Entergy (NYSE:ETR) Shares Set to Split on Friday, December 13th

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

Entergy Price Performance

NYSE ETR opened at $155.94 on Wednesday. The company has a 50-day moving average price of $138.76 and a 200-day moving average price of $122.25. Entergy has a 52 week low of $96.15 and a 52 week high of $156.85. 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 firm has a market capitalization of $33.43 billion, a P/E ratio of 18.99, a PEG ratio of 2.52 and a beta of 0.71.

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

Entergy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 13th will be issued a $1.20 dividend. This is a boost from Entergy’s previous quarterly dividend of $1.13. This represents a $4.80 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date is Wednesday, November 13th. Entergy’s dividend payout ratio (DPR) is currently 58.47%.

Analyst Ratings Changes

Several research firms have recently commented on ETR. Argus raised Entergy to a “strong-buy” rating in a research note on Wednesday, August 28th. BMO Capital Markets lowered their price target on shares of Entergy from $166.00 to $159.00 and set an “outperform” rating on the stock in a report on Monday, November 18th. StockNews.com upgraded shares of Entergy from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Barclays upped their target price on shares of Entergy from $137.00 to $152.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Wells Fargo & Company raised their price target on Entergy from $137.00 to $170.00 and gave the company an “overweight” rating in a 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $150.42.

Insider Transactions at Entergy

In other Entergy news, CEO Andrew S. Marsh sold 19,200 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $120.35, for a total transaction of $2,310,720.00. Following the sale, the chief executive officer now directly owns 150,731 shares of the company’s stock, valued at $18,140,475.85. The trade was a 11.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Eliecer Viamontes sold 200 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 in the company, 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. Insiders have sold 39,872 shares of company stock valued at $5,004,310 in the last ninety days. Corporate 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 $25,000. Legacy Investment Solutions LLC purchased a new position in shares of Entergy during the 3rd quarter worth about $27,000. Cetera Trust Company N.A bought a new position in Entergy during the 3rd quarter valued at about $29,000. Fortitude Family Office LLC raised its position in Entergy by 423.8% in the 3rd quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 178 shares during the period. Finally, American National Bank lifted its stake in Entergy by 93.7% in the second quarter. American National Bank now owns 277 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 134 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

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.