Entergy (NYSE:ETR) Updates FY 2024 Earnings Guidance

Entergy (NYSE:ETR) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 3.575-3.675 for the period, compared to the consensus EPS estimate of 3.630. The company issued revenue guidance of -.

Entergy Price Performance

ETR opened at $75.13 on Friday. The stock’s 50-day moving average price is $73.06 and its 200 day moving average price is $63.60. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 1.77. Entergy has a 12-month low of $48.08 and a 12-month high of $79.04. The firm has a market cap of $32.22 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 2.48 and a beta of 0.71.

Entergy (NYSE:ETR) last released its earnings results on Thursday, October 31st. The utilities provider reported $1.50 EPS for the quarter, topping the consensus estimate of $1.46 by $0.04. The firm 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 previous year, the firm posted $1.64 EPS. As a group, sell-side analysts expect that Entergy will post 3.61 earnings per share for the current year.

Entergy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Wednesday, November 13th were paid a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $2.40 dividend on an annualized basis and a yield of 3.19%. Entergy’s dividend payout ratio is currently 58.39%.

Analyst Ratings Changes

Several research firms have recently issued reports on ETR. Scotiabank lifted their price objective on shares of Entergy from $72.00 to $82.50 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. KeyCorp downgraded Entergy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Guggenheim increased their price objective on Entergy from $72.50 to $82.50 and gave the company a “buy” rating in a report on Friday, November 1st. BMO Capital Markets lowered their price target on Entergy from $83.00 to $79.50 and set an “outperform” rating for the company in a report on Monday, November 18th. Finally, Bank of America lowered shares of Entergy from a “buy” rating to a “neutral” rating and increased their price target for the company from $69.00 to $77.00 in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Entergy currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.40.

Insider Activity at Entergy

In other news, insider Eliecer Viamontes sold 400 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $73.50, for a total transaction of $29,400.00. Following the completion of the sale, the insider now owns 8,346 shares in the company, valued at $613,431. This represents a 4.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Peter S. Norgeot, Jr. sold 15,844 shares of Entergy stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $65.00, for a total transaction of $1,029,860.00. Following the completion of the transaction, the chief operating officer now owns 69,986 shares in the company, valued at approximately $4,549,090. This trade represents a 18.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,600 shares of company stock worth $2,125,497 in the last 90 days. 0.39% of the stock is owned by insiders.

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.