Entergy (NYSE:ETR) Releases Quarterly Earnings Results, Beats Expectations By $0.16 EPS

Entergy (NYSE:ETR) announced its quarterly earnings results on Thursday. The utilities provider reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.16, Briefing.com reports. Entergy had a return on equity of 10.10% and a net margin of 14.75%. The firm had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same period in the prior year, the business posted $1.84 earnings per share. Entergy updated its FY 2024 guidance to 7.050-7.350 EPS and its FY24 guidance to $7.05 to $7.35 EPS.

Entergy Trading Down 0.0 %

ETR stock traded down $0.02 during midday trading on Friday, hitting $120.80. The company had a trading volume of 2,484,812 shares, compared to its average volume of 1,386,426. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 1.81. Entergy has a 52 week low of $87.10 and a 52 week high of $123.61. The stock’s 50 day moving average price is $109.08 and its 200 day moving average price is $105.69. The stock has a market cap of $25.80 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 2.29 and a beta of 0.71.

Entergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 13th will be given a $1.13 dividend. The ex-dividend date is Tuesday, August 13th. This represents a $4.52 annualized dividend and a yield of 3.74%. Entergy’s payout ratio is currently 45.34%.

Insider Activity at Entergy

In related news, CAO Reginald T. Jackson sold 9,229 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $108.71, for a total transaction of $1,003,284.59. Following the completion of the transaction, the chief accounting officer now owns 2,166 shares in the company, valued at $235,465.86. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Entergy news, CAO Reginald T. Jackson sold 9,229 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $108.71, for a total value of $1,003,284.59. Following the completion of the transaction, the chief accounting officer now owns 2,166 shares in the company, valued at $235,465.86. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Haley Fisackerly sold 1,500 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $110.23, for a total value of $165,345.00. Following the completion of the transaction, the insider now owns 2,479 shares of the company’s stock, valued at approximately $273,260.17. The disclosure for this sale can be found here. 0.39% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ETR shares. BMO Capital Markets decreased their price target on Entergy from $120.00 to $117.00 and set an “outperform” rating on the stock in a research report on Monday, July 8th. Barclays decreased their price target on Entergy from $116.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Monday, July 22nd. Scotiabank boosted their price objective on Entergy from $104.00 to $115.00 and gave the stock a “sector perform” rating in a report on Friday. Guggenheim boosted their price objective on Entergy from $118.00 to $128.00 and gave the stock a “buy” rating in a report on Friday. Finally, LADENBURG THALM/SH SH reissued a “neutral” rating and set a $109.50 price objective (down previously from $117.00) on shares of Entergy in a report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Entergy currently has a consensus rating of “Moderate Buy” and an average price target of $117.12.

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.