Entergy (NYSE:ETR) Sets New 1-Year High – Still a Buy?

Shares of Entergy Co. (NYSE:ETR) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $136.02 and last traded at $135.44, with a volume of 63151 shares changing hands. The stock had previously closed at $135.28.

Wall Street Analyst Weigh In

Several research firms have recently commented on ETR. Royal Bank of Canada lifted their price target on shares of Entergy from $137.00 to $140.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Bank of America lifted their price objective on shares of Entergy from $135.00 to $138.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Barclays reduced their price objective on Entergy from $138.00 to $137.00 and set an “overweight” rating for the company in a research report on Monday, October 7th. Morgan Stanley raised their target price on Entergy from $109.00 to $115.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th. Finally, Wells Fargo & Company increased their price target on Entergy from $125.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $130.96.

Entergy Trading Down 0.2 %

The firm has a market capitalization of $28.82 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 2.46 and a beta of 0.74. The company has a quick ratio of 0.62, a current ratio of 0.94 and a debt-to-equity ratio of 1.81. The firm’s 50 day moving average is $125.66 and its 200 day moving average is $114.89.

Entergy (NYSE:ETR) last issued its earnings results on Thursday, August 1st. The utilities provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.16. Entergy had a return on equity of 10.10% and a net margin of 14.75%. The business had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same period in the previous year, the firm posted $1.84 EPS. Equities analysts forecast that Entergy Co. will post 7.22 earnings per share for the current year.

Entergy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 13th were issued a $1.13 dividend. This represents a $4.52 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend was Tuesday, August 13th. Entergy’s payout ratio is 45.34%.

Insider Transactions at Entergy

In related news, COO Peter S. Norgeot, Jr. sold 7,922 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $130.00, for a total value of $1,029,860.00. Following the completion of the transaction, the chief operating officer now owns 34,993 shares of the company’s stock, valued at approximately $4,549,090. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, COO Peter S. Norgeot, Jr. sold 7,922 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $130.00, for a total value of $1,029,860.00. Following the completion of the sale, the chief operating officer now directly owns 34,993 shares of the company’s stock, valued at $4,549,090. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew S. Marsh sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $120.03, for a total transaction of $72,018.00. Following the sale, the chief executive officer now owns 150,731 shares of the company’s stock, valued at approximately $18,092,241.93. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,810 shares of company stock valued at $6,140,626 over the last ninety days. Corporate insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On Entergy

Hedge funds have recently modified their holdings of the stock. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Entergy by 12.4% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,926,492 shares of the utilities provider’s stock valued at $741,135,000 after purchasing an additional 763,834 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Entergy by 47.1% in the second quarter. Ameriprise Financial Inc. now owns 6,479,044 shares of the utilities provider’s stock valued at $693,260,000 after acquiring an additional 2,075,776 shares during the last quarter. Capital International Investors grew its position in Entergy by 64.2% in the first quarter. Capital International Investors now owns 4,170,045 shares of the utilities provider’s stock worth $440,690,000 after acquiring an additional 1,630,057 shares in the last quarter. ClearBridge Investments Ltd increased its stake in shares of Entergy by 0.6% during the 2nd quarter. ClearBridge Investments Ltd now owns 3,137,110 shares of the utilities provider’s stock worth $335,671,000 after purchasing an additional 20,025 shares during the last quarter. Finally, Capital Research Global Investors raised its holdings in shares of Entergy by 22.5% during the 1st quarter. Capital Research Global Investors now owns 2,753,248 shares of the utilities provider’s stock valued at $290,963,000 after purchasing an additional 505,705 shares in the last quarter. 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.