Entergy (NYSE:ETR) had its target price boosted by Morgan Stanley from $86.00 to $88.00 in a research note released on Wednesday morning. The brokerage currently has an equal weight rating on the utilities provider’s stock.
ETR has been the subject of a number of other research reports. Mizuho reaffirmed a hold rating and set a $83.00 price target on shares of Entergy in a research report on Friday, October 27th. Citigroup raised Entergy from a neutral rating to a buy rating and set a $91.00 price objective for the company in a report on Friday, October 13th. J P Morgan Chase & Co increased their price objective on Entergy from $83.00 to $84.00 and gave the company a neutral rating in a report on Thursday, October 12th. BidaskClub raised Entergy from a hold rating to a buy rating in a report on Saturday, August 26th. Finally, TheStreet raised Entergy from a c rating to a b- rating in a report on Friday, October 27th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $83.17.
Entergy (NYSE:ETR) traded up $0.06 during trading hours on Wednesday, reaching $83.32. The company’s stock had a trading volume of 1,228,500 shares, compared to its average volume of 1,211,835. Entergy has a 52-week low of $69.63 and a 52-week high of $87.95. The company has a current ratio of 0.78, a quick ratio of 0.58 and a debt-to-equity ratio of 1.61. The firm has a market cap of $15,004.13, a P/E ratio of 12.31, a P/E/G ratio of 1.72 and a beta of 0.55.
Entergy (NYSE:ETR) last released its quarterly earnings results on Tuesday, October 24th. The utilities provider reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.11. Entergy had a positive return on equity of 14.76% and a negative net margin of 7.82%. The firm had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the firm posted $2.31 EPS. research analysts forecast that Entergy will post 6.91 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Thursday, November 9th were paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date was Wednesday, November 8th. This is a boost from Entergy’s previous quarterly dividend of $0.87. Entergy’s dividend payout ratio is -72.06%.
In related news, insider Sallie T. Rainer sold 6,300 shares of the stock in a transaction on Friday, October 13th. The stock was sold at an average price of $82.00, for a total value of $516,600.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Haley Fisackerly sold 3,934 shares of the stock in a transaction on Monday, October 16th. The shares were sold at an average price of $82.49, for a total value of $324,515.66. Following the completion of the sale, the insider now owns 4,367 shares in the company, valued at approximately $360,233.83. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,812 shares of company stock worth $4,907,522. 0.24% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. increased its position in Entergy by 43.9% during the 2nd quarter. Franklin Resources Inc. now owns 1,888,643 shares of the utilities provider’s stock worth $144,991,000 after buying an additional 576,426 shares during the period. AJO LP increased its position in Entergy by 16.0% during the 2nd quarter. AJO LP now owns 3,518,543 shares of the utilities provider’s stock worth $270,119,000 after buying an additional 485,602 shares during the period. Principal Financial Group Inc. increased its position in Entergy by 99.4% during the 2nd quarter. Principal Financial Group Inc. now owns 902,639 shares of the utilities provider’s stock worth $69,296,000 after buying an additional 449,986 shares during the period. Parametric Portfolio Associates LLC increased its position in Entergy by 71.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 973,379 shares of the utilities provider’s stock worth $74,726,000 after buying an additional 404,399 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in Entergy by 283.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 326,226 shares of the utilities provider’s stock worth $25,015,000 after buying an additional 241,100 shares during the period. Institutional investors and hedge funds own 82.95% of the company’s stock.
Entergy Company Profile
Entergy Corporation is a holding company. The Company is an integrated energy company engaged in electric power production and retail electric distribution operations. The Company 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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