Entergy Corporation (NYSE:ETR) Insider Unloads
Boston, MA 06/06/2014 (wallstreetpr) – Insider Hugh Mcdonald, the CEO, sold about 10.544K shares of the company on the open market transaction. Total amount of the shares are valued at $788K with an average price of $74.80 per share. Hugh now holds 5.986K shares of the company valued at $448K. Due to this event the shares of Entergy traded at 0.31% less on the next day. Shares were priced at $74.38, and approximately 2.8 million shares traded hands.
Under Recovering the Costs
Due to soaring natural gas prices the Mississippi subsidiary of Entergy Corporation (NYSE:ETR) will increase the prices to under recover the fuel costs. This would mean the customers in Mississippi would pay about 5% more in bills. The under recovery of fuel costs is done at zero profit to the company. However, the residential rates of Entergy Mississippi will remain below the national average of $117.60. In any case, analysis from the past show that the prices are well below that was charged in the year 2008.
Rebuilding from reins of EF4 Tornado
About 500 Entergy Corporation (NYSE:ETR)’s employees and contract workers are engaged to rebuild the reins caused by five tornadoes that toured through Arkansas on April 7,201. One of the five tornadoes was rated EF4, Nation’s first ever. Power has been restored to existing customers, and massive operations are on to rebuild several transmission and distribution facilities such a Mayflower substation. All efforts are being made to maintain facilities so that the transmission grid that supplies power to Central Arkansas is as reliable as before the storm.
Ready to face the Storms
To enable the staff to deal with the upcoming hurricane season, the company recently performed a mock drill. This was done by tracking fictional hurricane and its impact on the services offered by Entergy Corporation (NYSE:ETR). Though a practice drill, all safety norms were put in place as is common practice. Entergy’s entire storm team now adheres to the federal and the state Incident Command Structure for disasters that clearly defines their roles and responsibilities.
Hosted 2014 Analyst Day
Entergy Corporation (NYSE:ETR) hosted 2014 Analyst Day in New York City on 5 June, 2014. The event featured presentations from the CEO and the Chairman of Entergy. The Entergy Investor Relations mobile web app can be downloaded to view analyst day presentations. Presentation slides also are made available on the Investor Relations link on corporate website.
