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Eliecer Viamontes, an officer at Entergy Corp (NYSE:ETR), recently executed a significant sale of company stock. According to a recent filing, Viamontes sold 21,142 shares of Entergy common stock at a weighted average price of $85.62 per share, totaling approximately $1.81 million. The sale comes as Entergy’s stock trades near its 52-week high, having delivered an impressive 76% return over the past year.
In addition to the sale, Viamontes exercised stock options to acquire 14,642 shares at prices ranging from $49.54 to $54.80. Following these transactions, Viamontes holds 6,924 shares directly in the $36.4 billion utility company.
Entergy Corp, based in New Orleans, is a major player in the electric services industry. The company maintains a strong dividend track record, having paid dividends for 38 consecutive years, and currently receives a "GOOD" financial health rating from InvestingPro, which offers comprehensive analysis and 8 additional key insights about the company’s performance and outlook.
In other recent news, Entergy Corporation reported its fourth-quarter 2024 earnings per share (EPS) at $0.66, surpassing the consensus estimate of $0.64 but slightly below Scotiabank (TSX:BNS)’s forecast of $0.67. Despite a revenue shortfall, with reported revenue of $3.01 billion against an expected $3.24 billion, Entergy’s stock saw a positive reaction from investors. Entergy has also expanded its capital investment plan by $2.7 billion, bringing the total to approximately $37 billion through 2028, as noted by Mizuho (NYSE:MFG) Securities. This expansion is expected to support Entergy’s projected EPS growth rate, now anticipated to exceed 8% annually.
Analysts at Scotiabank have raised Entergy’s stock price target to $89, citing the company’s strong market position and robust regulatory mechanisms. Mizuho and Guggenheim Securities have both increased their price targets to $95, reflecting confidence in Entergy’s strategic direction and its recent financial performance. Guggenheim maintained a Buy rating, emphasizing Entergy’s solid performance and future growth potential. Additionally, Entergy’s industrial sales growth is projected to reach 12-13% from 2024 to 2028, indicating a positive outlook for the company’s operational execution.
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