Entergy (NYSE:ETR) Issues Quarterly Earnings Results, Misses Estimates By $0.36 EPS

Entergy (NYSE:ETR) issued its quarterly earnings results on Wednesday. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.36), RTT News reports. The company had revenue of $31.17 billion for the quarter, compared to analyst estimates of $3.16 billion. Entergy had a return on equity of 10.20% and a net margin of 17.75%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter last year, the company 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 1.0 %

NYSE ETR traded down $1.03 during trading hours on Friday, reaching $106.50. 2,144,889 shares of the company’s stock were exchanged, compared to its average volume of 1,560,942. The company’s 50-day moving average is $103.41 and its two-hundred day moving average is $100.67. Entergy has a one year low of $87.10 and a one year high of $108.81. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.32 and a current ratio of 0.69. The company has a market capitalization of $22.71 billion, a price-to-earnings ratio of 10.68, a price-to-earnings-growth ratio of 2.13 and a beta of 0.71.

Entergy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Thursday, May 2nd will be paid a dividend of $1.13 per share. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $4.52 dividend on an annualized basis and a yield of 4.24%. Entergy’s payout ratio is 45.34%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ETR. KeyCorp upped their price target on shares of Entergy from $108.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Royal Bank of Canada restated an “outperform” rating and set a $117.00 target price on shares of Entergy in a research report on Monday, February 26th. Barclays cut their target price on shares of Entergy from $108.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Monday, April 15th. BMO Capital Markets upped their target price on shares of Entergy from $110.00 to $113.00 and gave the company an “outperform” rating in a research report on Monday, February 26th. Finally, Scotiabank cut their target price on shares of Entergy from $111.00 to $104.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.45.

Insider Buying and Selling

In related news, EVP Marcus V. Brown sold 8,500 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $102.84, for a total transaction of $874,140.00. Following the completion of the sale, the executive vice president now directly owns 9,911 shares of the company’s stock, valued at approximately $1,019,247.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Deanna D. Rodriguez sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $101.23, for a total transaction of $151,845.00. Following the completion of the transaction, the insider now directly owns 3,442 shares of the company’s stock, valued at approximately $348,433.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Marcus V. Brown sold 8,500 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $102.84, for a total transaction of $874,140.00. Following the transaction, the executive vice president now directly owns 9,911 shares of the company’s stock, valued at $1,019,247.24. The disclosure for this sale can be found here. In the last three months, insiders sold 12,000 shares of company stock valued at $1,226,685. 0.39% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Entergy

Large investors have recently made changes to their positions in the stock. Tidemark LLC acquired a new stake in shares of Entergy in the 4th quarter valued at approximately $25,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Entergy by 157.1% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 270 shares of the utilities provider’s stock valued at $25,000 after buying an additional 165 shares during the last quarter. Fortis Group Advisors LLC acquired a new stake in shares of Entergy in the 3rd quarter valued at approximately $32,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Entergy in the 3rd quarter valued at approximately $32,000. Finally, OLD Point Trust & Financial Services N A acquired a new stake in Entergy during the 4th quarter valued at $35,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

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.