Entergy (NYSE:ETR) Releases FY24 Earnings Guidance

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

Entergy Price Performance

Shares of ETR stock traded down $0.72 on Wednesday, reaching $106.46. The company’s stock had a trading volume of 2,446,413 shares, compared to its average volume of 1,411,738. The stock’s fifty day simple moving average is $102.96 and its 200-day simple moving average is $100.48. Entergy has a 1 year low of $87.10 and a 1 year high of $109.53. 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 company has a market capitalization of $22.70 billion, a price-to-earnings ratio of 9.60, a price-to-earnings-growth ratio of 2.12 and a beta of 0.71.

Entergy (NYSE:ETR) last posted its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $1.08 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.27). The firm had revenue of $31.17 billion for 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 firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.14 earnings per share. Analysts forecast that Entergy will post 7.22 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Thursday, May 2nd will be paid a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a yield of 4.25%. The ex-dividend date is Wednesday, May 1st. Entergy’s payout ratio is 40.76%.

Analyst Ratings Changes

Several analysts have recently weighed in on ETR shares. Royal Bank of Canada reiterated an outperform rating and set a $117.00 target price on shares of Entergy in a research report on Monday, February 26th. Scotiabank decreased their target price on Entergy from $111.00 to $104.00 and set a sector perform rating for the company in a research report on Monday. KeyCorp lifted their target price on Entergy from $108.00 to $112.00 and gave the stock an overweight rating in a research report on Friday, April 19th. BMO Capital Markets lifted their target price on Entergy from $110.00 to $113.00 and gave the stock an outperform rating in a research report on Monday, February 26th. Finally, Barclays decreased their target price on Entergy from $108.00 to $107.00 and set an equal weight rating for the company in a research report on Monday, April 15th. 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 stock. Based on data from MarketBeat, Entergy presently has an average rating of Moderate Buy and a consensus price target of $109.45.

Insider Buying and Selling at Entergy

In other Entergy news, EVP Marcus V. Brown sold 8,500 shares of Entergy stock in a transaction dated Friday, March 15th. The stock was 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 in the company, valued at $1,019,247.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Entergy news, EVP Marcus V. Brown sold 8,500 shares of Entergy stock in a transaction dated Friday, March 15th. The stock was 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 in the company, valued at $1,019,247.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kimberly Cook-Nelson sold 2,000 shares of Entergy stock in a transaction dated 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 approximately $1,609,312.95. The disclosure for this sale can be found here. Insiders have sold 12,000 shares of company stock worth $1,226,685 over the last quarter. 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.