Seaport Res Ptn Predicts Increased Earnings for Entergy

Entergy Corporation (NYSE:ETR) – Analysts at Seaport Res Ptn raised their FY2028 EPS estimates for shares of Entergy in a research note issued to investors on Monday, January 6th. Seaport Res Ptn analyst A. Storozynski now expects that the utilities provider will earn $5.23 per share for the year, up from their previous forecast of $4.75. The consensus estimate for Entergy’s current full-year earnings is $3.61 per share.

Entergy (NYSE:ETR) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.04. The company 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 period in the previous year, the business posted $1.64 earnings per share.

A number of other research firms have also commented on ETR. Wells Fargo & Company upped their price objective on shares of Entergy from $68.50 to $85.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Royal Bank of Canada increased their target price on Entergy from $68.50 to $70.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Scotiabank lowered their price objective on Entergy from $165.00 to $82.00 and set a “sector perform” rating for the company in a research note on Tuesday. BMO Capital Markets reduced their price objective on shares of Entergy from $83.00 to $79.50 and set an “outperform” rating for the company in a research report on Monday, November 18th. Finally, Barclays raised their target price on Entergy from $68.50 to $76.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Six equities 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.37.

Entergy Stock Up 1.0 %

Shares of ETR opened at $76.69 on Wednesday. The stock’s 50-day moving average price is $75.25 and its two-hundred day moving average price is $65.62. Entergy has a 12 month low of $48.08 and a 12 month high of $79.04. The company has a market capitalization of $32.89 billion, a PE ratio of 18.68, a PEG ratio of 2.48 and a beta of 0.71. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 1.77.

Hedge Funds Weigh In On Entergy

A number of hedge funds have recently modified their holdings of ETR. TD Asset Management Inc increased its position in Entergy by 7.7% during the 2nd quarter. TD Asset Management Inc now owns 125,715 shares of the utilities provider’s stock valued at $13,452,000 after purchasing an additional 9,017 shares during the period. Private Advisor Group LLC raised its stake in Entergy by 2.0% in the second quarter. Private Advisor Group LLC now owns 6,318 shares of the utilities provider’s stock worth $676,000 after buying an additional 123 shares in the last quarter. Savant Capital LLC lifted its holdings in Entergy by 214.6% in the second quarter. Savant Capital LLC now owns 18,407 shares of the utilities provider’s stock worth $1,970,000 after buying an additional 12,557 shares during the period. Acadian Asset Management LLC boosted its position in Entergy by 341.8% during the 2nd quarter. Acadian Asset Management LLC now owns 65,723 shares of the utilities provider’s stock valued at $7,029,000 after acquiring an additional 50,846 shares in the last quarter. Finally, Caprock Group LLC grew its holdings in shares of Entergy by 16.4% during the 2nd quarter. Caprock Group LLC now owns 4,796 shares of the utilities provider’s stock worth $513,000 after acquiring an additional 675 shares during the period. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Insider Activity at Entergy

In other news, insider Haley Fisackerly sold 8,268 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $74.52, for a total value of $616,090.02. Following the completion of the sale, the insider now owns 4,032 shares of the company’s stock, valued at approximately $300,444.48. This represents a 67.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eliecer Viamontes sold 400 shares of Entergy stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $73.50, for a total value of $29,400.00. Following the completion of the transaction, the insider now owns 8,346 shares in the company, valued at approximately $613,431. This represents a 4.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,756 shares of company stock valued at $1,095,637. Company insiders own 0.39% of the company’s stock.

Entergy Cuts Dividend

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

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.