FY2024 EPS Estimates for Entergy Lifted by Seaport Res Ptn

Entergy Corporation (NYSE:ETR) – Seaport Res Ptn raised their FY2024 earnings estimates for shares of Entergy in a report issued on Monday, January 6th. Seaport Res Ptn analyst A. Storozynski now forecasts that the utilities provider will earn $3.62 per share for the year, up from their prior estimate of $3.62. The consensus estimate for Entergy’s current full-year earnings is $3.61 per share. Seaport Res Ptn also issued estimates for Entergy’s FY2025 earnings at $3.93 EPS, FY2026 earnings at $4.35 EPS and FY2027 earnings at $4.76 EPS.

Entergy (NYSE:ETR) last posted its earnings results on Thursday, October 31st. The utilities provider reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.04. The business had revenue of $3.39 billion for 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 quarter in the previous year, the firm earned $1.64 earnings per share.

Other equities research analysts also recently issued reports about the company. Mizuho increased their price target on Entergy from $69.00 to $82.50 and gave the stock an “outperform” rating in a report on Monday, November 4th. Guggenheim increased their price objective on Entergy from $72.50 to $82.50 and gave the stock a “buy” rating in a research report on Friday, November 1st. KeyCorp cut shares of Entergy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. BMO Capital Markets lowered their target price on shares of Entergy from $83.00 to $79.50 and set an “outperform” rating on the stock in a research report on Monday, November 18th. Finally, Wells Fargo & Company boosted their price target on Entergy from $68.50 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $77.37.

Entergy Price Performance

Shares of ETR opened at $75.96 on Tuesday. The company has a market capitalization of $32.57 billion, a price-to-earnings ratio of 18.50, a price-to-earnings-growth ratio of 2.48 and a beta of 0.71. Entergy has a fifty-two week low of $48.08 and a fifty-two week high of $79.04. The firm has a 50-day simple moving average of $75.06 and a 200-day simple moving average of $65.54. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.59 and a current ratio of 0.89.

Entergy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Wednesday, November 13th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend was Wednesday, November 13th. Entergy’s dividend payout ratio (DPR) is currently 58.39%.

Insider Buying and Selling

In other news, insider Haley Fisackerly sold 8,268 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $74.52, for a total transaction of $616,090.02. Following the completion of the transaction, the insider now owns 4,032 shares of the company’s stock, valued at approximately $300,444.48. The trade was a 67.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Deanna D. Rodriguez sold 6,088 shares of Entergy stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $73.94, for a total transaction of $450,146.72. Following the completion of the sale, the insider now owns 3,952 shares in the company, valued at approximately $292,210.88. This represents a 60.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,756 shares of company stock worth $1,095,637. Insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Entergy

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Thrivent Financial for Lutherans grew its position in Entergy by 21.4% during the third quarter. Thrivent Financial for Lutherans now owns 986,546 shares of the utilities provider’s stock valued at $129,840,000 after purchasing an additional 174,093 shares in the last quarter. Ausbil Investment Management Ltd raised its holdings in shares of Entergy by 11.4% during the 3rd quarter. Ausbil Investment Management Ltd now owns 97,218 shares of the utilities provider’s stock valued at $12,795,000 after purchasing an additional 9,986 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Entergy by 4.0% in the third quarter. Principal Financial Group Inc. now owns 280,262 shares of the utilities provider’s stock worth $36,885,000 after purchasing an additional 10,697 shares in the last quarter. Empowered Funds LLC lifted its holdings in Entergy by 40.7% in the 3rd quarter. Empowered Funds LLC now owns 18,597 shares of the utilities provider’s stock worth $2,448,000 after purchasing an additional 5,381 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC acquired a new position in Entergy in the 3rd quarter valued at $32,541,000. 88.07% of the stock is currently owned by institutional investors.

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.