Entergy (NYSE:ETR) Issues Earnings Results, Beats Expectations By $0.08 EPS

Entergy (NYSE:ETR - Get Free Report) announced its quarterly earnings data on Thursday. The utilities provider reported $2.99 EPS for the quarter, topping analysts' consensus estimates of $2.91 by $0.08, Briefing.com reports. Entergy had a return on equity of 9.53% and a net margin of 14.83%. The business had revenue of $3.39 billion during the quarter, compared to analysts' expectations of $3.46 billion. During the same period in the previous year, the firm earned $3.27 earnings per share. Entergy updated its FY 2024 guidance to 7.150-7.350 EPS.

Entergy Stock Down 6.5 %

ETR traded down $9.99 on Friday, hitting $144.79. 3,871,509 shares of the company were exchanged, compared to its average volume of 1,684,980. Entergy has a 12 month low of $94.85 and a 12 month high of $156.85. The company has a market cap of $30.96 billion, a PE ratio of 17.64, a PEG ratio of 2.93 and a beta of 0.71. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.62 and a current ratio of 0.89. The stock's fifty day moving average is $129.72 and its 200-day moving average is $117.23.

Entergy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 13th will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Wednesday, November 13th. This is a positive change from Entergy's previous quarterly dividend of $1.13. Entergy's dividend payout ratio is presently 55.05%.

Insider Buying and Selling

In related news, COO Peter S. Norgeot, Jr. sold 7,922 shares of the company's stock in a transaction dated Monday, September 23rd. The stock was 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 owns 34,993 shares in the company, valued at approximately $4,549,090. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Entergy news, COO Peter S. Norgeot, Jr. sold 7,922 shares of the company's stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $130.00, for a total value of $1,029,860.00. Following the sale, the chief operating officer now owns 34,993 shares in the company, valued at $4,549,090. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew S. Marsh sold 3,200 shares of the company's stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $121.46, for a total value of $388,672.00. Following the completion of the sale, the chief executive officer now owns 150,731 shares in the company, valued at $18,307,787.26. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,810 shares of company stock worth $6,140,626. Corporate insiders own 0.39% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on ETR. Barclays decreased their target price on Entergy from $138.00 to $137.00 and set an "overweight" rating for the company in a research note on Monday, October 7th. BMO Capital Markets boosted their target price on Entergy from $146.00 to $166.00 and gave the company an "outperform" rating in a research note on Friday. Wells Fargo & Company boosted their target price on Entergy from $137.00 to $170.00 and gave the company an "overweight" rating in a research note on Friday. KeyCorp boosted their target price on Entergy from $143.00 to $162.00 and gave the company an "overweight" rating in a research note on Friday. Finally, Argus raised Entergy to a "strong-buy" rating in a research report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $141.96.

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.