Entergy (NYSE:ETR) Releases FY 2024 Earnings Guidance

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

Entergy Stock Up 0.9 %

Shares of NYSE ETR opened at $75.13 on Friday. The stock has a market capitalization of $32.22 billion, a P/E ratio of 18.30, a PEG ratio of 2.48 and a beta of 0.71. The stock’s fifty day moving average is $73.06 and its 200 day moving average is $63.55. Entergy has a 52 week low of $48.08 and a 52 week 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.

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 analyst estimates of $3.46 billion. Entergy had a net margin of 14.83% and a return on equity of 9.53%. During the same period last year, the firm earned $1.64 EPS. Sell-side analysts forecast that Entergy will post 3.61 earnings per share for the current fiscal year.

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%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ETR. Wells Fargo & Company upped their price objective on Entergy from $68.50 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Guggenheim increased their target price on shares of Entergy from $72.50 to $82.50 and gave the stock a “buy” rating in a report on Friday, November 1st. Barclays lifted their price target on shares of Entergy from $68.50 to $76.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. UBS Group increased their price objective on shares of Entergy from $72.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Finally, BMO Capital Markets decreased their target price on shares of Entergy from $83.00 to $79.50 and set an “outperform” rating on the stock in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $77.40.

Insiders Place Their Bets

In other news, insider Eliecer Viamontes sold 400 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $73.50, for a total value of $29,400.00. Following the transaction, the insider now directly owns 8,346 shares of the company’s stock, valued at $613,431. The trade was a 4.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Peter S. Norgeot, Jr. sold 15,844 shares of the company’s stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 69,986 shares in the company, valued at $4,549,090. The trade was a 18.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,600 shares of company stock valued at $2,125,497. 0.39% of the stock is currently owned by company insiders.

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.