Entergy (NYSE:ETR) Hits New 1-Year High Following Analyst Upgrade

Entergy Co. (NYSE:ETR - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Friday after UBS Group raised their price target on the stock from $143.00 to $144.00. UBS Group currently has a buy rating on the stock. Entergy traded as high as $129.70 and last traded at $129.47, with a volume of 1413123 shares traded. The stock had previously closed at $127.68.

A number of other equities analysts also recently issued reports on ETR. LADENBURG THALM/SH SH reissued a "neutral" rating and issued a $109.50 price target (down from $117.00) on shares of Entergy in a research note on Wednesday, June 12th. Bank of America raised their target price on Entergy from $135.00 to $138.00 and gave the company a "buy" rating in a research note on Thursday, August 29th. Morgan Stanley upped their price target on Entergy from $100.00 to $109.00 and gave the stock an "underweight" rating in a research note on Friday, August 23rd. KeyCorp boosted their target price on shares of Entergy from $123.00 to $130.00 and gave the company an "overweight" rating in a report on Monday. Finally, BMO Capital Markets increased their price target on shares of Entergy from $124.00 to $131.00 and gave the stock an "outperform" rating in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Entergy presently has an average rating of "Moderate Buy" and an average target price of $127.35.

Insiders Place Their Bets

In other news, COO Peter S. Norgeot, Jr. sold 3,250 shares of the business's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $122.56, for a total transaction of $398,320.00. Following the transaction, the chief operating officer now owns 34,993 shares of the company's stock, valued at approximately $4,288,742.08. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related 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 transaction, the chief operating officer now directly owns 34,993 shares in the company, valued at $4,288,742.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eliecer Viamontes sold 5,166 shares of Entergy stock in a transaction on Friday, August 30th. The shares were sold at an average price of $120.00, for a total value of $619,920.00. Following the completion of the sale, the insider now owns 5,117 shares in the company, valued at approximately $614,040. The disclosure for this sale can be found here. Insiders have sold 42,888 shares of company stock valued at $5,110,766 in the last ninety days. 0.39% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ETR. Tidemark LLC purchased a new stake in Entergy during the 4th quarter worth approximately $25,000. Iron Horse Wealth Management LLC acquired a new stake in shares of Entergy in the second quarter valued at $25,000. Heritage Wealth Advisors boosted its holdings in Entergy by 2,172.7% in the first quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 239 shares during the period. American National Bank grew its stake in Entergy by 93.7% during the 2nd quarter. American National Bank now owns 277 shares of the utilities provider's stock worth $30,000 after purchasing an additional 134 shares in the last quarter. Finally, TruNorth Capital Management LLC acquired a new stake in Entergy in the 2nd quarter valued at about $32,000. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Entergy Trading Up 1.3 %

The stock has a market cap of $27.61 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 2.31 and a beta of 0.73. The company's fifty day moving average is $118.52 and its two-hundred day moving average is $110.81. The company has a quick ratio of 0.62, a current ratio of 0.94 and a debt-to-equity ratio of 1.81.

Entergy (NYSE:ETR - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.76 by $0.16. The firm had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.98 billion. Entergy had a net margin of 14.75% and a return on equity of 10.10%. During the same period last year, the business earned $1.84 EPS. On average, research analysts predict that Entergy Co. will post 7.22 EPS for the current fiscal year.

Entergy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 13th were paid a $1.13 dividend. This represents a $4.52 annualized dividend and a dividend yield of 3.50%. The ex-dividend date was Tuesday, August 13th. Entergy's dividend payout ratio (DPR) is presently 45.34%.

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.