Entergy (NYSE:ETR) Announces Quarterly Earnings Results

Entergy (NYSE:ETR) issued its quarterly earnings data on Wednesday. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.27), RTT News reports. The firm had revenue of $31.17 billion during the quarter, compared to analyst estimates of $3.16 billion. Entergy had a net margin of 19.41% and a return on equity of 10.54%. The firm’s revenue was down .5% compared to the same quarter last year. During the same period last year, the business earned $1.14 EPS. Entergy updated its FY 2024 guidance to 7.050-7.350 EPS and its FY24 guidance to $7.05-7.35 EPS.

Entergy Stock Down 0.3 %

Shares of NYSE:ETR opened at $107.17 on Wednesday. The company has a current ratio of 0.57, a quick ratio of 0.32 and a debt-to-equity ratio of 1.57. The stock has a market capitalization of $22.85 billion, a P/E ratio of 9.66, a price-to-earnings-growth ratio of 2.12 and a beta of 0.71. Entergy has a 12-month low of $87.10 and a 12-month high of $109.53. The stock’s 50-day moving average price is $102.96 and its 200-day moving average price is $100.48.

Entergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Thursday, May 2nd will be given a $1.13 dividend. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $4.52 dividend on an annualized basis and a dividend yield of 4.22%. Entergy’s dividend payout ratio (DPR) is presently 40.76%.

Insider Buying and Selling

In related news, EVP Marcus V. Brown sold 8,500 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $102.84, for a total value of $874,140.00. Following the completion of the transaction, the executive vice president now directly owns 9,911 shares in the company, valued at approximately $1,019,247.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Marcus V. Brown sold 8,500 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $102.84, for a total value of $874,140.00. Following the completion of the transaction, the executive vice president now owns 9,911 shares of the company’s stock, valued at approximately $1,019,247.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Deanna D. Rodriguez sold 1,500 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $101.23, for a total transaction of $151,845.00. Following the sale, the insider now owns 3,442 shares in the company, valued at $348,433.66. The disclosure for this sale can be found here. Insiders have sold 12,000 shares of company stock valued at $1,226,685 over the last ninety days. 0.54% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and set a $117.00 price objective on shares of Entergy in a research note on Monday, February 26th. Barclays decreased their price target on Entergy from $108.00 to $107.00 and set an “equal weight” rating for the company in a research report on Monday, April 15th. KeyCorp raised their price objective on Entergy from $108.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Scotiabank reduced their price target on Entergy from $111.00 to $104.00 and set a “sector perform” rating for the company in a report on Monday. Finally, BMO Capital Markets raised their price objective on Entergy from $110.00 to $113.00 and gave the company an “outperform” rating in a research note on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Entergy has a consensus rating of “Moderate Buy” and an average target price of $109.45.

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.