Entergy (NYSE:ETR) Reaches New 1-Year High - Here's What Happened

Key Points

• Entergy Corporation shares reached a new 52-week high of $92.58, with analysts maintaining optimistic ratings, including a price target increase by JPMorgan Chase to $103.00.
• The company reported earnings of $1.05 per share in its last quarterly earnings, surpassing analysts' expectations, but revenue of $3.02 billion fell short of expectations.
• Entergy has declared a quarterly dividend of $0.60, with an annualized yield of 2.6%, and a notable 88.07% of its stock is owned by institutional investors.

Entergy Corporation (NYSE:ETR - Get Free Report) shares reached a new 52-week high on Monday . The company traded as high as $92.58 and last traded at $91.94, with a volume of 58535 shares trading hands. The stock had previously closed at $92.25.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on Entergy from $102.00 to $103.00 and gave the company an "overweight" rating in a report on Thursday, August 21st. Raymond James Financial began coverage on shares of Entergy in a research note on Friday, June 13th. They set a "market perform" rating on the stock. Jefferies Financial Group began coverage on Entergy in a report on Thursday, September 4th. They set a "buy" rating and a $109.00 target price on the stock. Mizuho set a $97.00 target price on Entergy and gave the stock an "outperform" rating in a report on Thursday, July 31st. Finally, KeyCorp reissued an "overweight" rating and set a $96.00 target price (up previously from $88.00) on shares of Entergy in a report on Thursday, July 31st. Eleven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Entergy has an average rating of "Moderate Buy" and a consensus price target of $89.80.

Entergy Trading Up 1.1%

The firm has a market cap of $41.64 billion, a price-to-earnings ratio of 23.25, a PEG ratio of 2.51 and a beta of 0.61. The company has a 50-day moving average price of $89.14 and a 200 day moving average price of $84.97. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.73.

Entergy (NYSE:ETR - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.14. Entergy had a net margin of 14.35% and a return on equity of 11.52%. The business had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.11 billion. During the same period in the prior year, the business posted $1.92 earnings per share. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. As a group, research analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 13th were paid a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.6%. Entergy's dividend payout ratio is 59.85%.

Insider Buying and Selling at Entergy

In other news, insider Haley Fisackerly sold 4,463 shares of the company's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $90.50, for a total value of $403,901.50. Following the transaction, the insider directly owned 3,318 shares of the company's stock, valued at approximately $300,279. This represents a 57.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.47% of the company's stock.

Institutional Investors Weigh In On Entergy

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Entergy by 3.0% in the second quarter. Vanguard Group Inc. now owns 56,459,668 shares of the utilities provider's stock worth $4,692,928,000 after purchasing an additional 1,630,674 shares in the last quarter. State Street Corp boosted its holdings in Entergy by 4.5% in the second quarter. State Street Corp now owns 22,920,881 shares of the utilities provider's stock worth $1,905,184,000 after purchasing an additional 981,750 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Entergy by 3.6% in the second quarter. Ameriprise Financial Inc. now owns 13,652,982 shares of the utilities provider's stock worth $1,134,850,000 after purchasing an additional 479,093 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Entergy by 4.7% in the second quarter. Geode Capital Management LLC now owns 11,242,611 shares of the utilities provider's stock worth $930,541,000 after purchasing an additional 505,344 shares in the last quarter. Finally, Boston Partners boosted its holdings in Entergy by 114.9% in the second quarter. Boston Partners now owns 6,940,628 shares of the utilities provider's stock worth $578,531,000 after purchasing an additional 3,710,814 shares in the last quarter. 88.07% of the stock is currently owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.