Entergy (NYSE:ETR) Sets New 12-Month High - Here's Why

Entergy Corporation (NYSE:ETR - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $79.07 and last traded at $78.85, with a volume of 1058257 shares. The stock had previously closed at $77.56.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ETR shares. StockNews.com raised Entergy from a "sell" rating to a "hold" rating in a research report on Sunday, December 29th. Barclays increased their price target on shares of Entergy from $68.50 to $76.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. Mizuho boosted their price objective on shares of Entergy from $69.00 to $82.50 and gave the stock an "outperform" rating in a research report on Monday, November 4th. KeyCorp downgraded shares of Entergy from an "overweight" rating to a "sector weight" rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company boosted their price target on shares of Entergy from $68.50 to $85.00 and gave the company an "overweight" rating in a research report on Friday, November 1st. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $77.37.

Entergy Stock Up 1.9 %

The firm has a 50 day simple moving average of $75.53 and a two-hundred day simple moving average of $66.36. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $33.90 billion, a PE ratio of 19.26, a P/E/G ratio of 2.48 and a beta of 0.71.

Entergy (NYSE:ETR - Get Free Report) last released its earnings results on Thursday, October 31st. The utilities provider reported $1.50 EPS for the quarter, topping the consensus estimate of $1.46 by $0.04. 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 analysts' expectations of $3.46 billion. During the same quarter last year, the business earned $1.64 EPS. Research analysts expect that Entergy Corporation will post 3.61 EPS for the current year.

Entergy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Wednesday, November 13th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend was Wednesday, November 13th. Entergy's dividend payout ratio (DPR) is 58.39%.

Insider Activity at Entergy

In other Entergy news, insider Haley Fisackerly sold 8,268 shares of the firm's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $74.52, for a total value of $616,090.02. Following the completion of the sale, the insider now owns 4,032 shares of the company's stock, valued at approximately $300,444.48. This trade represents a 67.22 % 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 the SEC website. Also, insider Deanna D. Rodriguez sold 6,088 shares of the company's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $73.94, for a total transaction of $450,146.72. Following the transaction, the insider now directly owns 3,952 shares in the company, valued at approximately $292,210.88. This trade represents a 60.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,756 shares of company stock worth $1,095,637 over the last three months. 0.39% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Entergy

Institutional investors have recently modified their holdings of the company. OneDigital Investment Advisors LLC raised its holdings in Entergy by 2.1% during the third quarter. OneDigital Investment Advisors LLC now owns 3,427 shares of the utilities provider's stock worth $451,000 after purchasing an additional 69 shares during the last quarter. Acropolis Investment Management LLC raised its stake in shares of Entergy by 0.8% during the 3rd quarter. Acropolis Investment Management LLC now owns 8,836 shares of the utilities provider's stock worth $1,163,000 after buying an additional 69 shares during the last quarter. Great Valley Advisor Group Inc. raised its stake in shares of Entergy by 0.9% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 8,087 shares of the utilities provider's stock worth $1,065,000 after buying an additional 74 shares during the last quarter. Bank & Trust Co boosted its position in shares of Entergy by 12.8% in the 3rd quarter. Bank & Trust Co now owns 795 shares of the utilities provider's stock worth $105,000 after buying an additional 90 shares in the last quarter. Finally, Prossimo Advisors LLC grew its stake in Entergy by 1.5% in 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 during the last quarter. Hedge funds and other institutional investors own 88.07% of the company's stock.

About Entergy

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.