Entergy (NYSE:ETR) Sets New 12-Month High – Time to Buy?

Entergy Corporation (NYSE:ETR)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $82.92 and last traded at $82.96, with a volume of 1050 shares. The stock had previously closed at $81.99.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ETR shares. Mizuho upped their price objective on shares of Entergy from $69.00 to $82.50 and gave the company an “outperform” rating in a research report on Monday, November 4th. StockNews.com upgraded Entergy from a “sell” rating to a “hold” rating in a report on Sunday, December 29th. Guggenheim lifted their price target on shares of Entergy from $72.50 to $82.50 and gave the stock a “buy” rating in a research note on Friday, November 1st. KeyCorp lowered shares of Entergy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Finally, Royal Bank of Canada upped their target price on shares of Entergy from $68.50 to $70.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $77.37.

Entergy Trading Up 2.1 %

The firm has a market cap of $35.91 billion, a P/E ratio of 20.40, a P/E/G ratio of 2.53 and a beta of 0.71. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.59 and a current ratio of 0.89. The firm has a fifty day moving average of $76.11 and a 200-day moving average of $67.16.

Entergy (NYSE:ETR) last announced its quarterly earnings results on Thursday, October 31st. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.04. Entergy had a net margin of 14.83% and a return on equity of 9.53%. The company had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter in the previous year, the company posted $1.64 earnings per share. Equities research analysts forecast that Entergy Corporation will post 3.59 earnings per share for the current year.

Entergy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Wednesday, November 13th were paid a $0.60 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $2.40 annualized dividend and a dividend yield of 2.87%. Entergy’s payout ratio is currently 58.47%.

Insider Transactions at Entergy

In related news, insider Haley Fisackerly sold 8,268 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $74.52, for a total value of $616,090.02. Following the completion of the transaction, the insider now owns 4,032 shares in the company, valued at $300,444.48. This represents a 67.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Deanna D. Rodriguez sold 6,088 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $73.94, for a total transaction of $450,146.72. Following the transaction, the insider now directly owns 3,952 shares in the company, valued at approximately $292,210.88. The trade was a 60.64 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,756 shares of company stock worth $1,095,637. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Entergy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ETR. Legacy Investment Solutions LLC bought a new position in Entergy during the third quarter valued at about $27,000. Cetera Trust Company N.A acquired a new stake in Entergy in the 3rd quarter valued at about $29,000. Fortitude Family Office LLC boosted its position in shares of Entergy by 423.8% during the 3rd quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 178 shares in the last quarter. IFS Advisors LLC acquired a new position in shares of Entergy in the 4th quarter worth approximately $30,000. Finally, Ulland Investment Advisors LLC raised its holdings in shares of Entergy by 100.0% in the 4th quarter. Ulland Investment Advisors LLC now owns 400 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 200 shares in the last quarter. 88.07% of the stock is 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.