Entergy (NYSE:ETR) Posts Earnings Results, Beats Expectations By $0.08 EPS

Entergy (NYSE:ETR) released its earnings results on Thursday. The utilities provider reported $2.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.08, Briefing.com reports. Entergy had a return on equity of 9.53% and a net margin of 14.83%. The firm had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same period in the prior year, the firm earned $3.27 EPS. Entergy updated its FY 2024 guidance to 7.150-7.350 EPS.

Entergy Stock Performance

ETR opened at $144.79 on Friday. The firm’s fifty day simple moving average is $129.72 and its two-hundred day simple moving average is $117.23. Entergy has a 52-week low of $94.85 and a 52-week high of $156.85. The company has a market cap of $30.96 billion, a price-to-earnings ratio of 17.64, a PEG ratio of 2.93 and a beta of 0.71. The company has a quick ratio of 0.62, a current ratio of 0.89 and a debt-to-equity ratio of 1.77.

Entergy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 13th will be paid a $1.20 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $4.80 dividend on an annualized basis and a yield of 3.32%. This is a boost from Entergy’s previous quarterly dividend of $1.13. Entergy’s dividend payout ratio (DPR) is currently 55.05%.

Insider Transactions at Entergy

In related news, COO Peter S. Norgeot, Jr. sold 7,922 shares of Entergy stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $130.00, for a total value of $1,029,860.00. Following the sale, the chief operating officer now directly owns 34,993 shares in the company, valued at approximately $4,549,090. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Entergy news, COO Peter S. Norgeot, Jr. sold 7,922 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $130.00, for a total value of $1,029,860.00. Following the transaction, the chief operating officer now owns 34,993 shares in the company, valued at approximately $4,549,090. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Peter S. Norgeot, Jr. sold 3,250 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $122.56, for a total transaction of $398,320.00. Following the sale, the chief operating officer now directly owns 34,993 shares of the company’s stock, valued at $4,288,742.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,810 shares of company stock valued at $6,140,626 over the last 90 days. Corporate insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ETR shares. Barclays reduced their price objective on Entergy from $138.00 to $137.00 and set an “overweight” rating for the company in a research note on Monday, October 7th. Morgan Stanley raised their price target on shares of Entergy from $109.00 to $115.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th. Royal Bank of Canada upped their price objective on shares of Entergy from $137.00 to $140.00 and gave the company an “outperform” rating in a report on Monday, October 14th. StockNews.com cut shares of Entergy from a “hold” rating to a “sell” rating in a report on Friday. Finally, UBS Group increased their price target on Entergy from $143.00 to $144.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.