Entergy (NYSE:ETR) Hits New 52-Week High – Here’s What Happened

Entergy Corporation (NYSE:ETR) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $157.04 and last traded at $156.76, with a volume of 44344 shares trading hands. The stock had previously closed at $155.93.

Analyst Ratings Changes

ETR has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price objective on Entergy from $131.00 to $141.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Mizuho upped their price target on shares of Entergy from $138.00 to $165.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Morgan Stanley raised shares of Entergy from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $116.00 to $150.00 in a report on Monday, November 4th. UBS Group upped their target price on shares of Entergy from $143.00 to $144.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Finally, Scotiabank lifted their price target on Entergy from $119.00 to $144.00 and gave the stock a “sector perform” rating in a research note on Friday, November 1st. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $150.42.

Entergy Price Performance

The company has a market capitalization of $33.53 billion, a P/E ratio of 19.05, a PEG ratio of 2.55 and a beta of 0.71. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 1.77. The business has a 50 day simple moving average of $139.89 and a 200-day simple moving average of $122.72.

Entergy’s stock is set to split before the market opens on Friday, December 13th. The 2-1 split was announced on Thursday, October 31st. The newly minted shares will be distributed to shareholders after the closing bell on Thursday, December 12th.

Entergy (NYSE:ETR) last posted its earnings results on Thursday, October 31st. The utilities provider reported $2.99 EPS for the quarter, beating the consensus estimate of $2.91 by $0.08. Entergy had a return on equity of 9.53% and a net margin of 14.83%. The firm had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.46 billion. During the same period last year, the firm earned $3.27 EPS. Analysts predict that Entergy Corporation will post 7.22 EPS for the current fiscal year.

Entergy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 13th will be paid a dividend of $1.20 per share. This is a boost from Entergy’s previous quarterly dividend of $1.13. The ex-dividend date is Wednesday, November 13th. This represents a $4.80 annualized dividend and a yield of 3.07%. Entergy’s dividend payout ratio (DPR) is presently 58.47%.

Insider Transactions at Entergy

In other news, insider Eliecer Viamontes sold 200 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $147.00, for a total value of $29,400.00. Following the sale, the insider now owns 4,173 shares of the company’s stock, valued at approximately $613,431. The trade was a 4.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Peter S. Norgeot, Jr. sold 7,922 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $130.00, for a total value of $1,029,860.00. Following the transaction, the chief operating officer now directly owns 34,993 shares of the company’s stock, valued at $4,549,090. This represents a 18.46 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 15,506 shares of company stock valued at $2,073,670. Company insiders own 0.54% of the company’s stock.

Institutional Trading of Entergy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Ameriprise Financial Inc. grew its position in Entergy by 47.1% in the second quarter. Ameriprise Financial Inc. now owns 6,479,044 shares of the utilities provider’s stock worth $693,260,000 after buying an additional 2,075,776 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Entergy by 53.0% in the 3rd quarter. Franklin Resources Inc. now owns 5,718,859 shares of the utilities provider’s stock worth $754,318,000 after acquiring an additional 1,981,611 shares during the last quarter. Millennium Management LLC raised its position in shares of Entergy by 185.5% during the second quarter. Millennium Management LLC now owns 1,876,672 shares of the utilities provider’s stock worth $200,804,000 after purchasing an additional 1,219,419 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Entergy by 12.4% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,926,492 shares of the utilities provider’s stock valued at $741,135,000 after purchasing an additional 763,834 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its position in shares of Entergy by 89.2% in the 2nd quarter. Panagora Asset Management Inc. now owns 1,073,603 shares of the utilities provider’s stock valued at $114,876,000 after purchasing an additional 506,239 shares during the period. 88.07% of the stock is currently owned by institutional investors.

Entergy Company Profile

Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. It generates, transmits, distributes, and sells electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, including the City of New Orleans; and distributes natural gas.