Entergy (NYSE:ETR) Reaches New 52-Week High on Analyst Upgrade

Key Points

• Entergy's shares reached a new 52-week high after Scotiabank upgraded the stock to a sector outperform rating with a price target of $105.00.
• Analyst ratings for Entergy are mostly positive, with thirteen analysts giving it a Buy rating and a consensus price target of $92.20.
• The company reported a quarterly earnings per share (EPS) of $1.05, which exceeded expectations, and declared a quarterly dividend of $0.60, reflecting a 2.5% yield.

Entergy Corporation (NYSE:ETR - Get Free Report) shares reached a new 52-week high on Monday after Scotiabank upgraded the stock from a sector perform rating to a sector outperform rating. Scotiabank now has a $105.00 price target on the stock. Entergy traded as high as $96.96 and last traded at $96.79, with a volume of 519619 shares changing hands. The stock had previously closed at $95.39.

A number of other equities research analysts also recently weighed in on ETR. Morgan Stanley reduced their price target on shares of Entergy from $86.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Thursday, September 25th. Jefferies Financial Group began coverage on shares of Entergy in a research note on Thursday, September 4th. They issued a "buy" rating and a $109.00 price target on the stock. Barclays reduced their price target on shares of Entergy from $91.00 to $87.00 and set an "overweight" rating on the stock in a research note on Thursday, July 10th. KeyCorp reiterated an "overweight" rating and issued a $96.00 price objective (up previously from $88.00) on shares of Entergy in a report on Thursday, July 31st. Finally, Raymond James Financial initiated coverage on shares of Entergy in a report on Friday, June 13th. They issued a "market perform" rating for the company. Thirteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $92.20.

Insider Activity at Entergy

In other news, insider Haley Fisackerly sold 4,463 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $90.50, for a total transaction of $403,901.50. Following the completion of the sale, the insider owned 3,318 shares of the company's stock, valued at $300,279. This trade represents a 57.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.47% of the stock is currently owned by company insiders.

Institutional Trading of Entergy

Several large investors have recently modified their holdings of ETR. Mattson Financial Services LLC grew its position in shares of Entergy by 100.0% during the 1st quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider's stock worth $26,000 after buying an additional 150 shares during the period. Atwood & Palmer Inc. grew its position in shares of Entergy by 135.7% during the 2nd quarter. Atwood & Palmer Inc. now owns 330 shares of the utilities provider's stock worth $27,000 after buying an additional 190 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Entergy during the 1st quarter worth approximately $28,000. Capital A Wealth Management LLC grew its position in shares of Entergy by 5,466.7% during the 2nd quarter. Capital A Wealth Management LLC now owns 334 shares of the utilities provider's stock worth $28,000 after buying an additional 328 shares during the period. Finally, GoalVest Advisory LLC grew its position in shares of Entergy by 5,733.3% during the 2nd quarter. GoalVest Advisory LLC now owns 350 shares of the utilities provider's stock worth $29,000 after buying an additional 344 shares during the period. Institutional investors and hedge funds own 88.07% of the company's stock.

Entergy Trading Up 1.8%

The company has a market cap of $43.36 billion, a price-to-earnings ratio of 24.17, a P/E/G ratio of 2.60 and a beta of 0.62. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. The firm's 50-day moving average price is $89.72 and its 200 day moving average price is $85.29.

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 (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.11 billion. During the same quarter last year, the firm posted $1.92 EPS. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. As a group, equities analysts expect that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 13th were given a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $2.40 annualized dividend and a yield of 2.5%. Entergy's dividend payout ratio (DPR) is presently 59.85%.

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.

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