Buy gold, crypto and China, tread carefully on rich U.S. tech: BofA’s Hartnett
Marcus V. Brown, Executive Vice President and General Counsel at Entergy Corp (NYSE:ETR), recently executed a significant stock transaction. On February 19, Brown sold 157,694 shares of Entergy common stock at an average price of $87.06 per share, totaling approximately $13.7 million. This sale was part of a broader set of transactions disclosed in a recent SEC filing. The transaction comes as Entergy trades near its 52-week high of $88.38, with the stock delivering an impressive 81% return over the past year. According to InvestingPro analysis, the company currently appears slightly overvalued based on its Fair Value metrics.
In addition to the sale, Brown acquired shares through multiple exercises of stock options. These transactions involved acquiring a total of 135,694 shares of Entergy common stock, with prices ranging from $47.94 to $65.86 per share. The total value of these acquisitions was approximately $7.9 million.
Following these transactions, Brown holds 31,930 shares directly, with an additional 1,430 shares held indirectly through a 401(k) plan.
These transactions provide insight into the financial activities of a key executive at Entergy, a major player in the electric services industry.
In other recent news, Entergy Corporation reported its fourth-quarter 2024 earnings per share (EPS) at $0.66, exceeding analyst expectations of $0.63, though revenue came in at $3.01 billion, below the forecasted $3.24 billion. Mizuho (NYSE:MFG) Securities and Guggenheim Securities both raised their price targets for Entergy to $95, maintaining an Outperform and Buy rating, respectively, highlighting the company’s expanded capital investment plan and robust EPS growth projections. Scotiabank (TSX:BNS) also adjusted its price target upward to $89, noting Entergy’s strong market position and regulatory mechanisms. Entergy’s updated EPS guidance for 2028 ranges from $5.10 to $5.40, reflecting an 8.7% to 10.3% compound annual growth rate based on 2024’s EPS of $3.65.
The company has announced a $37 billion capital plan through 2028, up from the previous $34 billion, to support increased industrial sales and new generation projects. This includes a significant investment in renewables and infrastructure, with a focus on industrial sales growth projected at 12-13% from 2024 to 2028. Additionally, Entergy’s management has expressed a commitment to pursuing further interconnections and leveraging existing partnerships to meet new customer demands. Despite the positive earnings report, Scotiabank analysts expressed caution, suggesting that while Entergy’s premium is justified, potential for significant gains may be limited.
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