Scotiabank Has Bullish Estimate for Entergy FY2024 Earnings

Entergy Corporation (NYSE:ETR) – Equities research analysts at Scotiabank boosted their FY2024 earnings per share (EPS) estimates for Entergy in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst A. Weisel now anticipates that the utilities provider will earn $3.63 per share for the year, up from their previous forecast of $3.58. Scotiabank currently has a “Sector Perform” rating and a $82.00 target price 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.

Other analysts have also issued research reports about the stock. BMO Capital Markets reduced their target price 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. Royal Bank of Canada upped their target price on shares of Entergy from $68.50 to $70.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. KeyCorp cut shares of Entergy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Bank of America cut shares of 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. Finally, Wells Fargo & Company upped their price target on shares of Entergy from $68.50 to $85.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently 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 company has a market cap of $32.89 billion, a PE 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 one year low of $48.08 and a one year high of $79.04. The firm has a 50-day moving average of $75.25 and a 200-day moving average of $65.62.

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

Entergy Cuts Dividend

The business 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. This represents a $2.40 annualized dividend and a dividend yield of 3.13%. The ex-dividend date was Wednesday, November 13th. Entergy’s dividend payout ratio is currently 58.39%.

Insider Activity at Entergy

In other Entergy news, insider Haley Fisackerly sold 8,268 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $74.52, for a total value of $616,090.02. Following the completion of the sale, the insider now directly owns 4,032 shares of the company’s stock, valued at $300,444.48. The trade was a 67.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Deanna D. Rodriguez sold 6,088 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $73.94, for a total value of $450,146.72. Following the transaction, the insider now owns 3,952 shares in the company, valued at approximately $292,210.88. This represents a 60.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,756 shares of company stock worth $1,095,637. Company insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Entergy

A number of hedge funds have recently made changes to their positions in the stock. State Street Corp increased its position in shares of Entergy by 1.1% during the third quarter. State Street Corp now owns 11,408,776 shares of the utilities provider’s stock worth $1,501,509,000 after purchasing an additional 128,667 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Entergy by 12.4% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,926,492 shares of the utilities provider’s stock valued at $741,135,000 after buying an additional 763,834 shares during the last quarter. FMR LLC increased its position in shares of Entergy by 5.0% in the 3rd quarter. FMR LLC now owns 6,613,647 shares of the utilities provider’s stock valued at $870,422,000 after acquiring an additional 315,750 shares during the period. Ameriprise Financial Inc. raised its stake in Entergy by 47.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,479,044 shares of the utilities provider’s stock worth $693,260,000 after acquiring an additional 2,075,776 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in Entergy by 53.0% during the 3rd quarter. Franklin Resources Inc. now owns 5,718,859 shares of the utilities provider’s stock valued at $754,318,000 after purchasing an additional 1,981,611 shares during the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

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.