Entergy (NYSE:ETR) Hits New 12-Month High Following Analyst Upgrade

15 Oct 2024, 12:24 by Jessica Moore · The Cerbat Gem

Shares of Entergy Co. (NYSE:ETR – Get Free Report) reached a new 52-week high during mid-day trading on Tuesday after BMO Capital Markets raised their price target on the stock from $131.00 to $140.00. BMO Capital Markets currently has an outperform rating on the stock. Entergy traded as high as $134.63 and last traded at $134.18, with a volume of 153383 shares. The stock had previously closed at $131.90.

Several other equities research analysts also recently weighed in on ETR. Argus raised shares of Entergy to a “strong-buy” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. upped their price target on Entergy from $131.00 to $141.00 and gave the company an “overweight” rating in a report on Monday, August 12th. KeyCorp upped their price objective on Entergy from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Morgan Stanley upped their price target on shares of Entergy from $109.00 to $115.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th. Finally, Barclays decreased their price objective on shares of Entergy from $138.00 to $137.00 and set an “overweight” rating on the stock in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Entergy currently has an average rating of “Moderate Buy” and an average target price of $130.96.

Check Out Our Latest Analysis on Entergy

Insider Buying and Selling

In other Entergy news, CEO Andrew S. Marsh sold 3,200 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $121.46, for a total transaction of $388,672.00. Following the sale, the chief executive officer now owns 150,731 shares of the company’s stock, valued at approximately $18,307,787.26. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Peter S. Norgeot, Jr. sold 7,922 shares of the stock in a transaction 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 sale, the chief operating officer now owns 34,993 shares in the company, valued at $4,549,090. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew S. Marsh sold 3,200 shares of the company’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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,810 shares of company stock valued at $6,140,626 over the last 90 days. Corporate insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On Entergy

Several institutional investors and hedge funds have recently modified their holdings of ETR. Iron Horse Wealth Management LLC acquired a new position in shares of Entergy in the 2nd quarter valued at $25,000. Heritage Wealth Advisors raised its position in shares of Entergy by 2,172.7% in the first 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. American National Bank boosted its stake in shares of Entergy by 93.7% during the 2nd quarter. American National Bank now owns 277 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 134 shares in the last quarter. TruNorth Capital Management LLC acquired a new stake in shares of Entergy during the 2nd quarter valued at about $32,000. Finally, Rothschild Investment LLC purchased a new position in shares of Entergy in the 2nd quarter valued at about $34,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

Entergy Stock Up 1.6 %

The company has a market cap of $28.60 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 2.46 and a beta of 0.74. The business has a fifty day moving average of $124.27 and a two-hundred day moving average of $114.06. The company has a current ratio of 0.94, a quick ratio of 0.62 and a debt-to-equity ratio of 1.81.

Entergy (NYSE:ETR – Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.92 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $2.98 billion. During the same period in the previous year, the business earned $1.84 earnings per share. As a group, equities analysts anticipate that Entergy Co. will post 7.22 EPS for the current fiscal year.

Entergy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 13th were issued a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend was Tuesday, August 13th. Entergy’s payout ratio is 45.34%.

About Entergy

(Get Free Report)