Scotiabank Comments on Entergy’s FY2024 Earnings (NYSE:ETR)

Entergy Corporation (NYSE:ETR) – Investment analysts at Scotiabank upped their FY2024 earnings estimates for Entergy in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst A. Weisel now forecasts that the utilities provider will earn $3.63 per share for the year, up from their previous forecast of $3.58. Scotiabank has a “Sector Perform” rating and a $82.00 price objective on the stock. The consensus estimate for Entergy’s current full-year earnings is $3.61 per share. Scotiabank also issued estimates for Entergy’s FY2025 earnings at $3.87 EPS.

Other equities research analysts also recently issued research reports about the stock. Bank of America downgraded shares of Entergy from a “buy” rating to a “neutral” rating and increased their target price for the stock from $69.00 to $77.00 in a research note on Monday, November 4th. KeyCorp downgraded Entergy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Barclays upped their price target on Entergy from $68.50 to $76.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Mizuho boosted their price objective on shares of Entergy from $69.00 to $82.50 and gave the company an “outperform” rating in a research note on Monday, November 4th. Finally, Guggenheim upped 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. Six investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $77.37.

Entergy Stock Up 1.0 %

Shares of NYSE:ETR opened at $76.69 on Thursday. 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. 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 firm has a fifty day moving average price of $75.24 and a 200 day moving average price of $65.69.

Entergy (NYSE:ETR) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.04. Entergy had a return on equity of 9.53% and a net margin of 14.83%. The firm had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter last year, the business posted $1.64 EPS.

Entergy Cuts Dividend

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

Insiders Place Their Bets

In other news, insider Deanna D. Rodriguez sold 6,088 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 3,952 shares in the company, valued at $292,210.88. This represents a 60.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Haley Fisackerly sold 8,268 shares of Entergy stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $74.52, for a total value of $616,090.02. Following the transaction, the insider now owns 4,032 shares of the company’s stock, valued at $300,444.48. This represents a 67.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,756 shares of company stock worth $1,095,637. 0.39% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC boosted its holdings 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 purchasing an additional 69 shares during the last quarter. Acropolis Investment Management LLC lifted its position in Entergy by 0.8% during the third quarter. Acropolis Investment Management LLC now owns 8,836 shares of the utilities provider’s stock worth $1,163,000 after buying an additional 69 shares during the period. Great Valley Advisor Group Inc. boosted its stake in Entergy by 0.9% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 8,087 shares of the utilities provider’s stock worth $1,065,000 after buying an additional 74 shares during the last quarter. Bank & Trust Co boosted its stake in Entergy by 12.8% in the 3rd quarter. Bank & Trust Co now owns 795 shares of the utilities provider’s stock worth $105,000 after buying an additional 90 shares during the last quarter. Finally, Prossimo Advisors LLC grew its holdings in 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 buying an additional 90 shares during the period. Institutional investors and hedge funds own 88.07% of the company’s stock.

Entergy Company Profile

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.