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

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

Entergy Stock Down 6.5 %

Shares of NYSE ETR traded down $9.99 during trading on Friday, reaching $144.79. 3,871,509 shares of the stock were exchanged, compared to its average volume of 1,598,875. The business’s 50-day moving average price is $129.72 and its 200 day moving average price is $117.12. The company has a market capitalization of $30.96 billion, a price-to-earnings ratio of 17.64, a price-to-earnings-growth ratio of 2.54 and a beta of 0.74. Entergy has a twelve month low of $94.85 and a twelve month high of $156.85. The company has a quick ratio of 0.62, a current ratio of 0.94 and a debt-to-equity ratio of 1.81.

Entergy Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Morgan Stanley raised their target price on shares of Entergy from $109.00 to $115.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th. Guggenheim lifted their price target on shares of Entergy from $145.00 to $165.00 and gave the company a “buy” rating in a report on Friday. JPMorgan Chase & Co. upped their price objective on Entergy from $131.00 to $141.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. UBS Group lifted their target price on Entergy from $143.00 to $144.00 and gave the company a “buy” rating in a report on Friday, September 20th. Finally, Royal Bank of Canada upped their price target on Entergy from $137.00 to $140.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Entergy has an average rating of “Moderate Buy” and an average target price of $141.96.

Insider Buying and Selling

In other Entergy news, COO Peter S. Norgeot, Jr. sold 11,472 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $115.16, for a total value of $1,321,115.52. Following the completion of the transaction, the chief operating officer now directly owns 37,888 shares of the company’s stock, valued at $4,363,182.08. This 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. In related news, CEO Andrew S. Marsh sold 3,200 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $121.46, for a total value of $388,672.00. Following the sale, the chief executive officer now directly owns 150,731 shares of the company’s stock, valued at $18,307,787.26. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Peter S. Norgeot, Jr. sold 11,472 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.16, for a total transaction of $1,321,115.52. Following the transaction, the chief operating officer now directly owns 37,888 shares of the company’s stock, valued at approximately $4,363,182.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,810 shares of company stock valued at $6,140,626 in the last quarter. Company insiders own 0.39% of the company’s stock.

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.