Several other brokerages have also recently commented on ETR. ValuEngine raised Entergy Corporation from a hold rating to a buy rating in a research report on Monday, August 7th. J P Morgan Chase & Co raised their target price on Entergy Corporation from $83.00 to $84.00 and gave the stock a neutral rating in a research report on Thursday, October 12th. Bank of America Corporation initiated coverage on Entergy Corporation in a research report on Tuesday, October 24th. They issued a neutral rating and a $86.00 target price for the company. Wells Fargo & Company reaffirmed an outperform rating and issued a $96.00 target price (up previously from $90.00) on shares of Entergy Corporation in a research report on Wednesday, October 25th. Finally, Morgan Stanley raised their target price on Entergy Corporation from $82.00 to $84.00 and gave the stock an underweight rating in a research report on Friday, September 8th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $82.42.
Shares of Entergy Corporation (NYSE ETR) traded up $0.61 during trading on Friday, hitting $86.51. The stock had a trading volume of 1,215,832 shares, compared to its average volume of 1,209,255. The firm has a market capitalization of $15,430.00, a PE ratio of 12.93, a PEG ratio of 1.80 and a beta of 0.57. The company has a current ratio of 0.78, a quick ratio of 0.58 and a debt-to-equity ratio of 1.61. Entergy Corporation has a 1-year low of $67.40 and a 1-year high of $87.95.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Thursday, November 9th will be given a dividend of $0.89 per share. This is a boost from Entergy Corporation’s previous quarterly dividend of $0.87. The ex-dividend date is Wednesday, November 8th. This represents a $3.56 dividend on an annualized basis and a yield of 4.12%. Entergy Corporation’s dividend payout ratio (DPR) is presently -72.06%.
In other Entergy Corporation news, insider Charles L. Rice, Jr. sold 9,234 shares of the firm’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $86.24, for a total transaction of $796,340.16. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Marcus V. Brown sold 3,000 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $86.42, for a total value of $259,260.00. Following the transaction, the executive vice president now owns 22,264 shares in the company, valued at $1,924,054.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,812 shares of company stock valued at $4,986,472. Insiders own 0.24% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of ETR. Franklin Resources Inc. raised its holdings in Entergy Corporation by 43.9% during the second quarter. Franklin Resources Inc. now owns 1,888,643 shares of the utilities provider’s stock valued at $144,991,000 after buying an additional 576,426 shares in the last quarter. AJO LP raised its holdings in Entergy Corporation by 16.0% during the second quarter. AJO LP now owns 3,518,543 shares of the utilities provider’s stock valued at $270,119,000 after buying an additional 485,602 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Entergy Corporation by 99.4% during the second quarter. Principal Financial Group Inc. now owns 902,639 shares of the utilities provider’s stock valued at $69,296,000 after buying an additional 449,986 shares in the last quarter. Parametric Portfolio Associates LLC raised its holdings in Entergy Corporation by 71.1% during the second quarter. Parametric Portfolio Associates LLC now owns 973,379 shares of the utilities provider’s stock valued at $74,726,000 after buying an additional 404,399 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in Entergy Corporation by 283.2% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 326,226 shares of the utilities provider’s stock valued at $25,015,000 after buying an additional 241,100 shares in the last quarter. Institutional investors own 82.91% of the company’s stock.
About Entergy Corporation
Entergy Corporation is a holding company. The Company is an integrated energy company engaged in electric power production and retail electric distribution operations. The Company operates through two business segments: Utility and Entergy Wholesale Commodities. The Utility segment includes the generation, transmission, distribution and sale of electric power to retail and wholesale customers in areas of Arkansas, Mississippi, Texas and Louisiana, including the City of New Orleans and operates a natural gas distribution business.
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