Entergy (NYSE:ETR) Updates FY24 Earnings Guidance

Entergy (NYSE:ETR) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $7.05-7.35 for the period, compared to the consensus earnings per share estimate of $7.21. Entergy also updated its FY 2024 guidance to 7.050-7.350 EPS.

Entergy Stock Down 0.3 %

Shares of NYSE ETR opened at $107.17 on Wednesday. Entergy has a 12-month low of $87.10 and a 12-month high of $109.53. The company has a market cap of $22.85 billion, a P/E ratio of 9.66, a P/E/G ratio of 2.12 and a beta of 0.71. The company has a current ratio of 0.57, a quick ratio of 0.32 and a debt-to-equity ratio of 1.57. The stock has a fifty day moving average price of $102.96 and a 200 day moving average price of $100.48.

Entergy (NYSE:ETR) last announced its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.27). Entergy had a net margin of 19.41% and a return on equity of 10.54%. The company had revenue of $31.17 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the prior year, the company posted $1.14 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. Research analysts anticipate that Entergy will post 7.22 EPS for the current fiscal year.

Entergy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Thursday, May 2nd will be paid a dividend of $1.13 per share. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $4.52 annualized dividend and a dividend yield of 4.22%. Entergy’s dividend payout ratio is presently 40.76%.

Analyst Ratings Changes

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

Insider Buying and Selling

In other Entergy news, EVP Marcus V. Brown sold 8,500 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $102.84, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Deanna D. Rodriguez sold 1,500 shares of Entergy stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $101.23, for a total transaction of $151,845.00. Following the sale, the insider now owns 3,442 shares of the company’s stock, valued at $348,433.66. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Marcus V. Brown sold 8,500 shares of Entergy stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $102.84, for a total value of $874,140.00. Following the sale, the executive vice president now directly owns 9,911 shares in the company, valued at approximately $1,019,247.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,000 shares of company stock worth $1,226,685. Corporate insiders own 0.54% 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.