Entergy (NYSE:ETR) Price Target Cut to $104.00

Entergy (NYSE:ETR) had its price target dropped by research analysts at Scotiabank from $111.00 to $104.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “sector perform” rating on the utilities provider’s stock. Scotiabank’s price objective points to a potential downside of 2.96% from the company’s current price.

A number of other equities research analysts also recently commented on ETR. Barclays decreased their target price on Entergy from $108.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Monday, April 15th. KeyCorp upped their price objective on Entergy from $108.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. BMO Capital Markets raised their target price on shares of Entergy from $110.00 to $113.00 and gave the company an “outperform” rating in a report on Monday, February 26th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $117.00 price target on shares of Entergy in a research note on Monday, February 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Entergy presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.45.

Entergy Trading Down 0.3 %

Shares of ETR opened at $107.17 on Monday. The firm has a market cap of $22.85 billion, a P/E ratio of 9.66, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.57 and a quick ratio of 0.32. Entergy has a 1 year low of $87.10 and a 1 year high of $109.53. The company has a 50 day simple moving average of $102.96 and a two-hundred day simple moving average of $100.48.

Entergy (NYSE:ETR) last issued its earnings results on Thursday, February 22nd. The utilities provider reported $0.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.52. The firm had revenue of $2.72 billion during the quarter, compared to analyst estimates of $3.27 billion. Entergy had a net margin of 19.41% and a return on equity of 10.54%. During the same quarter in the prior year, the business earned $0.51 earnings per share. On average, equities analysts expect that Entergy will post 7.22 earnings per share for the current fiscal year.

Insider Transactions at Entergy

In related news, EVP Marcus V. Brown sold 8,500 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $102.84, for a total transaction of $874,140.00. Following the transaction, the executive vice president now directly owns 9,911 shares in the company, valued at approximately $1,019,247.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Entergy news, insider Deanna D. Rodriguez sold 1,500 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $101.23, for a total value of $151,845.00. Following the sale, the insider now owns 3,442 shares in the company, valued at $348,433.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Marcus V. Brown sold 8,500 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $102.84, for a total transaction of $874,140.00. Following the sale, the executive vice president now directly owns 9,911 shares of the company’s stock, valued at $1,019,247.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,000 shares of company stock worth $1,226,685. 0.54% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. raised its position in Entergy by 6,000.0% during the 3rd quarter. Geneos Wealth Management Inc. now owns 427 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 420 shares in the last quarter. Global Retirement Partners LLC raised its holdings in shares of Entergy by 34.4% in the third quarter. Global Retirement Partners LLC now owns 1,351 shares of the utilities provider’s stock valued at $123,000 after acquiring an additional 346 shares in the last quarter. HB Wealth Management LLC lifted its stake in Entergy by 17.5% in the third quarter. HB Wealth Management LLC now owns 2,912 shares of the utilities provider’s stock worth $269,000 after acquiring an additional 434 shares during the period. Ziegler Capital Management LLC grew its holdings in Entergy by 82.2% during the 3rd quarter. Ziegler Capital Management LLC now owns 21,226 shares of the utilities provider’s stock worth $1,963,000 after acquiring an additional 9,577 shares in the last quarter. Finally, Impact Partnership Wealth LLC purchased a new position in Entergy during the 3rd quarter valued at about $135,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Entergy Company Profile

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.