FY2024 EPS Estimates for Entergy Boosted by Seaport Res Ptn

Entergy Corporation (NYSE:ETR) – Stock analysts at Seaport Res Ptn lifted their FY2024 earnings per share (EPS) estimates for shares of Entergy in a research note issued on Monday, January 6th. Seaport Res Ptn analyst A. Storozynski now expects that the utilities provider will post earnings per share of $3.62 for the year, up from their previous forecast of $3.62. The consensus estimate for Entergy’s current full-year earnings is $3.61 per share. Seaport Res Ptn also issued estimates for Entergy’s FY2025 earnings at $3.93 EPS, FY2026 earnings at $4.35 EPS and FY2027 earnings at $4.76 EPS.

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

Several other equities research analysts also recently issued reports on the stock. Scotiabank raised their target price on shares of Entergy from $72.00 to $82.50 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. BMO Capital Markets reduced their price target on Entergy from $83.00 to $79.50 and set an “outperform” rating for the company in a research note on Monday, November 18th. UBS Group increased their price objective on Entergy from $72.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Mizuho boosted their target price on shares of Entergy from $69.00 to $82.50 and gave the company an “outperform” rating in a research report on Monday, November 4th. Finally, Guggenheim raised their price target on shares of Entergy from $72.50 to $82.50 and gave the stock a “buy” rating in a research report on Friday, November 1st. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $77.40.

Entergy Trading Down 1.9 %

NYSE ETR opened at $75.21 on Tuesday. The company has a market cap of $32.25 billion, a PE ratio of 18.32, a PEG ratio of 2.48 and a beta of 0.71. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 1.77. The stock has a 50 day moving average of $74.89 and a 200-day moving average of $65.38. Entergy has a 12 month low of $48.08 and a 12 month high of $79.04.

Entergy Cuts Dividend

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

Insider Activity

In related news, insider Eliecer Viamontes sold 400 shares of Entergy stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $73.50, for a total transaction of $29,400.00. Following the sale, the insider now directly owns 8,346 shares of the company’s stock, valued at approximately $613,431. The trade was a 4.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Deanna D. Rodriguez sold 6,088 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $73.94, for a total transaction of $450,146.72. Following the completion of the transaction, the insider now directly owns 3,952 shares of the company’s stock, valued at approximately $292,210.88. The trade was a 60.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,756 shares of company stock worth $1,095,637. Insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Entergy

A number of hedge funds and other institutional investors have recently bought and sold shares of ETR. Canandaigua National Bank & Trust Co. grew its holdings in shares of Entergy by 98.7% during the fourth quarter. Canandaigua National Bank & Trust Co. now owns 8,076 shares of the utilities provider’s stock worth $612,000 after purchasing an additional 4,011 shares during the last quarter. Oliver Luxxe Assets LLC boosted its position in Entergy by 102.6% during the 4th quarter. Oliver Luxxe Assets LLC now owns 61,976 shares of the utilities provider’s stock worth $4,699,000 after buying an additional 31,390 shares during the period. CWA Asset Management Group LLC boosted its position in Entergy by 21.3% during the 4th quarter. CWA Asset Management Group LLC now owns 18,713 shares of the utilities provider’s stock worth $1,419,000 after buying an additional 3,291 shares during the period. Nordea Investment Management AB grew its holdings in Entergy by 109.2% during the 4th quarter. Nordea Investment Management AB now owns 612,697 shares of the utilities provider’s stock worth $46,412,000 after acquiring an additional 319,754 shares during the last quarter. Finally, Everence Capital Management Inc. acquired a new position in Entergy in the 4th quarter valued at approximately $610,000. Institutional investors own 88.07% 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.