Entergy Corporation (ETR) to Issue Quarterly Dividend of $0.68 on December 1st

Entergy Corporation (NYSE:ETR) announced a quarterly dividend on Friday, October 30th. Shareholders of record on Friday, November 13th will be given a dividend of $0.68 per share by the utilities provider on Tuesday, December 1st. This represents a $2.72 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, November 13th. This is a 6.3% increase from Entergy’s previous quarterly dividend of $0.64.

Entergy has raised its dividend by an average of 0.1% per year over the last three years and has raised its dividend every year for the last 10 years. Entergy has a dividend payout ratio of 62.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Entergy to earn $5.10 per share next year, which means the company should continue to be able to cover its $2.72 annual dividend with an expected future payout ratio of 53.3%.

Entergy Stock Performance

NYSE ETR traded down $0.15 during trading on Wednesday, reaching $111.56. The company’s stock had a trading volume of 115,245 shares, compared to its average volume of 2,999,043. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.93 and a current ratio of 1.18. The firm has a market cap of $53.31 billion, a price-to-earnings ratio of 25.60, a P/E/G ratio of 2.50 and a beta of 0.44. The business’s fifty day moving average price is $105.00 and its 200-day moving average price is $107.85. Entergy has a twelve month low of $90.87 and a twelve month high of $118.44.

Entergy (NYSE:ETR) last issued its earnings results on Monday, November 2nd. The utilities provider reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.25. Entergy had a return on equity of 11.44% and a net margin of 14.63%. The business had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the prior year, the business posted $1.53 EPS. As a group, analysts anticipate that Entergy will post 4.41 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Laura Landreaux sold 5,600 shares of Entergy stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $106.20, for a total value of $594,720.00. Following the sale, the insider owned 22,589 shares of the company’s stock, valued at approximately $2,398,951.80. The trade was a 19.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On Entergy

Hedge funds have recently made changes to their positions in the stock. Bell Investment Advisors Inc purchased a new position in shares of Entergy during the second quarter valued at approximately $28,000. City State Bank raised its holdings in shares of Entergy by 439.6% during the third quarter. City State Bank now owns 259 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 211 shares in the last quarter. Pingora Partners LLC purchased a new position in shares of Entergy in the 2nd quarter valued at approximately $30,000. Bank of New Hampshire grew its stake in shares of Entergy by 303.0% in the 3rd quarter. Bank of New Hampshire now owns 266 shares of the utilities provider’s stock worth $26,000 after buying an additional 200 shares during the last quarter. Finally, Dynamic Wealth Strategies LLC purchased a new stake in Entergy during the 1st quarter valued at $30,000. 88.07% of the stock is currently owned by institutional investors.

About Entergy

Entergy Corporation is an investor-owned energy company headquartered in New Orleans. Its primary business is providing regulated electric utility service to residential, commercial and industrial customers. Through its utility subsidiaries, Entergy serves communities in Arkansas, Louisiana, Mississippi and Texas. Its operations include generating, transmitting and distributing electricity, with power produced from a mix of sources that includes nuclear energy. The company traces its corporate history to Middle South Utilities, which adopted the Entergy name in 1989.