Entergy Stock Scheduled to Split on Friday, December 13th (NYSE:ETR)

Entergy Corporation (NYSE:ETR) shares are set to split on Friday, December 13th. The 2-1 split was announced on Thursday, October 31st. The newly created shares will be payable to shareholders after the market closes on Thursday, December 12th.

Entergy Price Performance

Shares of ETR opened at $156.17 on Friday. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.89 and a quick ratio of 0.59. Entergy has a 1-year low of $96.15 and a 1-year high of $158.07. The stock has a market cap of $33.48 billion, a PE ratio of 19.02, a price-to-earnings-growth ratio of 2.61 and a beta of 0.71. The firm has a fifty day moving average price of $140.43 and a 200 day moving average price of $123.11.

Entergy (NYSE:ETR) last posted its earnings results on Thursday, October 31st. The utilities provider reported $2.99 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.08. The business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.46 billion. Entergy had a return on equity of 9.53% and a net margin of 14.83%. During the same period in the previous year, the business earned $3.27 EPS. As a group, sell-side analysts anticipate that Entergy will post 7.22 EPS for the current year.

Entergy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 13th will be given a $1.20 dividend. This is an increase 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 is 58.47%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Argus upgraded shares of Entergy to a “strong-buy” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. lifted their price objective on shares of Entergy from $131.00 to $141.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Morgan Stanley upgraded shares of Entergy from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $116.00 to $150.00 in a research report on Monday, November 4th. Scotiabank boosted their price target on shares of Entergy from $119.00 to $144.00 and gave the stock a “sector perform” rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company raised their price objective on shares of Entergy from $137.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $150.42.

Insider Activity at Entergy

In other Entergy news, insider Haley Fisackerly sold 4,134 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $149.03, for a total value of $616,090.02. Following the transaction, the insider now directly owns 2,016 shares in the company, valued at approximately $300,444.48. This represents a 67.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eliecer Viamontes sold 200 shares of Entergy stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $147.00, for a total transaction of $29,400.00. Following the sale, the insider now owns 4,173 shares of the company’s stock, valued at approximately $613,431. This trade represents a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,506 shares of company stock valued at $2,073,670. Insiders own 0.39% of the company’s stock.

Institutional Trading of Entergy

Several hedge funds and other institutional investors have recently bought and sold shares of ETR. Iron Horse Wealth Management LLC purchased a new position in Entergy during the second quarter worth approximately $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Entergy during the 3rd quarter worth $27,000. Cetera Trust Company N.A purchased a new position in shares of Entergy in the 3rd quarter worth $29,000. Fortitude Family Office LLC boosted its holdings in Entergy by 423.8% in the third quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 178 shares during the last quarter. Finally, American National Bank grew its position in Entergy by 93.7% during the second quarter. American National Bank now owns 277 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 134 shares during the period. 88.07% of the stock is owned by hedge funds and other 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.