Entergy (NYSE:ETR) Releases Earnings Results

Entergy (NYSE:ETR) released its quarterly earnings results on Wednesday. The utilities provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.36), RTT News reports. Entergy had a return on equity of 10.20% and a net margin of 17.75%. The company had revenue of $31.17 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the company earned $1.14 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. Entergy updated its FY 2024 guidance to 7.050-7.350 EPS and its FY24 guidance to $7.05-7.35 EPS.

Entergy Price Performance

ETR stock traded down $1.03 during trading on Friday, reaching $106.50. 2,144,889 shares of the company were exchanged, compared to its average volume of 1,560,942. The company has a market cap of $22.71 billion, a P/E ratio of 10.68, a PEG ratio of 2.13 and a beta of 0.71. Entergy has a 52-week low of $87.10 and a 52-week high of $108.81. The stock’s 50 day moving average price is $103.41 and its 200 day moving average price is $100.67. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.32 and a current ratio of 0.69.

Entergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Thursday, May 2nd will be given a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a yield of 4.24%. The ex-dividend date is Wednesday, May 1st. Entergy’s payout ratio is currently 45.34%.

Analysts Set New Price Targets

Several research firms have recently weighed in on ETR. Royal Bank of Canada reissued an “outperform” rating and issued a $117.00 price target on shares of Entergy in a research note on Monday, February 26th. BMO Capital Markets increased their price target on shares of Entergy from $110.00 to $113.00 and gave the company an “outperform” rating in a research note on Monday, February 26th. Scotiabank dropped their price target on shares of Entergy from $111.00 to $104.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. KeyCorp increased their price objective on shares of Entergy from $108.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Finally, Barclays reduced their price objective on shares of Entergy from $108.00 to $107.00 and set an “equal weight” rating on the stock in a report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Entergy has a consensus rating of “Moderate Buy” and an average price target of $109.45.

Insider Buying and Selling

In related news, EVP Marcus V. Brown sold 8,500 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $102.84, for a total transaction of $874,140.00. Following the sale, the executive vice president now owns 9,911 shares of the company’s stock, valued at $1,019,247.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Entergy news, insider Deanna D. Rodriguez sold 1,500 shares of Entergy stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $101.23, for a total transaction of $151,845.00. Following the completion of the transaction, the insider now owns 3,442 shares in the company, valued at $348,433.66. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Marcus V. Brown sold 8,500 shares of Entergy stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $102.84, for a total transaction of $874,140.00. Following the transaction, the executive vice president now owns 9,911 shares of the company’s stock, valued at approximately $1,019,247.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,000 shares of company stock valued at $1,226,685. Corporate insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On Entergy

A number of institutional investors have recently modified their holdings of ETR. EverSource Wealth Advisors LLC raised its position in shares of Entergy by 157.1% in the third quarter. EverSource Wealth Advisors LLC now owns 270 shares of the utilities provider’s stock valued at $25,000 after buying an additional 165 shares during the last quarter. Tidemark LLC acquired a new position in shares of Entergy in the fourth quarter valued at approximately $25,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Entergy during the third quarter worth approximately $32,000. Fortis Group Advisors LLC acquired a new position in Entergy during the third quarter worth approximately $32,000. Finally, OLD Point Trust & Financial Services N A acquired a new position in Entergy during the fourth quarter worth approximately $35,000. Institutional investors and hedge funds own 88.07% 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.