Entergy (NYSE:ETR) Issues Quarterly Earnings Results

Entergy (NYSE:ETR) issued its earnings results on Wednesday. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.27), RTT News reports. The company had revenue of $31.17 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Entergy had a net margin of 19.41% and a return on equity of 10.54%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.14 earnings per share. Entergy updated its FY 2024 guidance to 7.050-7.350 EPS and its FY24 guidance to $7.05-7.35 EPS.

Entergy Stock Performance

ETR traded down $1.51 during trading on Wednesday, hitting $105.67. 588,332 shares of the stock were exchanged, compared to its average volume of 1,387,173. The firm has a market capitalization of $22.53 billion, a P/E ratio of 9.66, a PEG ratio of 2.12 and a beta of 0.71. Entergy has a 1-year low of $87.10 and a 1-year high of $109.53. The stock has a fifty day moving average price of $102.96 and a two-hundred day moving average price of $100.48. The company has a quick ratio of 0.32, a current ratio of 0.57 and a debt-to-equity ratio of 1.57.

Entergy Announces Dividend

The company also recently declared 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 4.28%. The ex-dividend date of this dividend is Wednesday, May 1st. Entergy’s dividend payout ratio (DPR) is 40.76%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Barclays lowered their price target on Entergy from $108.00 to $107.00 and set an “equal weight” rating for the company in a report on Monday, April 15th. BMO Capital Markets raised their target price on Entergy from $110.00 to $113.00 and gave the company an “outperform” rating in a report on Monday, February 26th. Royal Bank of Canada restated an “outperform” rating and set a $117.00 target price on shares of Entergy in a report on Monday, February 26th. KeyCorp raised their target price on Entergy from $108.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Finally, Scotiabank lowered their target price on Entergy from $111.00 to $104.00 and set a “sector perform” rating for the company in a report on Monday. One 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 MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.45.

Insiders Place Their Bets

In other Entergy news, EVP Marcus V. Brown sold 8,500 shares of Entergy stock in a transaction that occurred on 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 $1,019,247.24. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Entergy news, EVP Marcus V. Brown sold 8,500 shares of Entergy stock in a transaction that occurred on 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 $1,019,247.24. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Kimberly Cook-Nelson sold 2,000 shares of Entergy stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $100.35, for a total value of $200,700.00. Following the completion of the transaction, the executive vice president now owns 16,037 shares in the company, valued at $1,609,312.95. The disclosure for this sale can be found here. Insiders have sold a total of 12,000 shares of company stock valued at $1,226,685 over the last quarter. Company insiders own 0.54% of the company’s stock.

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.