Seaport Res Ptn Predicts Increased Earnings for Entergy

Entergy Corporation (NYSE:ETR) – Equities research analysts at Seaport Res Ptn increased their FY2024 EPS estimates for Entergy in a report released on Monday, January 6th. Seaport Res Ptn analyst A. Storozynski now expects that the utilities provider will post earnings of $3.62 per share for the year, up from their prior forecast 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.

Other research analysts also recently issued research reports about the stock. Royal Bank of Canada raised their price target on shares of Entergy from $68.50 to $70.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. KeyCorp downgraded shares of Entergy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Bank of America lowered Entergy from a “buy” rating to a “neutral” rating and boosted their price target for the company from $69.00 to $77.00 in a report on Monday, November 4th. Morgan Stanley upgraded Entergy from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $58.00 to $75.00 in a report on Monday, November 4th. Finally, UBS Group upped their target price on Entergy from $72.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $77.37.

Entergy Stock Performance

ETR stock opened at $76.69 on Tuesday. The firm has a market cap of $32.89 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 2.48 and a beta of 0.71. Entergy has a twelve month low of $48.08 and a twelve month high of $79.04. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 1.77. The business’s fifty day simple moving average is $75.25 and its two-hundred day simple moving average is $65.62.

Entergy (NYSE:ETR) last posted its quarterly earnings data on Thursday, October 31st. The utilities provider reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.04. Entergy had a net margin of 14.83% and a return on equity of 9.53%. The company had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.46 billion. During the same period in the prior year, the company posted $1.64 EPS.

Entergy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Wednesday, November 13th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date was Wednesday, November 13th. Entergy’s dividend payout ratio is presently 58.39%.

Insider Buying and Selling

In related news, insider Eliecer Viamontes sold 400 shares of Entergy stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $73.50, for a total transaction of $29,400.00. Following the completion of the transaction, the insider now directly owns 8,346 shares in the company, valued at approximately $613,431. This trade represents a 4.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Deanna D. Rodriguez sold 6,088 shares of Entergy stock in a transaction on 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 transaction, the insider now directly owns 3,952 shares of the company’s stock, valued at $292,210.88. The trade was a 60.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,756 shares of company stock worth $1,095,637. 0.39% of the stock is owned by company insiders.

Hedge Funds Weigh In On Entergy

A number of hedge funds have recently bought and sold shares of the business. Fulton Bank N.A. lifted its position in shares of Entergy by 34.4% during the 4th quarter. Fulton Bank N.A. now owns 18,668 shares of the utilities provider’s stock valued at $1,415,000 after buying an additional 4,780 shares in the last quarter. Peoples Bank KS raised its position in Entergy by 100.0% during the fourth quarter. Peoples Bank KS now owns 1,000 shares of the utilities provider’s stock worth $76,000 after acquiring an additional 500 shares during the period. First County Bank CT lifted its holdings in Entergy by 99.7% during the fourth quarter. First County Bank CT now owns 10,941 shares of the utilities provider’s stock valued at $830,000 after purchasing an additional 5,461 shares in the last quarter. Bank & Trust Co grew its position in shares of Entergy by 100.0% in the fourth quarter. Bank & Trust Co now owns 1,590 shares of the utilities provider’s stock valued at $121,000 after purchasing an additional 795 shares during the period. Finally, Diversified Trust Co increased its stake in shares of Entergy by 119.4% during the fourth quarter. Diversified Trust Co now owns 6,002 shares of the utilities provider’s stock worth $455,000 after purchasing an additional 3,266 shares in the last quarter. Hedge funds and other institutional investors own 88.07% 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.