Entergy (NYSE:ETR) Given New $89.00 Price Target at BMO Capital Markets

Entergy (NYSE:ETR) had its price objective dropped by research analysts at BMO Capital Markets from $94.00 to $89.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the utilities provider’s stock. BMO Capital Markets’ price target would suggest a potential upside of 10.96% from the stock’s current price.

Several other research analysts have also recently issued reports on ETR. UBS Group raised their target price on Entergy from $86.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday, March 21st. Barclays raised their price objective on shares of Entergy from $79.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday. JPMorgan Chase & Co. upped their target price on shares of Entergy from $87.00 to $98.00 and gave the company an “overweight” rating in a report on Tuesday, March 11th. Morgan Stanley lifted their price target on shares of Entergy from $75.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 20th. Finally, Wells Fargo & Company boosted their price objective on shares of Entergy from $85.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Six research 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. Based on data from MarketBeat, Entergy has a consensus rating of “Moderate Buy” and a consensus target price of $85.25.

Entergy Stock Down 0.4 %

ETR opened at $80.21 on Friday. The stock has a market capitalization of $34.55 billion, a price-to-earnings ratio of 32.94, a PEG ratio of 2.34 and a beta of 0.56. The firm has a 50 day moving average price of $83.48 and a 200-day moving average price of $77.15. Entergy has a twelve month low of $50.19 and a twelve month high of $88.38. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 1.81.

Entergy (NYSE:ETR) last announced its 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. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $3.24 billion. Entergy had a net margin of 8.90% and a return on equity of 10.68%. During the same period in the previous year, the business earned $0.26 EPS. Equities research analysts forecast that Entergy will post 3.88 earnings per share for the current year.

Institutional Investors Weigh In On Entergy

A number of institutional investors have recently added to or reduced their stakes in ETR. Strategic Financial Concepts LLC bought a new position in shares of Entergy during the fourth quarter worth $4,393,000. Flagship Harbor Advisors LLC boosted its holdings in shares of Entergy by 74.3% during the 4th quarter. Flagship Harbor Advisors LLC now owns 7,959 shares of the utilities provider’s stock valued at $603,000 after purchasing an additional 3,393 shares during the last quarter. LaFleur & Godfrey LLC purchased a new position in shares of Entergy during the fourth quarter valued at about $217,000. Avior Wealth Management LLC increased its holdings in shares of Entergy by 324.3% in the fourth quarter. Avior Wealth Management LLC now owns 734 shares of the utilities provider’s stock worth $56,000 after purchasing an additional 561 shares during the last quarter. Finally, Braun Stacey Associates Inc. lifted its position in shares of Entergy by 88.8% in the fourth quarter. Braun Stacey Associates Inc. now owns 360,502 shares of the utilities provider’s stock worth $27,333,000 after buying an additional 169,511 shares in the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

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.