Entergy (ETR) to Release Earnings on Wednesday

Entergy (NYSE:ETR) is set to issue its quarterly earnings data before the market opens on Wednesday, April 24th. Analysts expect the company to announce earnings of $1.35 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.Parties that wish to register for the company’s conference call can do so using this link.

Entergy (NYSE:ETR) last issued its earnings results on Thursday, February 22nd. The utilities provider reported $0.52 earnings per share for the quarter, hitting the consensus estimate of $0.52. Entergy had a return on equity of 10.54% and a net margin of 19.41%. The business had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same period in the prior year, the business earned $0.51 EPS. On average, analysts expect Entergy to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Entergy Price Performance

Shares of ETR stock opened at $100.58 on Wednesday. Entergy has a twelve month low of $87.10 and a twelve month high of $109.85. The stock has a market capitalization of $21.45 billion, a price-to-earnings ratio of 9.07, a P/E/G ratio of 2.03 and a beta of 0.71. The stock has a fifty day simple moving average of $102.23 and a two-hundred day simple moving average of $99.96. The company has a current ratio of 0.57, a quick ratio of 0.32 and a debt-to-equity ratio of 1.57.

Entergy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Thursday, May 2nd will be issued a $1.13 dividend. This represents a $4.52 annualized dividend and a dividend yield of 4.49%. The ex-dividend date of this dividend is Wednesday, May 1st. Entergy’s dividend payout ratio is 40.76%.

Insider Activity at Entergy

In related news, EVP Kimberly Cook-Nelson sold 2,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $100.35, for a total transaction of $200,700.00. Following the transaction, the executive vice president now directly owns 16,037 shares of the company’s stock, valued at approximately $1,609,312.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Deanna D. Rodriguez sold 1,500 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $101.23, for a total value of $151,845.00. Following the sale, the insider now owns 3,442 shares in the company, valued at $348,433.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kimberly Cook-Nelson sold 2,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $100.35, for a total value of $200,700.00. Following the completion of the sale, 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 valued at $1,226,685 in the last ninety days. Corporate insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Entergy

Hedge funds have recently made changes to their positions in the company. Fairfield Bush & CO. acquired a new position in shares of Entergy during the first quarter valued at approximately $29,000. Harbour Investments Inc. increased its holdings in shares of Entergy by 17,550.0% in the third quarter. Harbour Investments Inc. now owns 353 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 351 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Entergy in the first quarter valued at approximately $39,000. Estabrook Capital Management acquired a new stake in shares of Entergy in the first quarter valued at approximately $48,000. Finally, State of Wyoming increased its holdings in shares of Entergy by 33.6% in the second quarter. State of Wyoming now owns 529 shares of the utilities provider’s stock valued at $52,000 after purchasing an additional 133 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on ETR. Royal Bank of Canada reissued an “outperform” rating and issued a $117.00 price target on shares of Entergy in a research report on Monday, February 26th. BMO Capital Markets boosted their price target 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 reduced their price target on Entergy from $108.00 to $107.00 and set an “equal weight” rating for the company in a research report on Monday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Entergy presently has an average rating of “Moderate Buy” and an average price target of $109.78.

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.