FY2024 EPS Estimates for Entergy Co. Boosted by Seaport Res Ptn (NYSE:ETR)

Entergy Co. (NYSE:ETR) – Equities researchers at Seaport Res Ptn increased their FY2024 earnings per share (EPS) estimates for Entergy in a research report issued on Wednesday, September 13th. Seaport Res Ptn analyst A. Storozynski now expects that the utilities provider will post earnings per share of $7.23 for the year, up from their prior forecast of $7.20. The consensus estimate for Entergy’s current full-year earnings is $6.69 per share. Seaport Res Ptn also issued estimates for Entergy’s FY2025 earnings at $7.69 EPS.

Entergy (NYSE:ETR) last posted its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.15. The firm had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $3.26 billion. Entergy had a return on equity of 10.22% and a net margin of 10.22%. During the same period last year, the company earned $1.78 earnings per share.

A number of other analysts have also recently issued reports on ETR. Morgan Stanley cut their price objective on Entergy from $102.00 to $94.00 and set an “underweight” rating for the company in a research report on Wednesday, August 23rd. BMO Capital Markets cut their price objective on Entergy from $120.00 to $114.00 and set an “outperform” rating for the company in a research report on Wednesday, August 30th. Barclays initiated coverage on Entergy in a research report on Wednesday, August 23rd. They issued an “equal weight” rating and a $98.00 price objective for the company. Guggenheim cut their price objective on Entergy from $124.00 to $110.00 in a research report on Friday, July 7th. Finally, JPMorgan Chase & Co. raised their price objective on Entergy from $121.00 to $124.00 and gave the company an “overweight” rating in a research report on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $113.50.

Entergy Stock Up 1.7 %

ETR stock opened at $98.75 on Thursday. Entergy has a twelve month low of $91.80 and a twelve month high of $120.78. The company has a market cap of $20.88 billion, a price-to-earnings ratio of 15.05, a P/E/G ratio of 2.49 and a beta of 0.65. The business has a 50 day moving average price of $97.80 and a two-hundred day moving average price of $101.53. The company has a quick ratio of 0.54, a current ratio of 0.80 and a debt-to-equity ratio of 1.84.

Hedge Funds Weigh In On Entergy

Hedge funds and other institutional investors have recently modified their holdings of the business. Keel Point LLC increased its stake in shares of Entergy by 9.0% in the 1st quarter. Keel Point LLC now owns 3,026 shares of the utilities provider’s stock valued at $326,000 after purchasing an additional 250 shares during the last quarter. Rhumbline Advisers grew its position in Entergy by 0.3% during the 1st quarter. Rhumbline Advisers now owns 364,537 shares of the utilities provider’s stock worth $39,275,000 after acquiring an additional 1,205 shares during the last quarter. DAVENPORT & Co LLC bought a new stake in Entergy during the 1st quarter worth $2,036,000. Keybank National Association OH grew its position in Entergy by 45.8% during the 1st quarter. Keybank National Association OH now owns 3,625 shares of the utilities provider’s stock worth $391,000 after acquiring an additional 1,139 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC grew its position in Entergy by 0.7% during the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 48,009 shares of the utilities provider’s stock worth $5,172,000 after acquiring an additional 344 shares during the last quarter. Institutional investors own 86.52% of the company’s stock.

Insider Buying and Selling at Entergy

In other news, EVP Marcus V. Brown sold 13,500 shares of Entergy stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $95.40, for a total value of $1,287,900.00. Following the transaction, the executive vice president now owns 9,251 shares in the company, valued at approximately $882,545.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.37% of the company’s stock.

Entergy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 11th were issued a $1.07 dividend. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $4.28 annualized dividend and a yield of 4.33%. Entergy’s dividend payout ratio is presently 65.24%.

Entergy Company Profile

Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. The company operates in two segments, Utility and Entergy Wholesale Commodities. The Utility segment 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.