Zacks Research Has Negative View of Entergy FY2024 Earnings

Entergy Corporation (NYSE:ETR - Free Report) - Equities research analysts at Zacks Research lowered their FY2024 earnings estimates for shares of Entergy in a report issued on Thursday, November 21st. Zacks Research analyst R. Department now anticipates that the utilities provider will earn $7.20 per share for the year, down from their previous estimate of $7.21. The consensus estimate for Entergy's current full-year earnings is $7.22 per share. Zacks Research also issued estimates for Entergy's Q4 2024 earnings at $1.21 EPS, Q1 2025 earnings at $1.29 EPS, Q2 2025 earnings at $1.47 EPS, Q3 2025 earnings at $3.10 EPS, FY2025 earnings at $7.72 EPS, Q1 2026 earnings at $1.63 EPS and Q3 2026 earnings at $2.99 EPS.

A number of other brokerages have also weighed in on ETR. Royal Bank of Canada lifted their target price on Entergy from $137.00 to $140.00 and gave the company an "outperform" rating in a research report on Monday, October 14th. Morgan Stanley raised shares of Entergy from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $116.00 to $150.00 in a research note on Monday, November 4th. Scotiabank raised their target price on shares of Entergy from $119.00 to $144.00 and gave the company a "sector perform" rating in a research report on Friday, November 1st. Guggenheim boosted their price target on shares of Entergy from $145.00 to $165.00 and gave the company a "buy" rating in a report on Friday, November 1st. Finally, Barclays lifted their price objective on shares of Entergy from $137.00 to $152.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Entergy presently has an average rating of "Moderate Buy" and a consensus price target of $150.42.

Entergy Trading Up 1.0 %

Shares of ETR traded up $1.48 during mid-day trading on Monday, reaching $152.54. 2,659,454 shares of the company's stock traded hands, compared to its average volume of 1,620,061. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.89 and a quick ratio of 0.59. The stock's 50-day moving average is $137.74 and its two-hundred day moving average is $121.65. Entergy has a 12 month low of $96.15 and a 12 month high of $156.85. The stock has a market cap of $32.71 billion, a P/E ratio of 18.40, a P/E/G ratio of 2.52 and a beta of 0.71.

Shares of Entergy are set to split before the market opens on Friday, December 13th. The 2-1 split was announced on Thursday, October 31st. The newly issued shares will be payable to shareholders after the closing bell on Thursday, December 12th.

Entergy (NYSE:ETR - Get Free Report) last posted its earnings results on Thursday, October 31st. The utilities provider reported $2.99 earnings per share for the quarter, beating analysts' consensus estimates of $2.91 by $0.08. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.46 billion. Entergy had a net margin of 14.83% and a return on equity of 9.53%. During the same period last year, the firm posted $3.27 earnings per share.

Entergy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 13th will be paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend is Wednesday, November 13th. This is an increase from Entergy's previous quarterly dividend of $1.13. Entergy's payout ratio is presently 58.47%.

Insider Activity

In other news, CEO Andrew S. Marsh sold 600 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $120.03, for a total value of $72,018.00. Following the sale, the chief executive officer now owns 150,731 shares in the company, valued at $18,092,241.93. This represents a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Peter S. Norgeot, Jr. sold 7,922 shares of the business's 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 transaction, the chief operating officer now owns 34,993 shares of the company's stock, valued at $4,549,090. This represents a 18.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,472 shares of company stock valued at $5,076,328. Company insiders own 0.54% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Ameriprise Financial Inc. raised its position in shares of Entergy by 47.1% in the second quarter. Ameriprise Financial Inc. now owns 6,479,044 shares of the utilities provider's stock worth $693,260,000 after acquiring an additional 2,075,776 shares during the period. Millennium Management LLC raised its holdings in Entergy by 185.5% in the 2nd quarter. Millennium Management LLC now owns 1,876,672 shares of the utilities provider's stock worth $200,804,000 after purchasing an additional 1,219,419 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Entergy by 12.4% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,926,492 shares of the utilities provider's stock worth $741,135,000 after purchasing an additional 763,834 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in Entergy by 89.2% in the second quarter. Panagora Asset Management Inc. now owns 1,073,603 shares of the utilities provider's stock valued at $114,876,000 after purchasing an additional 506,239 shares during the period. Finally, International Assets Investment Management LLC increased its position in shares of Entergy by 16,409.2% in the third quarter. International Assets Investment Management LLC now owns 466,716 shares of the utilities provider's stock valued at $61,424,000 after buying an additional 463,889 shares in the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

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.