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Peter S. Norgeot Jr., Executive Vice President and Chief Operating Officer of Entergy Corp . (NYSE:ETR), recently executed a series of stock transactions. On February 28, Norgeot sold 19,336 shares of Entergy common stock at an average price of $86.78 per share, totaling approximately $1.68 million. The transaction occurred as the stock trades near its 52-week high of $88.38, with InvestingPro data showing an impressive 80% return over the past year. This sale followed an exercise of stock options, where he acquired the same number of shares at a price of $54.80 each, amounting to just over $1.05 million. Following these transactions, Norgeot holds 86,065 shares of Entergy. These moves are part of his ongoing management of his equity holdings in the company, which currently has a market capitalization of $37.7 billion. The utility company maintains a "GOOD" financial health score according to InvestingPro analysis, with a notable track record of maintaining dividend payments for 38 consecutive years.
In other recent news, Entergy Corporation has seen a series of developments that are noteworthy for investors. Entergy reported its fourth-quarter 2024 earnings per share (EPS) at $0.66, which exceeded analyst expectations of $0.63, though its revenue of $3.01 billion fell short of the projected $3.24 billion. Despite the revenue miss, the company has announced an expanded capital investment plan, increasing it by $2.7 billion to a total of $37 billion through 2028. This expanded plan aims to support new generation projects and anticipated industrial sales growth of 12-13% from 2024 to 2028.
Analysts have been adjusting their outlooks on Entergy in light of these updates. Scotiabank (TSX:BNS) has raised its price target from $82 to $89, maintaining a Sector Perform rating, while Mizuho (NYSE:MFG) and Guggenheim have both increased their price targets to $95, with Mizuho maintaining an Outperform rating and Guggenheim a Buy rating. These changes reflect Entergy’s robust market position and strategic investments. The company has also updated its EPS growth guidance for 2026 to 2028, now anticipating a growth rate exceeding 8% annually, with EPS for 2028 projected to range between $5.10 and $5.40.
Entergy’s strategic positioning and financial performance have garnered positive sentiment from these firms, although Scotiabank expressed a cautious stance, noting that while Entergy’s premium is justified, opportunities for significant gains may have passed. Entergy’s management has emphasized the company’s strong fundamentals and future growth potential, including significant investments in renewables and infrastructure, which are expected to support the company’s long-term growth strategy.
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