Entergy (NYSE:ETR) Reaches New 52-Week High on Strong Earnings

Entergy Co. (NYSE:ETR)’s stock price reached a new 52-week high during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $143.86 and last traded at $143.69, with a volume of 92028 shares traded. The stock had previously closed at $134.40.

The utilities provider reported $2.99 EPS for the quarter, beating analysts’ consensus estimates of $2.91 by $0.08. The company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.46 billion. Entergy had a return on equity of 10.10% and a net margin of 14.75%. During the same quarter last year, the business posted $3.27 EPS.

Entergy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 13th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 3.32%. This is a positive change from Entergy’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend is Wednesday, November 13th. Entergy’s dividend payout ratio (DPR) is presently 58.47%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada upped their price objective on shares of Entergy from $137.00 to $140.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Argus upgraded Entergy to a “strong-buy” rating in a research note on Wednesday, August 28th. Barclays cut their target price on Entergy from $138.00 to $137.00 and set an “overweight” rating on the stock in a research note on Monday, October 7th. StockNews.com cut shares of Entergy from a “hold” rating to a “sell” rating in a research note on Friday. Finally, UBS Group raised their price objective on shares of Entergy from $143.00 to $144.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $141.96.

Insider Buying and Selling

In other Entergy news, CEO Andrew S. Marsh sold 3,200 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $121.46, for a total transaction of $388,672.00. Following the completion of the sale, the chief executive officer now directly owns 150,731 shares in the company, valued at approximately $18,307,787.26. The trade was 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 related news, COO Peter S. Norgeot, Jr. sold 11,472 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $115.16, for a total value of $1,321,115.52. Following the transaction, the chief operating officer now owns 37,888 shares of the company’s stock, valued at approximately $4,363,182.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Andrew S. Marsh sold 3,200 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $121.46, for a total transaction of $388,672.00. Following the sale, the chief executive officer now directly owns 150,731 shares of the company’s stock, valued at approximately $18,307,787.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,810 shares of company stock worth $6,140,626. 0.39% of the stock is owned by insiders.

Institutional Investors Weigh In On Entergy

A number of hedge funds have recently modified their holdings of the business. Iron Horse Wealth Management LLC bought a new stake in Entergy during the second quarter valued at about $25,000. Heritage Wealth Advisors raised its stake in Entergy by 2,172.7% during the 1st quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 239 shares during the period. Cetera Trust Company N.A purchased a new position in Entergy during the third quarter valued at approximately $29,000. Fortitude Family Office LLC boosted its position in shares of Entergy by 423.8% in the third quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 178 shares during the period. Finally, American National Bank increased its stake in shares of Entergy by 93.7% in the second 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. Institutional investors own 88.07% of the company’s stock.

Entergy Stock Down 6.5 %

The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.62 and a current ratio of 0.94. The company’s 50-day moving average price is $129.72 and its 200 day moving average price is $117.12. The stock has a market capitalization of $30.96 billion, a P/E ratio of 17.64, a P/E/G ratio of 2.54 and a beta of 0.74.

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.