Entergy Corporation (ETR) Issues Quarterly Earnings Results, Beats Expectations By $0.18 EPS
Entergy Corporation (NYSE:ETR) posted its earnings results on Wednesday. The company reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.18. Entergy Corporation had a net margin of 12.20% and a return on equity of 15.70%. During the same period in the prior year, the business earned $1.58 earnings per share. Entergy Corporation updated its FY17 guidance to $4.75-5.35 EPS.
Shares of Entergy Corporation (NYSE:ETR) opened at 72.77 on Friday. The company has a market capitalization of $13.04 billion, a P/E ratio of 10.16 and a beta of 0.42. Entergy Corporation has a 12-month low of $66.71 and a 12-month high of $82.09. The company’s 50 day moving average is $71.61 and its 200 day moving average is $73.95.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 1st. Investors of record on Thursday, February 9th will be issued a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 4.78%. The ex-dividend date of this dividend is Tuesday, February 7th. Entergy Corporation’s dividend payout ratio is currently 48.60%.
Several hedge funds have recently made changes to their positions in ETR. Brookstone Capital Management increased its stake in shares of Entergy Corporation by 14.1% in the third quarter. Brookstone Capital Management now owns 50,814 shares of the company’s stock worth $3,899,000 after buying an additional 6,289 shares in the last quarter. Foster & Motley Inc. increased its stake in shares of Entergy Corporation by 157.1% in the third quarter. Foster & Motley Inc. now owns 46,580 shares of the company’s stock valued at $3,574,000 after buying an additional 28,461 shares during the period. BlackRock Advisors LLC increased its stake in shares of Entergy Corporation by 2.7% in the third quarter. BlackRock Advisors LLC now owns 191,783 shares of the company’s stock valued at $14,716,000 after buying an additional 5,125 shares during the period. National Pension Service increased its stake in shares of Entergy Corporation by 9.3% in the third quarter. National Pension Service now owns 137,571 shares of the company’s stock valued at $10,556,000 after buying an additional 11,722 shares during the period. Finally, United Services Automobile Association increased its stake in shares of Entergy Corporation by 16.6% in the third quarter. United Services Automobile Association now owns 544,756 shares of the company’s stock valued at $41,799,000 after buying an additional 77,442 shares during the period. Institutional investors and hedge funds own 85.60% of the company’s stock.
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Several analysts have commented on the stock. Wolfe Research downgraded shares of Entergy Corporation from a “market perform” rating to an “underperform” rating in a research report on Monday, October 24th. RBC Capital Markets reissued a “hold” rating and issued a $75.00 target price on shares of Entergy Corporation in a research report on Wednesday, January 4th. Deutsche Bank AG decreased their target price on shares of Entergy Corporation from $82.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, October 26th. Jefferies Group LLC decreased their target price on shares of Entergy Corporation from $85.50 to $74.00 and set a “hold” rating for the company in a research report on Wednesday, October 26th. Finally, Zacks Investment Research downgraded shares of Entergy Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, October 27th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $76.91.
Entergy Corporation Company Profile
Entergy Corporation is a holding company. The Company is an integrated energy company engaged in electric power production and retail electric distribution operations. It operates through two business segments: Utility and Entergy Wholesale Commodities. The Utility segment includes the generation, transmission, distribution and sale of electric power to retail and wholesale customers in areas of Arkansas, Mississippi, Texas and Louisiana, including the City of New Orleans and operates a natural gas distribution business.
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