Seaport Res Ptn Brokers Lift Earnings Estimates for Entergy

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

Entergy (NYSE:ETR) last posted 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. Entergy had a net margin of 14.83% and a return on equity of 9.53%. The firm had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same period last year, the firm posted $1.64 earnings per share.

Several other research firms have also recently commented on ETR. BMO Capital Markets cut their price target on Entergy from $83.00 to $79.50 and set an “outperform” rating for the company in a report on Monday, November 18th. StockNews.com raised shares of Entergy from a “sell” rating to a “hold” rating in a research report on Sunday, December 29th. Guggenheim raised their price objective on shares of Entergy from $72.50 to $82.50 and gave the stock a “buy” rating in a research report on Friday, November 1st. Wells Fargo & Company lifted their target price on shares of Entergy from $68.50 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, Barclays increased their price target on shares of Entergy from $68.50 to $76.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $77.37.

Entergy Trading Up 1.0 %

Shares of Entergy stock opened at $76.69 on Tuesday. The stock has a market cap of $32.89 billion, a P/E ratio of 18.68, a P/E/G ratio of 2.48 and a beta of 0.71. The stock’s 50 day simple moving average is $75.25 and its 200-day simple moving average is $65.62. Entergy has a 1-year low of $48.08 and a 1-year high of $79.04. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.89 and a quick ratio of 0.59.

Institutional Investors Weigh In On Entergy

Several large investors have recently bought and sold shares of ETR. OneDigital Investment Advisors LLC grew its position in shares of Entergy by 2.1% during the third quarter. OneDigital Investment Advisors LLC now owns 3,427 shares of the utilities provider’s stock worth $451,000 after buying an additional 69 shares in the last quarter. Acropolis Investment Management LLC lifted its stake in Entergy by 0.8% in the third quarter. Acropolis Investment Management LLC now owns 8,836 shares of the utilities provider’s stock worth $1,163,000 after acquiring an additional 69 shares during the last quarter. Great Valley Advisor Group Inc. grew its holdings in Entergy by 0.9% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 8,087 shares of the utilities provider’s stock worth $1,065,000 after acquiring an additional 74 shares in the last quarter. Bank & Trust Co increased its position in shares of Entergy by 12.8% in the 3rd quarter. Bank & Trust Co now owns 795 shares of the utilities provider’s stock valued at $105,000 after purchasing an additional 90 shares during the last quarter. Finally, Prossimo Advisors LLC raised its holdings in shares of Entergy by 1.5% in the 3rd quarter. Prossimo Advisors LLC now owns 5,971 shares of the utilities provider’s stock valued at $786,000 after purchasing an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Insider Transactions at Entergy

In other news, insider Eliecer Viamontes sold 400 shares of the company’s stock in a transaction 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 sale, the insider now owns 8,346 shares of the company’s stock, valued at approximately $613,431. This represents a 4.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Deanna D. Rodriguez sold 6,088 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $73.94, for a total value of $450,146.72. Following the completion of the sale, the insider now owns 3,952 shares in the company, valued at approximately $292,210.88. The trade was a 60.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,756 shares of company stock worth $1,095,637 over the last ninety days. Company insiders own 0.39% of the company’s stock.

Entergy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Wednesday, November 13th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date was Wednesday, November 13th. Entergy’s dividend payout ratio (DPR) is 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.