Entergy Stock to Split on Friday, December 13th (NYSE:ETR)

Entergy Corporation (NYSE:ETR)’s stock is going to split on the morning of Friday, December 13th. The 2-1 split was announced on Thursday, October 31st. The newly issued shares will be distributed to shareholders after the closing bell on Thursday, December 12th.

Entergy Stock Up 2.3 %

Shares of NYSE ETR opened at $155.94 on Wednesday. The business has a 50-day moving average of $138.76 and a 200-day moving average of $122.25. The firm has a market capitalization of $33.43 billion, a price-to-earnings ratio of 18.99, a PEG ratio of 2.52 and a beta of 0.71. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 1.77. Entergy has a 12 month low of $96.15 and a 12 month high of $156.85.

Entergy (NYSE:ETR) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $2.99 EPS for the quarter, topping analysts’ consensus estimates of $2.91 by $0.08. Entergy had a net margin of 14.83% and a return on equity of 9.53%. The business had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.46 billion. During the same quarter in the previous year, the company earned $3.27 EPS. Sell-side analysts expect that Entergy will post 7.22 earnings per share for the current fiscal year.

Entergy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 13th will be paid a dividend of $1.20 per share. The ex-dividend date is Wednesday, November 13th. This represents a $4.80 annualized dividend and a yield of 3.08%. This is a positive change from Entergy’s previous quarterly dividend of $1.13. Entergy’s payout ratio is 58.47%.

Analyst Ratings Changes

A number of research firms recently weighed in on ETR. Guggenheim boosted their target price on Entergy from $145.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. boosted their price objective on shares of Entergy from $131.00 to $141.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Bank of America cut shares of Entergy from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $138.00 to $154.00 in a research report on Monday, November 4th. Royal Bank of Canada upped their price target on shares of Entergy from $137.00 to $140.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Morgan Stanley upgraded Entergy from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $116.00 to $150.00 in a report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $150.42.

Insider Transactions at Entergy

In other Entergy news, insider Eliecer Viamontes sold 200 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $147.00, for a total transaction of $29,400.00. Following the transaction, the insider now owns 4,173 shares in the company, valued at approximately $613,431. This represents a 4.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew S. Marsh sold 19,200 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $120.35, for a total transaction of $2,310,720.00. Following the completion of the transaction, the chief executive officer now owns 150,731 shares of the company’s stock, valued at approximately $18,140,475.85. The trade was a 11.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,872 shares of company stock worth $5,004,310. 0.39% of the stock is currently owned by insiders.

Institutional Trading of Entergy

A number of institutional investors and hedge funds have recently modified their holdings of ETR. OneDigital Investment Advisors LLC boosted its holdings in shares of Entergy by 2.1% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 3,427 shares of the utilities provider’s stock valued at $451,000 after acquiring an additional 69 shares during the last quarter. Acropolis Investment Management LLC boosted its holdings in Entergy by 0.8% in the third quarter. Acropolis Investment Management LLC now owns 8,836 shares of the utilities provider’s stock worth $1,163,000 after purchasing an additional 69 shares during the last quarter. Great Valley Advisor Group Inc. grew its position in Entergy by 0.9% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 8,087 shares of the utilities provider’s stock worth $1,065,000 after purchasing an additional 74 shares during the period. Bank & Trust Co raised its stake in Entergy by 12.8% during the 3rd quarter. Bank & Trust Co now owns 795 shares of the utilities provider’s stock valued at $105,000 after buying an additional 90 shares during the last quarter. Finally, Prossimo Advisors LLC lifted its holdings in shares of Entergy by 1.5% during the 3rd quarter. Prossimo Advisors LLC now owns 5,971 shares of the utilities provider’s stock valued at $786,000 after buying an additional 90 shares during the period. Institutional investors own 88.07% of the company’s stock.

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.