Entergy (ETR) Set to Announce Earnings on Thursday

Entergy (NYSE:ETR) is scheduled to be announcing its earnings results before the market opens on Thursday, October 31st. Analysts expect the company to announce earnings of $2.99 per share for the quarter. Entergy has set its FY 2024 guidance at 7.050-7.350 EPS and its FY24 guidance at $7.05 to $7.35 EPS.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Entergy (NYSE:ETR) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.16. The company had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.98 billion. Entergy had a net margin of 14.75% and a return on equity of 10.10%. During the same period in the prior year, the firm earned $1.84 earnings per share. On average, analysts expect Entergy to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Entergy Trading Down 1.6 %

NYSE:ETR opened at $134.13 on Wednesday. The firm has a 50-day simple moving average of $128.17 and a 200-day simple moving average of $116.43. Entergy has a one year low of $92.31 and a one year high of $138.24. The firm has a market cap of $28.68 billion, a P/E ratio of 16.04, a P/E/G ratio of 2.56 and a beta of 0.74. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.62 and a current ratio of 0.94.

Entergy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 13th will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 3.58%. This is a positive change from Entergy’s previous quarterly dividend of $1.13. The ex-dividend date is Wednesday, November 13th. Entergy’s dividend payout ratio (DPR) is presently 54.07%.

Insider Activity at Entergy

In other news, COO Peter S. Norgeot, Jr. sold 7,922 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $130.00, for a total value of $1,029,860.00. Following the completion of the transaction, the chief operating officer now directly owns 34,993 shares in the company, valued at $4,549,090. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Andrew S. Marsh sold 3,200 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $121.46, for a total transaction of $388,672.00. Following the completion of the transaction, the chief executive officer now directly owns 150,731 shares in the company, valued at $18,307,787.26. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Peter S. Norgeot, Jr. sold 7,922 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $130.00, for a total value of $1,029,860.00. Following the sale, the chief operating officer now directly owns 34,993 shares in the company, valued at $4,549,090. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,810 shares of company stock valued at $6,140,626 in the last ninety days. Company insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on ETR. BMO Capital Markets increased their target price on Entergy from $131.00 to $140.00 and gave the company an “outperform” rating in a research report on Tuesday, October 15th. UBS Group raised their price objective on Entergy from $143.00 to $144.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Barclays reduced their target price on shares of Entergy from $138.00 to $137.00 and set an “overweight” rating for the company in a report on Monday, October 7th. JPMorgan Chase & Co. raised their price target on shares of Entergy from $131.00 to $141.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Finally, Morgan Stanley boosted their price objective on shares of Entergy from $109.00 to $115.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Entergy currently has an average rating of “Moderate Buy” and an average price target of $131.19.

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.