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

Entergy Corporation (NYSE:ETR) hit a new 52-week high on Tuesday . The stock traded as high as $98.95 and last traded at $98.50, with a volume of 115433 shares traded. The stock had previously closed at $98.15.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Royal Bank Of Canada restated an “outperform” rating and set a $112.00 price target on shares of Entergy in a research report on Friday, January 23rd. JPMorgan Chase & Co. decreased their price target on Entergy from $113.00 to $108.00 and set an “overweight” rating for the company in a research note on Thursday, December 11th. TD Cowen assumed coverage on shares of Entergy in a research note on Friday, January 9th. They set a “buy” rating and a $108.00 price objective on the stock. BMO Capital Markets reissued an “outperform” rating and set a $104.00 target price (up previously from $96.00) on shares of Entergy in a research note on Tuesday, October 14th. Finally, Siebert Williams Shank started coverage on shares of Entergy in a research note on Tuesday, January 20th. They set a “buy” rating and a $109.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Entergy currently has a consensus rating of “Moderate Buy” and an average target price of $104.83.

Entergy Trading Up 0.7%

The company has a current ratio of 0.71, a quick ratio of 0.48 and a debt-to-equity ratio of 1.62. The stock has a market cap of $44.15 billion, a price-to-earnings ratio of 24.40, a P/E/G ratio of 2.18 and a beta of 0.65. The company has a fifty day simple moving average of $94.08 and a 200-day simple moving average of $93.04.

Entergy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Monday, February 9th will be given a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 2.6%. The ex-dividend date is Monday, February 9th. Entergy’s payout ratio is presently 63.21%.

Insider Activity

In other Entergy news, Director Ralph Lewis Ropp bought 1,000 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The stock was acquired at an average price of $96.69 per share, with a total value of $96,690.00. Following the completion of the transaction, the director directly owned 1,050 shares in the company, valued at approximately $101,524.50. This represents a 2,000.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.47% of the stock is owned by insiders.

Institutional Investors Weigh In On Entergy

Institutional investors have recently bought and sold shares of the business. United Community Bank lifted its position in Entergy by 806.7% during the 4th quarter. United Community Bank now owns 272 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 242 shares during the last quarter. Washington Trust Advisors Inc. grew its holdings in Entergy by 119.4% in the 4th quarter. Washington Trust Advisors Inc. now owns 283 shares of the utilities provider’s stock valued at $26,000 after buying an additional 154 shares during the last quarter. Capital A Wealth Management LLC lifted its holdings in shares of Entergy by 5,466.7% during the second quarter. Capital A Wealth Management LLC now owns 334 shares of the utilities provider’s stock worth $28,000 after buying an additional 328 shares during the last quarter. GoalVest Advisory LLC boosted its position in shares of Entergy by 5,733.3% in the second quarter. GoalVest Advisory LLC now owns 350 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 344 shares during the period. Finally, Atlantic Union Bankshares Corp bought a new position in Entergy during the second quarter worth $30,000. 88.07% of the stock is currently owned by institutional investors and hedge funds.

About Entergy

Entergy Corporation (NYSE:ETR) is an integrated energy company headquartered in New Orleans, Louisiana, that generates, transmits and distributes electricity. The company’s operations combine regulated utility services with competitive power production, supplying retail electricity to residential, commercial and industrial customers while also participating in wholesale energy markets. Entergy’s generation fleet includes nuclear, natural gas, hydropower and other resources, and it operates a network of transmission and distribution assets to deliver power to end users.

Entergy conducts its regulated utility business through state-based operating subsidiaries that serve customers across parts of Arkansas, Louisiana, Mississippi and southeast Texas.