Entergy (NYSE:ETR) Issues FY 2024 Earnings Guidance

Entergy (NYSE:ETR) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 3.575-3.675 for the period, compared to the consensus earnings per share estimate of 3.630. The company issued revenue guidance of -.

Entergy Stock Performance

ETR opened at $75.13 on Friday. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.89 and a quick ratio of 0.59. The company has a market capitalization of $32.22 billion, a price-to-earnings ratio of 18.30, a P/E/G ratio of 2.48 and a beta of 0.71. The business’s 50-day moving average price is $73.06 and its two-hundred day moving average price is $63.55. Entergy has a 1 year low of $48.08 and a 1 year high of $79.04.

Entergy (NYSE:ETR) last released its earnings results on Thursday, October 31st. The utilities provider reported $1.50 EPS for the quarter, beating the consensus estimate of $1.46 by $0.04. The firm had revenue of $3.39 billion for 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 quarter in the previous year, the business posted $1.64 EPS. Equities analysts expect that Entergy will post 3.61 EPS for the current fiscal year.

Entergy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Wednesday, November 13th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date was Wednesday, November 13th. Entergy’s dividend payout ratio (DPR) is currently 58.39%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ETR shares. BMO Capital Markets reduced their price objective on shares of Entergy from $83.00 to $79.50 and set an “outperform” rating for the company in a research note on Monday, November 18th. Bank of America cut Entergy from a “buy” rating to a “neutral” rating and increased their price target for the company from $69.00 to $77.00 in a research report on Monday, November 4th. Morgan Stanley upgraded Entergy from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $58.00 to $75.00 in a research note on Monday, November 4th. Barclays upped their price objective on Entergy from $68.50 to $76.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, Argus raised shares of Entergy to a “strong-buy” rating in a research note on Wednesday, August 28th. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Entergy has an average rating of “Moderate Buy” and a consensus target price of $77.40.

Insider Buying and Selling

In other news, insider Eliecer Viamontes sold 400 shares of Entergy stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $73.50, for a total transaction of $29,400.00. Following the completion of the sale, the insider now owns 8,346 shares of the company’s stock, valued at approximately $613,431. This trade represents a 4.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Peter S. Norgeot, Jr. sold 15,844 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $65.00, for a total transaction of $1,029,860.00. Following the completion of the transaction, the chief operating officer now owns 69,986 shares in the company, valued at $4,549,090. This trade represents a 18.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,600 shares of company stock valued at $2,125,497. Company 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.