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

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

Entergy Trading Up 0.2 %

Shares of ETR stock opened at $151.64 on Thursday. The firm has a market capitalization of $32.51 billion, a P/E ratio of 18.47, a P/E/G ratio of 2.56 and a beta of 0.71. Entergy has a twelve month low of $96.15 and a twelve month high of $158.07. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 1.77. The stock’s fifty day simple moving average is $141.76 and its 200 day simple moving average is $123.93.

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

Entergy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Wednesday, November 13th were given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend was Wednesday, November 13th. This is a positive change from Entergy’s previous quarterly dividend of $1.13. Entergy’s payout ratio is 58.47%.

Analysts Set New Price Targets

A number of research firms have commented on ETR. BMO Capital Markets reduced their price target on Entergy from $166.00 to $159.00 and set an “outperform” rating on the stock in a research report on Monday, November 18th. StockNews.com upgraded Entergy from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Wells Fargo & Company upped their price target on Entergy from $137.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Mizuho upped their price target on Entergy from $138.00 to $165.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Finally, Scotiabank boosted their price objective on Entergy from $119.00 to $144.00 and gave the company a “sector perform” rating in a research note on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $153.19.

Insider Buying and Selling

In other news, insider Eliecer Viamontes sold 200 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $147.00, for a total value of $29,400.00. Following the completion of the sale, the insider now directly owns 4,173 shares of the company’s stock, valued at $613,431. This represents a 4.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Haley Fisackerly sold 4,134 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $149.03, for a total value of $616,090.02. Following the completion of the sale, the insider now directly owns 2,016 shares of the company’s stock, valued at approximately $300,444.48. This trade represents a 67.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,506 shares of company stock valued at $2,073,670. 0.39% of the stock is owned by company insiders.

Institutional Trading of Entergy

Several institutional investors and hedge funds have recently modified their holdings of ETR. Ameriprise Financial Inc. raised its stake in shares of Entergy by 47.1% in the second quarter. Ameriprise Financial Inc. now owns 6,479,044 shares of the utilities provider’s stock worth $693,260,000 after purchasing an additional 2,075,776 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Entergy by 53.0% in the third quarter. Franklin Resources Inc. now owns 5,718,859 shares of the utilities provider’s stock valued at $754,318,000 after acquiring an additional 1,981,611 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Entergy by 185.5% in the second quarter. Millennium Management LLC now owns 1,876,672 shares of the utilities provider’s stock valued at $200,804,000 after acquiring an additional 1,219,419 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Entergy by 12.4% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,926,492 shares of the utilities provider’s stock valued at $741,135,000 after acquiring an additional 763,834 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its holdings in shares of Entergy by 89.2% in the second quarter. Panagora Asset Management Inc. now owns 1,073,603 shares of the utilities provider’s stock valued at $114,876,000 after acquiring an additional 506,239 shares in the last quarter. 88.07% of the stock is owned by hedge funds and other 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.