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 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 Stock Up 0.2 %

Shares of Entergy stock opened at $134.40 on Thursday. Entergy has a 52-week low of $94.63 and a 52-week high of $138.24. The company has a quick ratio of 0.62, a current ratio of 0.94 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $28.74 billion, a P/E ratio of 16.08, a P/E/G ratio of 2.56 and a beta of 0.74. The company has a 50 day moving average of $128.48 and a 200 day moving average of $116.55.

Entergy (NYSE:ETR) last announced its earnings results on Thursday, August 1st. The utilities provider reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.16. The company had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.98 billion. Entergy had a return on equity of 10.10% and a net margin of 14.75%. During the same period last year, the business posted $1.84 EPS. As a group, research analysts forecast 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. Investors of record on Wednesday, November 13th will be given a dividend of $1.20 per share. This is an increase from Entergy’s previous quarterly dividend of $1.13. This represents a $4.80 annualized dividend and a dividend yield of 3.57%. The ex-dividend date is Wednesday, November 13th. Entergy’s payout ratio is currently 54.07%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ETR shares. Bank of America lifted their price objective on Entergy from $135.00 to $138.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Barclays reduced their price target on shares of Entergy from $138.00 to $137.00 and set an “overweight” rating for the company in a research note on Monday, October 7th. Morgan Stanley upped their target price on Entergy from $109.00 to $115.00 and gave the company an “underweight” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. raised their price target on shares of Entergy from $131.00 to $141.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Finally, Wells Fargo & Company lifted their target price on shares of Entergy from $125.00 to $137.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $131.19.

Insider Buying and Selling

In other news, insider Eliecer Viamontes sold 5,166 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $120.00, for a total transaction of $619,920.00. Following the completion of the sale, the insider now owns 5,117 shares in the company, valued at $614,040. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Entergy news, 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 value of $1,029,860.00. Following the completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eliecer Viamontes sold 5,166 shares of Entergy stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $120.00, for a total value of $619,920.00. Following the sale, the insider now owns 5,117 shares of the company’s stock, valued at approximately $614,040. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,810 shares of company stock valued at $6,140,626 over the last ninety days. 0.54% 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.