Entergy (NYSE:ETR) Announces Quarterly Earnings Results

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

Entergy Price Performance

Shares of ETR stock traded down $9.99 during mid-day trading on Friday, reaching $144.79. The stock had a trading volume of 3,871,509 shares, compared to its average volume of 1,598,875. The company has a market cap of $30.96 billion, a P/E ratio of 17.64, a price-to-earnings-growth ratio of 2.54 and a beta of 0.74. The company has a current ratio of 0.94, a quick ratio of 0.62 and a debt-to-equity ratio of 1.81. Entergy has a 12-month low of $94.85 and a 12-month high of $156.85. The business has a 50-day simple moving average of $129.72 and a 200 day simple moving average of $117.12.

Entergy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 13th will be issued a $1.20 dividend. This is a positive change from Entergy’s previous quarterly dividend of $1.13. The ex-dividend date is Wednesday, November 13th. This represents a $4.80 annualized dividend and a yield of 3.32%. Entergy’s dividend payout ratio is 58.47%.

Insider Buying and Selling

In other Entergy news, CEO Andrew S. Marsh sold 19,200 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $120.35, for a total transaction of $2,310,720.00. Following the completion of the transaction, the chief executive officer now directly owns 150,731 shares in the company, valued at approximately $18,140,475.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Entergy news, CEO Andrew S. Marsh sold 3,200 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $121.46, for a total transaction of $388,672.00. Following the completion of the transaction, the chief executive officer now owns 150,731 shares of the company’s stock, valued at approximately $18,307,787.26. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Andrew S. Marsh sold 19,200 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $120.35, for a total value of $2,310,720.00. Following the completion of the sale, the chief executive officer now owns 150,731 shares in the company, valued at $18,140,475.85. 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 worth $6,140,626 in the last three months. Corporate insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on ETR. Morgan Stanley upped their price objective on Entergy from $109.00 to $115.00 and gave the company an “underweight” rating in a research note on Wednesday, September 25th. Bank of America upped their price target on Entergy from $135.00 to $138.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Royal Bank of Canada lifted their price objective on shares of Entergy from $137.00 to $140.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. KeyCorp upped their price objective on shares of Entergy from $143.00 to $162.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, UBS Group lifted their target price on shares of Entergy from $143.00 to $144.00 and gave the company a “buy” rating in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $141.96.

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.