Entergy (NYSE:ETR) Updates FY 2024 Earnings Guidance

Entergy (NYSE:ETR - Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 7.150-7.350 for the period, compared to the consensus EPS estimate of 7.220. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Royal Bank of Canada lifted their price target on Entergy from $137.00 to $140.00 and gave the company an "outperform" rating in a report on Monday, October 14th. Scotiabank lifted their price target on Entergy from $115.00 to $119.00 and gave the company a "sector perform" rating in a report on Tuesday, August 20th. Morgan Stanley lifted their price target on Entergy from $109.00 to $115.00 and gave the company an "underweight" rating in a report on Wednesday, September 25th. UBS Group lifted their price target on Entergy from $143.00 to $144.00 and gave the company a "buy" rating in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. lifted their price target on Entergy from $131.00 to $141.00 and gave the company an "overweight" rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $131.19.

Entergy Stock Up 15.3 %

Entergy stock traded up $20.54 during midday trading on Thursday, hitting $154.94. 3,432,741 shares of the company were exchanged, compared to its average volume of 1,574,119. The company's fifty day moving average price is $128.48 and its 200-day moving average price is $116.55. The company has a market cap of $33.13 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 2.56 and a beta of 0.74. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.62. Entergy has a fifty-two week low of $94.63 and a fifty-two week high of $156.85.

Entergy (NYSE:ETR - Get Free Report) last announced its earnings results on Thursday, August 1st. The utilities provider reported $1.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.76 by $0.16. Entergy had a return on equity of 10.10% and a net margin of 14.75%. The company had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same period in the prior year, the company posted $1.84 EPS. On average, research analysts predict that Entergy will post 7.21 EPS for the current fiscal year.

Entergy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 13th will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.10%. This is a positive change from Entergy's previous quarterly dividend of $1.13. The ex-dividend date of this dividend is Wednesday, November 13th. Entergy's dividend payout ratio is presently 54.07%.

Insider Buying and Selling at Entergy

In related news, COO Peter S. Norgeot, Jr. sold 11,472 shares of the company's stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $115.16, for a total transaction of $1,321,115.52. Following the sale, the chief operating officer now directly owns 37,888 shares of the company's stock, valued at approximately $4,363,182.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, COO Peter S. Norgeot, Jr. sold 11,472 shares of the business's stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $115.16, for a total transaction of $1,321,115.52. Following the completion of the transaction, the chief operating officer now owns 37,888 shares in the company, valued at $4,363,182.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Peter S. Norgeot, Jr. sold 3,250 shares of the company's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $122.56, for a total value of $398,320.00. Following the transaction, the chief operating officer now owns 34,993 shares of the company's stock, valued at approximately $4,288,742.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,810 shares of company stock valued at $6,140,626 in the last three months. Corporate insiders own 0.54% of the company's stock.

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.