Entergy Corp. (ETR) Shares Gap Up to $79.27
Shares of Entergy Corp. (NYSE:ETR) gapped up prior to trading on Friday . The stock had previously closed at $79.26, but opened at $79.27. Entergy Corp. shares last traded at $79.62, with a volume of 432,841 shares trading hands.
A number of brokerages have recently commented on ETR. Citigroup Inc. upped their price target on Entergy Corp. from $72.00 to $83.00 and gave the company a “neutral” rating in a research note on Wednesday, July 20th. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $81.00 price target on shares of Entergy Corp. in a research note on Friday, June 10th. Jefferies Group reaffirmed a “hold” rating and issued a $79.00 price target on shares of Entergy Corp. in a research note on Wednesday, April 27th. BMO Capital Markets reaffirmed a “hold” rating on shares of Entergy Corp. in a research note on Wednesday, April 27th. Finally, Bank of America Corp. reaffirmed a “hold” rating on shares of Entergy Corp. in a research note on Friday, June 10th. Eleven equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Entergy Corp. currently has an average rating of “Hold” and an average target price of $78.95.
The stock has a market capitalization of $14.23 billion and a PE ratio of 82.15. The firm has a 50-day moving average price of $80.31 and a 200-day moving average price of $76.68.
Entergy Corp. (NYSE:ETR) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $3.11 EPS for the quarter, beating the Zacks’ consensus estimate of $1.05 by $2.06. During the same period last year, the business earned $0.83 EPS. On average, analysts expect that Entergy Corp. will post $6.51 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Thursday, August 11th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date of this dividend is Tuesday, August 9th.
In other news, Director Alexis M. Herman sold 1,091 shares of Entergy Corp. stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $76.24, for a total transaction of $83,177.84. Following the sale, the director now directly owns 1,227 shares of the company’s stock, valued at $93,546.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Several hedge funds have recently made changes to their positions in the stock. American International Group Inc. raised its stake in shares of Entergy Corp. by 1.0% in the fourth quarter. American International Group Inc. now owns 68,067 shares of the company’s stock worth $4,654,000 after buying an additional 672 shares during the last quarter. BlackRock Advisors LLC raised its position in Entergy Corp. by 57.7% in the fourth quarter. BlackRock Advisors LLC now owns 206,557 shares of the company’s stock worth $14,120,000 after buying an additional 75,556 shares in the last quarter. Utah Retirement Systems raised its position in Entergy Corp. by 0.3% in the fourth quarter. Utah Retirement Systems now owns 32,226 shares of the company’s stock worth $2,203,000 after buying an additional 100 shares in the last quarter. I.G. Investment Management LTD. raised its position in Entergy Corp. by 57.3% in the fourth quarter. I.G. Investment Management LTD. now owns 49,729 shares of the company’s stock worth $3,399,000 after buying an additional 18,116 shares in the last quarter. Finally, Advantus Capital Management Inc raised its position in Entergy Corp. by 1.6% in the fourth quarter. Advantus Capital Management Inc now owns 16,955 shares of the company’s stock worth $1,159,000 after buying an additional 268 shares in the last quarter.
Entergy Corporation is a holding company. The Company is an integrated energy company engaged in electric power production and retail electric distribution operations. It 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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