Entergy (NYSE:ETR) Issues FY 2024 Earnings Guidance

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

Entergy Stock Up 0.9 %

ETR stock opened at $75.13 on Friday. Entergy has a one year low of $48.08 and a one year high of $79.04. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.59 and a current ratio of 0.89. The firm’s fifty day moving average is $73.06 and its 200 day moving average is $63.60. The firm has a market cap of $32.22 billion, a PE ratio of 18.30, a P/E/G ratio of 2.48 and a beta of 0.71.

Entergy (NYSE:ETR) last posted its earnings results on Thursday, October 31st. The utilities provider reported $1.50 EPS for the quarter, beating analysts’ consensus estimates 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 period last year, the firm earned $1.64 EPS. On average, research analysts forecast that Entergy will post 3.61 EPS for the current year.

Entergy Cuts Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Argus upgraded shares of Entergy to a “strong-buy” rating in a research report on Wednesday, August 28th. StockNews.com downgraded shares of Entergy from a “hold” rating to a “sell” rating in a research report on Saturday. Guggenheim lifted their price objective on Entergy from $72.50 to $82.50 and gave the stock a “buy” rating in a report on Friday, November 1st. Bank of America cut Entergy from a “buy” rating to a “neutral” rating and increased their target price for the company from $69.00 to $77.00 in a report on Monday, November 4th. Finally, Wells Fargo & Company lifted their price target on Entergy from $68.50 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $77.40.

Insider Activity at Entergy

In related news, insider Eliecer Viamontes sold 400 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $73.50, for a total value of $29,400.00. Following the completion of the transaction, the insider now directly owns 8,346 shares in the company, valued at approximately $613,431. This represents a 4.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Peter S. Norgeot, Jr. sold 15,844 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $65.00, for a total value of $1,029,860.00. Following the sale, the chief operating officer now directly owns 69,986 shares of the company’s stock, valued at approximately $4,549,090. This trade represents a 18.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,600 shares of company stock valued at $2,125,497. 0.39% of the stock is owned by company insiders.

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.