Entergy (NYSE:ETR) Sets New 1-Year High Following Dividend Announcement

Entergy Co. (NYSE:ETR)’s share price reached a new 52-week high during trading on Monday after the company announced a dividend. The company traded as high as $114.28 and last traded at $114.28, with a volume of 237136 shares. The stock had previously closed at $113.63.

The newly announced dividend which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 13th will be given a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 3.96%. Entergy’s payout ratio is 45.34%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. LADENBURG THALM/SH SH reiterated a “neutral” rating and set a $109.50 price objective (down previously from $117.00) on shares of Entergy in a research report on Wednesday, June 12th. Scotiabank reduced their price objective on Entergy from $111.00 to $104.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Mizuho lifted their price objective on Entergy from $107.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. BMO Capital Markets reduced their target price on Entergy from $120.00 to $117.00 and set an “outperform” rating on the stock in a research report on Monday, July 8th. Finally, Morgan Stanley reduced their target price on Entergy from $103.00 to $98.00 and set an “underweight” rating on the stock in a research report on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Entergy has an average rating of “Moderate Buy” and an average target price of $113.42.

Entergy Trading Up 0.5 %

The company has a 50-day moving average price of $108.48 and a 200-day moving average price of $105.21. The firm has a market capitalization of $24.39 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 2.15 and a beta of 0.71. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.45 and a current ratio of 0.69.

Insider Transactions at Entergy

In other news, insider Haley Fisackerly sold 1,500 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $110.23, for a total transaction of $165,345.00. Following the completion of the transaction, the insider now directly owns 2,479 shares of the company’s stock, valued at approximately $273,260.17. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CAO Reginald T. Jackson sold 9,229 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $108.71, for a total value of $1,003,284.59. Following the completion of the sale, the chief accounting officer now directly owns 2,166 shares of the company’s stock, valued at approximately $235,465.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Haley Fisackerly sold 1,500 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $110.23, for a total value of $165,345.00. Following the completion of the sale, the insider now directly owns 2,479 shares of the company’s stock, valued at $273,260.17. The disclosure for this sale can be found here. Insiders own 0.39% of the company’s stock.

Institutional Trading of Entergy

Institutional investors and hedge funds have recently made changes to their positions in the company. Tidemark LLC purchased a new stake in Entergy during the 4th quarter valued at approximately $25,000. Iron Horse Wealth Management LLC purchased a new stake in Entergy during the 2nd quarter valued at approximately $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 valued at $26,000 after acquiring an additional 239 shares during the last quarter. American National Bank raised 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 acquiring an additional 134 shares during the last quarter. Finally, TruNorth Capital Management LLC purchased a new stake in Entergy during the 2nd quarter valued at approximately $32,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

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.