Entergy Co. (NYSE:ETR – Free Report) – Equities researchers at KeyCorp reduced their Q2 2023 earnings per share estimates for shares of Entergy in a research note issued on Tuesday, July 18th. KeyCorp analyst S. Karp now expects that the utilities provider will earn $1.78 per share for the quarter, down from their prior forecast of $1.84. The consensus estimate for Entergy’s current full-year earnings is $6.67 per share. KeyCorp also issued estimates for Entergy’s Q3 2023 earnings at $3.03 EPS, FY2025 earnings at $7.68 EPS, FY2026 earnings at $8.21 EPS and FY2027 earnings at $8.77 EPS.
ETR has been the topic of a number of other research reports. Morgan Stanley increased their price target on Entergy from $97.00 to $106.00 and gave the stock an “underweight” rating in a research report on Thursday, April 20th. JPMorgan Chase & Co. reduced their target price on Entergy from $134.00 to $120.00 in a report on Tuesday, June 13th. LADENBURG THALM/SH SH assumed coverage on Entergy in a research note on Monday, April 3rd. They issued a “buy” rating and a $116.00 price target for the company. Guggenheim cut their price objective on shares of Entergy from $124.00 to $110.00 in a research report on Friday, July 7th. Finally, Citigroup decreased their target price on shares of Entergy from $131.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, April 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $117.92.
Entergy Stock Performance
Entergy (NYSE:ETR – Get Free Report) last released its quarterly earnings results on Wednesday, April 26th. The utilities provider reported $1.14 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.20). Entergy had a net margin of 8.17% and a return on equity of 10.34%. The business had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same quarter last year, the company posted $1.32 earnings per share.
Institutional Investors Weigh In On Entergy
Hedge funds have recently made changes to their positions in the stock. Fairfield Bush & CO. bought a new stake in shares of Entergy during the first quarter worth $29,000. Dimensional Fund Advisors LP grew its position in Entergy by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 637,493 shares of the utilities provider’s stock worth $74,429,000 after acquiring an additional 11,568 shares during the last quarter. Blair William & Co. IL increased its holdings in Entergy by 20.0% in the 1st quarter. Blair William & Co. IL now owns 44,607 shares of the utilities provider’s stock worth $5,208,000 after purchasing an additional 7,434 shares in the last quarter. Sei Investments Co. increased its holdings in Entergy by 52.8% in the 1st quarter. Sei Investments Co. now owns 189,102 shares of the utilities provider’s stock worth $22,074,000 after purchasing an additional 65,376 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its position in Entergy by 37.7% in the first quarter. Allianz Asset Management GmbH now owns 288,794 shares of the utilities provider’s stock valued at $33,717,000 after purchasing an additional 79,137 shares during the last quarter. 86.41% of the stock is currently owned by institutional investors and hedge funds.
About Entergy
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.
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