Entergy (NYSE:ETR) Price Target Raised to $97.00 at Wells Fargo & Company

Entergy (NYSE:ETR) had its price target hoisted by Wells Fargo & Company from $85.00 to $97.00 in a research note published on Wednesday,Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

A number of other brokerages also recently weighed in on ETR. Barclays boosted their price target on Entergy from $68.50 to $76.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. BMO Capital Markets lowered their price objective on Entergy from $83.00 to $79.50 and set an “outperform” rating for the company in a research note on Monday, November 18th. KeyCorp downgraded Entergy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. UBS Group upped their price objective on Entergy from $72.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Finally, LADENBURG THALM/SH SH upgraded Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price objective for the company in a research note on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.14.

Entergy Price Performance

Shares of NYSE ETR opened at $87.31 on Wednesday. Entergy has a twelve month low of $49.80 and a twelve month high of $88.38. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $37.44 billion, a price-to-earnings ratio of 21.27, a price-to-earnings-growth ratio of 2.52 and a beta of 0.72. The business has a 50 day simple moving average of $78.74 and a 200-day simple moving average of $71.08.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. Entergy had a return on equity of 9.53% and a net margin of 14.83%. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same period in the previous year, the business earned $0.26 EPS. As a group, equities research analysts expect that Entergy will post 3.63 earnings per share for the current year.

Entergy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 10th will be given a dividend of $0.60 per share. The ex-dividend date is Monday, February 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.75%. Entergy’s dividend payout ratio (DPR) is presently 58.47%.

Insiders Place Their Bets

In other Entergy news, insider Deanna D. Rodriguez sold 6,088 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $73.94, for a total transaction of $450,146.72. Following the completion of the transaction, the insider now owns 3,952 shares in the company, valued at approximately $292,210.88. The trade was a 60.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.54% of the stock is currently owned by insiders.

Institutional Trading of Entergy

Institutional investors have recently modified their holdings of the company. Fortis Group Advisors LLC lifted its holdings in shares of Entergy by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider’s stock valued at $26,000 after buying an additional 172 shares during the period. NBT Bank N A NY lifted its holdings in shares of Entergy by 100.0% in the fourth quarter. NBT Bank N A NY now owns 340 shares of the utilities provider’s stock valued at $26,000 after buying an additional 170 shares during the period. Legacy Investment Solutions LLC acquired a new stake in shares of Entergy in the third quarter valued at $27,000. Duncker Streett & Co. Inc. lifted its holdings in shares of Entergy by 100.0% in the fourth quarter. Duncker Streett & Co. Inc. now owns 358 shares of the utilities provider’s stock valued at $27,000 after buying an additional 179 shares during the period. Finally, Sandy Spring Bank lifted its holdings in shares of Entergy by 100.0% in the fourth quarter. Sandy Spring Bank now owns 358 shares of the utilities provider’s stock valued at $27,000 after buying an additional 179 shares during the period. Institutional investors and hedge funds own 88.07% of the company’s stock.

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.