Haley Fisackerly, an officer at Entergy Corp (NYSE:ETR), recently sold a significant portion of company stock. According to a recent SEC filing, Fisackerly sold 4,134 shares of Entergy common stock on November 12, 2024, at a price of $149.03 per share, totaling approximately $616,090.
Additionally, the filing reports that Fisackerly acquired 4,134 shares through an employee stock option exercise at a price of $89.19 per share. Following these transactions, Fisackerly holds 2,016 shares directly and 4,714 shares indirectly through a 401(k) plan. The indirect holdings include 18 shares acquired via Entergy's dividend reinvestment plan.
"In other recent news, Entergy Corporation (NYSE:ETR) delivered strong financial results for the third quarter, with an adjusted earnings per share (EPS) of $2.99. This performance led to an upward revision of the lower end of the company's guidance range. The company also revealed a 21% increase in its capital spending forecast and an uptick in sales growth projections. BofA Securities adjusted its stance on Entergy, moving its rating to Neutral from Buy, but increased the price target for Entergy's shares to $154 from the previous $138.
These developments are part of the company's recent strategic business plan update, which includes the construction of three new combined cycle units, a new 500kV transmission line, a substation, and system upgrades following a service agreement with a major customer in Louisiana. Entergy also announced plans for a stock split, set to occur in early December, and an additional $7 billion targeted toward renewable energy and transmission projects.
The company anticipates an industrial sales growth rate of 11% to 12% through 2028, driven by a new customer in Louisiana, and is maintaining a cautious approach to new risks, particularly with operating companies. It is also exploring significant growth opportunities in data centers and actively engaging in regulatory support for new nuclear projects. These are some of the recent developments in the company's operations."
InvestingPro Insights
Entergy Corp's recent stock activity, highlighted by Haley Fisackerly's transactions, aligns with several key financial metrics and trends identified by InvestingPro. The company's stock has shown remarkable strength, with InvestingPro data indicating a 62.03% total return over the past year and a 34.72% return over the last six months. This robust performance is reflected in the stock price, which currently stands at 94.11% of its 52-week high.
Entergy's financial health is further underscored by its dividend policy. An InvestingPro Tip notes that the company has maintained dividend payments for 37 consecutive years, demonstrating a commitment to shareholder returns. This is complemented by a current dividend yield of 3.24% and a significant dividend growth of 12.15% over the last twelve months.
While the company operates with a significant debt burden, as pointed out by another InvestingPro Tip, its profitability remains strong. Entergy reported a gross profit of $5,488.65 million and an EBITDA of $4,596.97 million in the last twelve months as of Q3 2024. The company's P/E ratio (adjusted) stands at 14.68, suggesting a relatively attractive valuation compared to its earnings.
These insights provide context to Fisackerly's stock transactions and Entergy's overall financial position. Investors seeking a more comprehensive analysis can access additional InvestingPro Tips, with 11 more available on the platform, offering a deeper dive into Entergy's financial outlook and market performance.
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