Entergy (NYSE:ETR) Posts Earnings Results, Misses Estimates By $0.27 EPS

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

Entergy Trading Down 1.4 %

Shares of ETR stock traded down $1.51 on Wednesday, hitting $105.67. 588,332 shares of the stock traded hands, compared to its average volume of 1,387,173. The firm’s 50-day moving average price is $102.96 and its two-hundred day moving average price is $100.48. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.32 and a current ratio of 0.57. The stock has a market capitalization of $22.53 billion, a PE ratio of 9.66, a PEG ratio of 2.12 and a beta of 0.71. Entergy has a twelve month low of $87.10 and a twelve month high of $109.53.

Entergy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Thursday, May 2nd will be given a dividend of $1.13 per share. The ex-dividend date is Wednesday, May 1st. This represents a $4.52 annualized dividend and a dividend yield of 4.28%. Entergy’s payout ratio is 40.76%.

Insider Activity

In other news, EVP Kimberly Cook-Nelson sold 2,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $100.35, for a total transaction of $200,700.00. Following the transaction, the executive vice president now owns 16,037 shares of the company’s stock, valued at approximately $1,609,312.95. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Deanna D. Rodriguez sold 1,500 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $101.23, for a total value of $151,845.00. Following the sale, the insider now directly owns 3,442 shares in the company, valued at approximately $348,433.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kimberly Cook-Nelson sold 2,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $100.35, for a total transaction of $200,700.00. Following the completion of the sale, 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. In the last quarter, insiders have sold 12,000 shares of company stock valued at $1,226,685. 0.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ETR. Barclays lowered their price target 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. BMO Capital Markets lifted their price target on shares of 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 reaffirmed an “outperform” rating and set a $117.00 price target on shares of Entergy in a report on Monday, February 26th. KeyCorp lifted their price target on shares of 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 shares of Entergy from $111.00 to $104.00 and set a “sector perform” rating on the stock in a report on Monday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $109.45.

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.