Entergy (NYSE:ETR) Reaches New 52-Week High – What’s Next?

Shares of Entergy Corporation (NYSE:ETR) reached a new 52-week high on Friday . The stock 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 Analysts Forecast Growth

Several equities research analysts have issued reports on ETR shares. UBS Group increased their price target on Entergy from $72.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Mizuho raised their target price on shares of Entergy from $69.00 to $82.50 and gave the stock an “outperform” rating in a report on Monday, November 4th. BMO Capital Markets cut their price target on shares of Entergy from $83.00 to $79.50 and set an “outperform” rating on the stock in a research note on Monday, November 18th. LADENBURG THALM/SH SH raised shares of Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price objective for the company in a research report on Thursday, January 30th. Finally, Scotiabank cut their price objective on shares of Entergy from $165.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 7th. Five 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 stock. According to data from MarketBeat, Entergy currently has a consensus rating of “Moderate Buy” and an average target price of $79.81.

Entergy Trading Down 0.7 %

The business has a 50-day moving average of $78.32 and a 200-day moving average of $70.56. 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 firm has a market cap of $35.44 billion, a price-to-earnings ratio of 20.13, a P/E/G ratio of 2.53 and a beta of 0.72.

Entergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Monday, February 10th. Entergy’s payout ratio is presently 58.47%.

Insider Activity at Entergy

In other news, insider Deanna D. Rodriguez sold 6,088 shares of Entergy stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $73.94, for a total value of $450,146.72. Following the completion of the transaction, the insider now owns 3,952 shares of the company’s stock, valued at $292,210.88. This trade represents a 60.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.39% of the stock is owned by company insiders.

Institutional Investors Weigh In On Entergy

Hedge funds have recently bought and sold shares of the company. OneDigital Investment Advisors LLC lifted its position in shares of Entergy by 2.1% in the third quarter. OneDigital Investment Advisors LLC now owns 3,427 shares of the utilities provider’s stock valued at $451,000 after buying an additional 69 shares during the last quarter. Acropolis Investment Management LLC lifted its holdings in Entergy by 0.8% during the 3rd quarter. Acropolis Investment Management LLC now owns 8,836 shares of the utilities provider’s stock valued at $1,163,000 after purchasing an additional 69 shares during the last quarter. Great Valley Advisor Group Inc. boosted its position in Entergy by 0.9% during the third quarter. Great Valley Advisor Group Inc. now owns 8,087 shares of the utilities provider’s stock worth $1,065,000 after purchasing an additional 74 shares during the period. Prossimo Advisors LLC increased its holdings in shares of Entergy by 1.5% in the third quarter. Prossimo Advisors LLC now owns 5,971 shares of the utilities provider’s stock valued at $786,000 after purchasing an additional 90 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its position in shares of Entergy by 1.3% in the third quarter. Brown Brothers Harriman & Co. now owns 7,233 shares of the utilities provider’s stock valued at $952,000 after purchasing an additional 91 shares during the period. 88.07% of the stock is currently 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.