Entergy (NYSE:ETR) had its target price increased by Morgan Stanley from $104.00 to $105.00 in a research report released on Thursday morning, BenzingaRatingsTable reports. The brokerage currently has an overweight rating on the utilities provider’s stock.
Several other brokerages also recently issued reports on ETR. Macquarie set a $100.00 price objective on Entergy and gave the stock a buy rating in a research note on Thursday, May 2nd. Zacks Investment Research downgraded Entergy from a buy rating to a hold rating in a research note on Wednesday, January 23rd. Royal Bank of Canada reaffirmed a hold rating and set a $91.00 price target on shares of Entergy in a research note on Wednesday, January 23rd. Wells Fargo & Co raised their price target on Entergy from $99.00 to $105.00 and gave the stock an outperform rating in a research note on Thursday, February 21st. Finally, ValuEngine raised Entergy from a hold rating to a buy rating in a research note on Wednesday, May 1st. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $93.50.
Entergy stock traded up $0.55 during mid-day trading on Thursday, hitting $97.46. The company’s stock had a trading volume of 19,867 shares, compared to its average volume of 1,280,455. The company has a market cap of $18.25 billion, a P/E ratio of 13.34, a P/E/G ratio of 2.60 and a beta of 0.40. The company has a current ratio of 0.70, a quick ratio of 0.52 and a debt-to-equity ratio of 1.91. Entergy has a 52-week low of $75.45 and a 52-week high of $97.62.
Entergy (NYSE:ETR) last announced its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.12). The business had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Entergy had a return on equity of 15.17% and a net margin of 9.04%. During the same period in the prior year, the company posted $0.83 earnings per share. On average, equities analysts forecast that Entergy will post 5.28 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Thursday, May 9th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend is Wednesday, May 8th. Entergy’s dividend payout ratio is 49.79%.
In other news, insider Haley Fisackerly sold 3,501 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $97.00, for a total transaction of $339,597.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Leo P. Denault sold 44,279 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $97.50, for a total value of $4,317,202.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 98,383 shares of company stock worth $9,419,438. 0.27% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of ETR. Aspire Private Capital LLC acquired a new stake in Entergy in the 4th quarter valued at approximately $26,000. Altshuler Shaham Ltd acquired a new stake in Entergy in the 4th quarter valued at approximately $27,000. American Research & Management Co. acquired a new stake in Entergy in the 1st quarter valued at approximately $30,000. Investec Asset Management PTY Ltd acquired a new stake in Entergy in the 4th quarter valued at approximately $37,000. Finally, CWM LLC grew its holdings in Entergy by 176.4% in the 4th quarter. CWM LLC now owns 445 shares of the utilities provider’s stock valued at $38,000 after buying an additional 284 shares during the last quarter. 89.77% of the stock is currently owned by institutional investors and hedge funds.
Entergy Company Profile
Entergy Corporation, together with its subsidiaries, engages in the production and distribution of electricity in the United States. It generates electricity through gas/oil, nuclear, coal, hydro, and solar power sources. The company's Utility segment generates, transmits, distributes, and sells electric power in portions of Arkansas, Mississippi, Texas, and Louisiana, including the City of New Orleans; and distributes natural gas.
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