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FY2024 Earnings Estimate for Entergy Issued By Scotiabank

Entergy logo with Utilities background

Entergy Corporation (NYSE:ETR - Free Report) - Equities researchers at Scotiabank lifted their FY2024 earnings per share (EPS) estimates for Entergy in a note issued to investors on Wednesday, January 8th. Scotiabank analyst A. Weisel now forecasts that the utilities provider will earn $3.63 per share for the year, up from their prior estimate of $3.58. Scotiabank has a "Sector Perform" rating and a $82.00 price target on the stock. The consensus estimate for Entergy's current full-year earnings is $3.61 per share. Scotiabank also issued estimates for Entergy's FY2025 earnings at $3.87 EPS.

ETR has been the subject of a number of other research reports. Royal Bank of Canada increased their price objective on shares of Entergy from $68.50 to $70.00 and gave the stock an "outperform" rating in a research report on Monday, October 14th. UBS Group lifted their price objective on Entergy from $72.00 to $90.00 and gave the company a "buy" rating in a research note on Tuesday, December 3rd. BMO Capital Markets cut their price objective on Entergy from $83.00 to $79.50 and set an "outperform" rating on the stock in a report on Monday, November 18th. Wells Fargo & Company raised their target price on Entergy from $68.50 to $85.00 and gave the company an "overweight" rating in a report on Friday, November 1st. Finally, Mizuho boosted their price target on shares of Entergy from $69.00 to $82.50 and gave the stock an "outperform" rating in a research note on Monday, November 4th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $77.37.

View Our Latest Analysis on ETR

Entergy Trading Up 1.0 %

Shares of ETR traded up $0.73 during trading on Thursday, reaching $76.69. 3,373,319 shares of the company traded hands, compared to its average volume of 2,890,974. The stock has a 50-day simple moving average of $75.24 and a 200-day simple moving average of $65.69. The stock has a market cap of $32.89 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 2.48 and a beta of 0.71. Entergy has a twelve month low of $48.08 and a twelve month high of $79.04. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 1.77.

Entergy (NYSE:ETR - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $1.50 earnings per share for the quarter, topping analysts' consensus estimates of $1.46 by $0.04. The business had revenue of $3.39 billion during the quarter, compared to analysts' expectations of $3.46 billion. Entergy had a return on equity of 9.53% and a net margin of 14.83%. During the same period in the prior year, the business posted $1.64 EPS.

Entergy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Wednesday, November 13th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $2.40 annualized dividend and a dividend yield of 3.13%. Entergy's dividend payout ratio (DPR) is currently 58.39%.

Insider Buying and Selling

In other Entergy news, insider Eliecer Viamontes sold 400 shares of the firm's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $73.50, for a total transaction of $29,400.00. Following the transaction, the insider now owns 8,346 shares of the company's stock, valued at approximately $613,431. This trade represents a 4.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Deanna D. Rodriguez sold 6,088 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $73.94, for a total value of $450,146.72. Following the transaction, the insider now owns 3,952 shares in the company, valued at $292,210.88. This represents a 60.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,756 shares of company stock worth $1,095,637. Corporate insiders own 0.39% of the company's stock.

Hedge Funds Weigh In On Entergy

Institutional investors have recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC acquired a new stake in shares of Entergy in the 3rd quarter worth $27,000. Cetera Trust Company N.A purchased a new stake in Entergy in the 3rd quarter valued at approximately $29,000. Fortitude Family Office LLC increased its position in Entergy by 423.8% during the 3rd quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider's stock worth $29,000 after purchasing an additional 178 shares during the period. Coastline Trust Co acquired a new position in Entergy during the 3rd quarter worth approximately $31,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Entergy during the 2nd quarter worth approximately $42,000. Institutional investors and hedge funds own 88.07% of the company's stock.

About Entergy

(Get Free Report)

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.

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Earnings History and Estimates for Entergy (NYSE:ETR)

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