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Entergy (NYSE:ETR) Hits New 1-Year High - Here's Why

Entergy logo with Utilities background

Entergy Co. (NYSE:ETR - Get Free Report) shares hit a new 52-week high on Thursday . The company traded as high as $143.86 and last traded at $143.69, with a volume of 92028 shares trading hands. The stock had previously closed at $134.40.

Analyst Upgrades and Downgrades

ETR has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price objective on Entergy from $125.00 to $137.00 and gave the stock an "overweight" rating in a report on Friday, August 2nd. Bank of America lifted their price objective on Entergy from $135.00 to $138.00 and gave the company a "buy" rating in a research note on Thursday, August 29th. BMO Capital Markets increased their target price on shares of Entergy from $131.00 to $140.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 15th. Barclays reduced their price target on shares of Entergy from $138.00 to $137.00 and set an "overweight" rating on the stock in a research report on Monday, October 7th. Finally, Morgan Stanley increased their price objective on shares of Entergy from $109.00 to $115.00 and gave the stock an "underweight" rating in a research report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Entergy has an average rating of "Moderate Buy" and an average target price of $131.19.

Get Our Latest Stock Analysis on Entergy

Entergy Price Performance

The company has a market cap of $33.09 billion, a P/E ratio of 17.46, a P/E/G ratio of 2.56 and a beta of 0.74. The company's 50-day moving average price is $128.48 and its two-hundred day moving average price is $116.55. The company has a current ratio of 0.94, a quick ratio of 0.62 and a debt-to-equity ratio of 1.81.

Entergy (NYSE:ETR - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.16. The firm had revenue of $2.95 billion for the quarter, compared to analysts' expectations of $2.98 billion. Entergy had a return on equity of 10.10% and a net margin of 14.75%. During the same quarter in the prior year, the firm posted $1.84 earnings per share. As a group, sell-side analysts expect that Entergy Co. will post 7.21 earnings per share for the current year.

Entergy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 13th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.10%. This is a boost from Entergy's previous quarterly dividend of $1.13. The ex-dividend date is Wednesday, November 13th. Entergy's dividend payout ratio is 54.07%.

Insider Transactions at Entergy

In related news, COO Peter S. Norgeot, Jr. sold 7,922 shares of the business's stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $130.00, for a total transaction of $1,029,860.00. Following the completion of the sale, the chief operating officer now owns 34,993 shares of the company's stock, valued at $4,549,090. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Peter S. Norgeot, Jr. sold 11,472 shares of the company's stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $115.16, for a total transaction of $1,321,115.52. Following the completion of the transaction, the chief operating officer now owns 37,888 shares in the company, valued at approximately $4,363,182.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Peter S. Norgeot, Jr. sold 7,922 shares of Entergy stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $130.00, for a total transaction of $1,029,860.00. Following the completion of the sale, the chief operating officer now owns 34,993 shares in the company, valued at approximately $4,549,090. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,810 shares of company stock worth $6,140,626. 0.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Entergy

A number of hedge funds have recently made changes to their positions in the business. Iron Horse Wealth Management LLC bought a new stake in Entergy during the 2nd quarter valued at $25,000. Heritage Wealth Advisors raised its stake in shares of Entergy by 2,172.7% during 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 in the last quarter. Cetera Trust Company N.A acquired a new stake in Entergy in the third quarter worth about $29,000. Fortitude Family Office LLC grew 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 valued at $29,000 after buying an additional 178 shares in the last quarter. Finally, American National Bank increased its stake in Entergy by 93.7% during the 2nd quarter. American National Bank now owns 277 shares of the utilities provider's stock valued at $30,000 after buying an additional 134 shares during the period. Institutional investors own 88.07% of the company's stock.

About Entergy

(Get Free Report)

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.

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