KeyCorp Forecasts Strong Price Appreciation for Entergy (NYSE:ETR) Stock

Entergy (NYSE:ETR) had its price objective upped by analysts at KeyCorp from $85.00 to $88.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. KeyCorp’s price target would suggest a potential upside of 4.05% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Barclays lowered their price target on shares of Entergy from $91.00 to $87.00 and set an “overweight” rating on the stock in a report on Thursday, July 10th. Morgan Stanley dropped their price objective on shares of Entergy from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 18th. JPMorgan Chase & Co. lifted their price objective on shares of Entergy from $100.00 to $102.00 and gave the company an “overweight” rating in a research report on Tuesday. UBS Group boosted their price objective on shares of Entergy from $86.00 to $96.00 and gave the company a “buy” rating in a report on Friday, March 21st. Finally, Raymond James Financial assumed coverage on shares of Entergy in a research report on Friday, June 13th. They issued a “market perform” rating for the company. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $86.46.

Entergy Stock Up 1.2%

Shares of NYSE ETR opened at $84.57 on Wednesday. The business has a 50-day moving average of $82.22 and a two-hundred day moving average of $82.27. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.82 and a quick ratio of 0.55. Entergy has a 1 year low of $55.01 and a 1 year high of $88.38. The company has a market capitalization of $36.43 billion, a price-to-earnings ratio of 27.46, a price-to-earnings-growth ratio of 2.28 and a beta of 0.59.

Entergy (NYSE:ETR) last posted its earnings results on Tuesday, April 29th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.22. Entergy had a return on equity of 11.43% and a net margin of 11.26%. The firm had revenue of $3.02 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the prior year, the company earned $0.54 EPS. On average, analysts forecast that Entergy will post 3.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ETR. Mattson Financial Services LLC lifted its stake in shares of Entergy by 100.0% in the first quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider’s stock valued at $26,000 after buying an additional 150 shares in the last quarter. Sandy Spring Bank raised 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 purchasing an additional 179 shares during the last quarter. Glen Eagle Advisors LLC raised its holdings in shares of Entergy by 100.0% in the fourth quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 180 shares during the last quarter. Atwood & Palmer Inc. raised its holdings in shares of Entergy by 135.7% in the second quarter. Atwood & Palmer Inc. now owns 330 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 190 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Entergy in the first quarter valued at about $28,000. 88.07% of the stock is owned by 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.