergy from $109.00 to $115.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th. Finally, Argus upgraded shares of Entergy to a “strong-buy” rating in a research report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $141.96.

Insider Transactions at Entergy

In other Entergy news, CEO Andrew S. Marsh sold 19,200 shares of the 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Entergy 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 transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available at 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 transaction of $388,672.00. Following the sale, the chief executive officer now directly owns 150,731 shares in the company, valued at $18,307,787.26. 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 valued at $6,140,626 over the last 90 days. Corporate insiders own 0.39% of the company’s stock.

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.