What is Scotiabank’s Forecast for Entergy FY2024 Earnings?

Entergy Corporation (NYSE:ETR) – Analysts at Scotiabank boosted their FY2024 earnings estimates for shares of Entergy in a research report issued on Wednesday, January 8th. Scotiabank analyst A. Weisel now anticipates that the utilities provider will post earnings per share of $3.63 for the year, up from their prior estimate of $3.58. Scotiabank has a “Sector Perform” rating and a $82.00 price target on the stock. The consensus estimate for Entergy’s current full-year earnings is $3.61 per share. Scotiabank also issued estimates for Entergy’s FY2025 earnings at $3.87 EPS.

Entergy (NYSE:ETR) last issued its earnings results on Thursday, October 31st. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.04. The company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.46 billion. Entergy had a return on equity of 9.53% and a net margin of 14.83%. During the same period in the prior year, the business earned $1.64 EPS.

A number of other equities analysts have also recently commented on ETR. Guggenheim raised their target price on Entergy from $72.50 to $82.50 and gave the company a “buy” rating in a report on Friday, November 1st. Barclays upped their price target on Entergy from $68.50 to $76.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Bank of America downgraded shares of Entergy from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $69.00 to $77.00 in a research note on Monday, November 4th. Wells Fargo & Company lifted their price target on Entergy from $68.50 to $85.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, StockNews.com raised Entergy from a “sell” rating to a “hold” rating in a research report on Sunday, December 29th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Entergy presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.37.

Entergy Trading Up 1.0 %

NYSE ETR opened at $76.69 on Thursday. The stock has a market capitalization of $32.89 billion, a P/E ratio of 18.68, a PEG ratio of 2.48 and a beta of 0.71. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.89 and a quick ratio of 0.59. Entergy has a 12 month low of $48.08 and a 12 month high of $79.04. The firm’s 50-day moving average is $75.25 and its two-hundred day moving average is $65.62.

Institutional Investors Weigh In On Entergy

A number of hedge funds and other institutional investors have recently made changes to their positions in ETR. Legacy Investment Solutions LLC purchased a new stake in Entergy in the 3rd quarter valued at about $27,000. Cetera Trust Company N.A purchased a new position in Entergy in the third quarter valued at about $29,000. Fortitude Family Office LLC raised its position in Entergy by 423.8% during the third quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 178 shares in the last quarter. Coastline Trust Co bought a new stake in Entergy in the third quarter worth approximately $31,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Entergy during the 2nd quarter worth $42,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Insider Buying and Selling at Entergy

In related news, insider Deanna D. Rodriguez sold 6,088 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $73.94, for a total transaction of $450,146.72. Following the sale, the insider now owns 3,952 shares of the company’s stock, valued at $292,210.88. This trade represents a 60.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eliecer Viamontes sold 400 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $73.50, for a total transaction of $29,400.00. Following the completion of the transaction, the insider now owns 8,346 shares in the company, valued at approximately $613,431. This trade represents a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,756 shares of company stock valued at $1,095,637. Corporate insiders own 0.39% of the company’s stock.

Entergy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Wednesday, November 13th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend was Wednesday, November 13th. Entergy’s dividend payout ratio is currently 58.39%.

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.