Entergy (NYSE:ETR) Reaches New 1-Year High – Here’s Why

Entergy Corporation (NYSE:ETR) reached a new 52-week high on Friday . The company traded as high as $84.46 and last traded at $84.22, with a volume of 217661 shares. The stock had previously closed at $83.25.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. UBS Group increased their target price on Entergy from $72.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Guggenheim increased their target price on Entergy from $72.50 to $82.50 and gave the company a “buy” rating in a report on Friday, November 1st. StockNews.com raised Entergy from a “sell” rating to a “hold” rating in a report on Sunday, December 29th. BMO Capital Markets reduced their target price on Entergy from $83.00 to $79.50 and set an “outperform” rating for the company in a report on Monday, November 18th. Finally, Wells Fargo & Company increased their target price on Entergy from $68.50 to $85.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $79.81.

Entergy Stock Performance

The firm has a 50 day simple moving average of $78.18 and a 200-day simple moving average of $70.38. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.89 and a quick ratio of 0.59. The company has a market cap of $36.03 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 2.53 and a beta of 0.72.

Entergy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 10th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $2.40 annualized dividend and a yield of 2.86%. Entergy’s dividend payout ratio (DPR) is 58.47%.

Insiders Place Their Bets

In other news, insider Deanna D. Rodriguez sold 6,088 shares of Entergy stock in a transaction on Friday, December 13th. The stock was sold at an average price of $73.94, for a total value of $450,146.72. Following the completion of the sale, the insider now directly owns 3,952 shares of the company’s stock, valued at approximately $292,210.88. The trade was a 60.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.39% of the stock is owned by insiders.

Institutional Investors Weigh In On Entergy

A number of institutional investors have recently modified their holdings of ETR. Vanguard Group Inc. grew its stake in shares of Entergy by 101.9% in the fourth quarter. Vanguard Group Inc. now owns 52,133,646 shares of the utilities provider’s stock valued at $3,952,773,000 after buying an additional 26,312,267 shares in the last quarter. FMR LLC grew its stake in shares of Entergy by 90.7% in the fourth quarter. FMR LLC now owns 12,612,407 shares of the utilities provider’s stock valued at $956,273,000 after buying an additional 5,998,760 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Entergy by 106.2% in the fourth quarter. Geode Capital Management LLC now owns 10,236,816 shares of the utilities provider’s stock valued at $774,103,000 after buying an additional 5,271,559 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Entergy by 66.7% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,042,159 shares of the utilities provider’s stock valued at $837,216,000 after purchasing an additional 4,418,528 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in Entergy by 76.3% in the fourth quarter. Franklin Resources Inc. now owns 10,079,631 shares of the utilities provider’s stock valued at $764,238,000 after purchasing an additional 4,360,772 shares during the period. 88.07% of the stock is owned by institutional investors and hedge funds.

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.