Fintel reports that on August 30, 2023, BMO Capital maintained coverage of Entergy (NYSE:ETR) with a Outperform recommendation.
Analyst Price Forecast Suggests 23.11% Upside
As of August 2, 2023, the average one-year price target for Entergy is 117.30. The forecasts range from a low of 96.96 to a high of $136.50. The average price target represents an increase of 23.11% from its latest reported closing price of 95.28.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Entergy is 12,511MM, a decrease of 6.06%. The projected annual non-GAAP EPS is 6.83.
Entergy Declares $1.07 Dividend
On July 28, 2023 the company declared a regular quarterly dividend of $1.07 per share ($4.28 annualized). Shareholders of record as of August 11, 2023 will receive the payment on September 1, 2023. Previously, the company paid $1.07 per share.
At the current share price of $95.28 / share, the stock's dividend yield is 4.49%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.74%, the lowest has been 2.80%, and the highest has been 4.76%. The standard deviation of yields is 0.37 (n=236).
The current dividend yield is 2.06 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.66. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.15%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1484 funds or institutions reporting positions in Entergy. This is an increase of 5 owner(s) or 0.34% in the last quarter. Average portfolio weight of all funds dedicated to ETR is 0.26%, a decrease of 8.06%. Total shares owned by institutions decreased in the last three months by 1.75% to 223,059K shares. 
The put/call ratio of ETR is 0.69, indicating a bullish outlook.
What are Other Shareholders Doing?
Capital International Investors holds 10,471K shares representing 4.95% ownership of the company. In it's prior filing, the firm reported owning 10,897K shares, representing a decrease of 4.06%. The firm decreased its portfolio allocation in ETR by 18.55% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,587K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 6,530K shares, representing an increase of 0.86%. The firm decreased its portfolio allocation in ETR by 15.90% over the last quarter.
AWSHX - WASHINGTON MUTUAL INVESTORS FUND holds 5,586K shares representing 2.64% ownership of the company. No change in the last quarter.
Bank Of America holds 5,071K shares representing 2.40% ownership of the company. In it's prior filing, the firm reported owning 9,046K shares, representing a decrease of 78.38%. The firm decreased its portfolio allocation in ETR by 48.30% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 5,034K shares representing 2.38% ownership of the company. In it's prior filing, the firm reported owning 4,748K shares, representing an increase of 5.68%. The firm decreased its portfolio allocation in ETR by 13.21% over the last quarter.
Entergy Background Information
(This description is provided by the company.)
Entergy Corporation is an integrated energy company engaged in electric power production, transmission and retail distribution operations. Entergy delivers electricity to 3 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy owns and operates one of the cleanest large-scale U.S. power generating fleets with approximately 30,000 megawatts of electric generating capacity, including 8,000 megawatts of nuclear power. Headquartered in New Orleans, Louisiana, Entergy has annual revenues of $10 billion and more than 13,000 employees.
Additional reading:
- Entergy Statistical Report and Investor Guide
- Restated Certificate of Incorporation of Entergy Corporation, dated July 28, 2023.
- Early Opt-In and Conforming Changes Amendment, dated as of June 27, 2023, by and between Entergy New Orleans, as Borrower, and Bank of America, N.A. as Administrative Agent and LC Issuing Bank.
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