In a recent transaction, Haley Fisackerly, an officer of Entergy Corp (NYSE:ETR), sold 500 shares of the company's common stock at a price of $119.64 per share, amounting to a total sale value of $59,820. This transaction, dated August 26, 2024, was disclosed in a filing with the Securities and Exchange Commission.
Following the sale, Fisackerly continues to hold 1,998 shares of Entergy directly, as noted in the filing. Additionally, Fisackerly has an indirect ownership of 4,714 shares through a 401(k) plan. It is noteworthy that the indirect holdings include 19 shares acquired through the dividend reinvestment feature of Entergy's equity ownership plans.
Entergy Corp, with its headquarters in New Orleans, Louisiana, operates in the electric services industry and is incorporated in Delaware. The company's business address is listed as 639 Loyola Ave, New Orleans, LA, 70113, and it can be contacted via phone at 504-576-4000.
The transaction was signed on behalf of Fisackerly by Daniel T. Falstad, who holds the power of attorney for the reporting person, on August 27, 2024. The reported sale provides current and potential investors with insight into the trading activities of the company's executives, which can be a valuable piece of information for making investment decisions.
In other recent news, Entergy Corporation (NYSE:ETR) showcased robust earnings in its second-quarter report, with operating earnings per share (EPS) of $1.92 surpassing both BMO Capital's estimate of $1.70 and the consensus estimate of $1.76. The company also confirmed its adjusted EPS guidance for 2024 and reported a strong net liquidity of $5.9 billion. BMO Capital subsequently raised its price target for Entergy to $131, maintaining an Outperform rating on the stock. Evercore ISI also increased its price target for Entergy to $120, citing potential industrial opportunities and the extension of the Louisiana formula rate plan as drivers of this outlook.
Despite these positive developments, Evercore ISI noted that storms present a primary risk to Entergy's operational and financial stability. In addition to these financial updates, Entergy is actively engaged in expanding its renewable energy portfolio and enhancing infrastructure resiliency. The company is also progressing with infrastructure projects and growth strategies, including seeking approval for new generation resources in Texas and a gas local distribution company (LDC) sale in Louisiana. These are recent developments for Entergy Corporation.
InvestingPro Insights
Entergy Corp (NYSE:ETR), a major player in the electric services industry, has been navigating the market with a mix of strategic financial metrics. As of the last twelve months leading up to Q2 2024, Entergy's market capitalization stands at $25.45 billion, reflecting its substantial presence in the sector.
InvestingPro data highlights that Entergy's P/E ratio is currently at 14.22, suggesting that the stock is trading at a reasonable multiple of its earnings. This is further supported by the adjusted P/E ratio for the same period, which is lower at 11.48, indicating potential value for investors considering near-term earnings growth. Additionally, the company boasts a strong dividend yield of 3.78%, underscoring its commitment to returning value to shareholders. This is in line with one of the InvestingPro Tips, which notes that Entergy has raised its dividend for 9 consecutive years, showcasing a stable and investor-friendly track record.
Another InvestingPro Tip worth mentioning is that the stock generally trades with low price volatility, which could be an attractive feature for investors seeking stability in their portfolio. It's also noteworthy that analysts predict the company will be profitable this year, aligning with its performance over the last twelve months. These insights, along with the fact that Entergy has maintained dividend payments for an impressive 37 consecutive years, provide a broader context for understanding the company's financial health and investment potential.
For investors looking for deeper analysis and additional InvestingPro Tips, there are 11 more listed on the InvestingPro platform for Entergy Corp, providing a comprehensive outlook on the company's financials and market position.
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