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

Entergy Corporation (NYSE:ETR)’s share price reached 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. The stock had previously closed at $155.93.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ETR shares. Wells Fargo & Company boosted their target price on shares of Entergy from $137.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Morgan Stanley raised Entergy from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $116.00 to $150.00 in a research note on Monday, November 4th. Barclays lifted their target price on Entergy from $137.00 to $152.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. UBS Group increased their price target on shares of Entergy from $143.00 to $144.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Finally, KeyCorp upped their price objective on shares of Entergy from $143.00 to $162.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.42.

Entergy Price Performance

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

Entergy shares are set to split before the market opens on Friday, December 13th. The 2-1 split was announced on Thursday, October 31st. The newly issued shares will be issued to shareholders after the market closes on Thursday, December 12th.

Entergy (NYSE:ETR) last posted its quarterly earnings data on Thursday, October 31st. The utilities provider reported $2.99 earnings per share (EPS) for the quarter, topping 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 net margin of 14.83% and a return on equity of 9.53%. During the same period in the prior year, the firm earned $3.27 EPS. Sell-side analysts predict that Entergy Corporation will post 7.22 earnings per share for the current fiscal year.

Entergy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 13th will be paid a $1.20 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This is a positive change from Entergy’s previous quarterly dividend of $1.13. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.07%. Entergy’s payout ratio is presently 58.47%.

Insider Activity at Entergy

In other news, COO Peter S. Norgeot, Jr. sold 3,250 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $122.56, for a total value of $398,320.00. Following the completion of the sale, the chief operating officer now directly owns 34,993 shares of the company’s stock, valued at approximately $4,288,742.08. This represents a 8.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Haley Fisackerly sold 4,134 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $149.03, for a total transaction of $616,090.02. Following the transaction, the insider now owns 2,016 shares of the company’s stock, valued at approximately $300,444.48. The trade was a 67.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,506 shares of company stock worth $2,073,670 in the last 90 days. 0.54% of the stock is owned by company insiders.

Hedge Funds Weigh In On Entergy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC increased its position in shares of Entergy by 2.1% during the third quarter. OneDigital Investment Advisors LLC now owns 3,427 shares of the utilities provider’s stock valued at $451,000 after purchasing an additional 69 shares during the period. Acropolis Investment Management LLC increased its holdings in Entergy by 0.8% in the 3rd quarter. Acropolis Investment Management LLC now owns 8,836 shares of the utilities provider’s stock valued at $1,163,000 after buying an additional 69 shares during the period. Great Valley Advisor Group Inc. raised its stake in shares of Entergy by 0.9% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 8,087 shares of the utilities provider’s stock valued at $1,065,000 after buying an additional 74 shares in the last quarter. Bank & Trust Co lifted its holdings in shares of Entergy by 12.8% during the 3rd quarter. Bank & Trust Co now owns 795 shares of the utilities provider’s stock worth $105,000 after acquiring an additional 90 shares during the period. Finally, Prossimo Advisors LLC boosted its position in shares of Entergy by 1.5% during the 3rd quarter. Prossimo Advisors LLC now owns 5,971 shares of the utilities provider’s stock valued at $786,000 after acquiring an additional 90 shares in the last quarter. 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.