Seaport Res Ptn Issues Positive Outlook for Entergy Earnings

Entergy Corporation (NYSE:ETR) – Equities researchers at Seaport Res Ptn raised their FY2024 earnings estimates for shares of Entergy in a research report issued to clients and investors on Monday, January 6th. Seaport Res Ptn analyst A. Storozynski now anticipates that the utilities provider will earn $3.62 per share 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.

Several other research analysts have also recently commented on ETR. Bank of America cut Entergy from a “buy” rating to a “neutral” rating and raised their target price for the stock from $69.00 to $77.00 in a research report on Monday, November 4th. Morgan Stanley raised shares of Entergy from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $58.00 to $75.00 in a research note on Monday, November 4th. Royal Bank of Canada lifted their price objective on Entergy from $68.50 to $70.00 and gave the company an “outperform” rating in a report on Monday, October 14th. BMO Capital Markets lowered their price objective on Entergy from $83.00 to $79.50 and set an “outperform” rating on the stock in a research note on Monday, November 18th. Finally, Barclays raised their target price on Entergy from $68.50 to $76.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Entergy currently has an average rating of “Moderate Buy” and a consensus price target of $77.40.

Entergy Price Performance

Shares of ETR stock opened at $75.21 on Tuesday. Entergy has a 12 month low of $48.08 and a 12 month high of $79.04. The company has a market capitalization of $32.25 billion, a P/E ratio of 18.32, a P/E/G ratio of 2.48 and a beta of 0.71. The stock has a 50 day moving average of $74.89 and a two-hundred day moving average of $65.38. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 1.77.

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

Entergy Cuts Dividend

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

Insiders Place Their Bets

In other news, insider Eliecer Viamontes sold 400 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $73.50, for a total transaction of $29,400.00. Following the transaction, the insider now owns 8,346 shares of the company’s stock, valued at $613,431. This represents a 4.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Haley Fisackerly sold 8,268 shares of the firm’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 transaction, the insider now owns 4,032 shares in the company, valued at approximately $300,444.48. This represents a 67.22 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,756 shares of company stock valued at $1,095,637. Insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On Entergy

Several large investors have recently bought and sold shares of the business. Legacy Investment Solutions LLC bought a new stake in shares of Entergy during the 3rd quarter valued at $27,000. Cetera Trust Company N.A bought a new stake in Entergy in the third quarter valued at about $29,000. Fortitude Family Office LLC lifted its stake in Entergy by 423.8% in the third quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock valued at $29,000 after buying an additional 178 shares during the period. Coastline Trust Co bought a new position in Entergy during the third quarter worth about $31,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Entergy during the 2nd quarter worth about $42,000. 88.07% of the stock is currently owned by institutional investors and hedge funds.

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.