Entergy (NYSE:ETR) Issues 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 for the quarter, beating analysts’ consensus estimates of $2.91 by $0.08, Briefing.com reports. Entergy had a net margin of 14.75% and a return on equity of 10.10%. The firm had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.46 billion. During the same period in the previous year, the company earned $3.27 earnings per share. Entergy updated its FY 2024 guidance to 7.150-7.350 EPS.

Entergy Price Performance

NYSE ETR traded down $9.99 during trading hours on Friday, reaching $144.79. 3,829,226 shares of the stock traded hands, compared to its average volume of 1,598,875. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.62. The company has a market cap of $30.96 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 2.54 and a beta of 0.74. The stock has a 50 day simple moving average of $129.20 and a two-hundred day simple moving average of $116.82. Entergy has a 1 year low of $94.85 and a 1 year high of $156.85.

Entergy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 13th will be given a dividend of $1.20 per share. The ex-dividend date is Wednesday, November 13th. This represents a $4.80 annualized dividend and a dividend yield of 3.32%. This is a boost from Entergy’s previous quarterly dividend of $1.13. Entergy’s dividend payout ratio (DPR) is 58.47%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ETR shares. Argus raised Entergy to a “strong-buy” rating in a report on Wednesday, August 28th. Morgan Stanley boosted their price objective on Entergy from $109.00 to $115.00 and gave the company an “underweight” rating in a research note on Wednesday, September 25th. UBS Group increased their target price on shares of Entergy from $143.00 to $144.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. BMO Capital Markets boosted their price target on shares of Entergy from $146.00 to $166.00 and gave the company an “outperform” rating in a research report on Friday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Entergy from $131.00 to $141.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.96.

Insider Buying and Selling

In other Entergy news, COO Peter S. Norgeot, Jr. sold 7,922 shares of Entergy stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $130.00, for a total transaction of $1,029,860.00. Following the transaction, the chief operating officer now directly owns 34,993 shares of the company’s stock, valued at approximately $4,549,090. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Eliecer Viamontes sold 5,166 shares of Entergy stock in a transaction on Friday, August 30th. The shares were sold at an average price of $120.00, for a total value of $619,920.00. Following the transaction, the insider now directly owns 5,117 shares of the company’s stock, valued at $614,040. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Peter S. Norgeot, Jr. sold 7,922 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $130.00, for a total transaction of $1,029,860.00. Following the sale, the chief operating officer now directly owns 34,993 shares of the company’s stock, valued at $4,549,090. 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 worth $6,140,626 in the last quarter. 0.39% of the stock is owned by insiders.

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.