Entergy Co. (NYSE:ETR) Receives $109.45 Average Price Target from Analysts

Entergy Co. (NYSE:ETR) has been assigned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $109.45.

ETR has been the topic of a number of recent research reports. 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. Royal Bank of Canada restated an “outperform” rating and issued a $117.00 target price on shares of Entergy in a research note on Monday, February 26th. KeyCorp upped their target price on shares of Entergy from $108.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. BMO Capital Markets raised their price target 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, Scotiabank reduced their price objective on Entergy from $111.00 to $104.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd.

Insider Transactions at Entergy

In other news, CAO Reginald T. Jackson sold 9,229 shares of Entergy stock in a transaction on Monday, May 6th. The stock was sold at an average price of $108.71, for a total transaction of $1,003,284.59. Following the completion of the sale, the chief accounting officer now owns 2,166 shares of the company’s stock, valued at $235,465.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Marcus V. Brown sold 8,500 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $102.84, for a total value of $874,140.00. Following the transaction, the executive vice president now owns 9,911 shares in the company, valued at $1,019,247.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Reginald T. Jackson sold 9,229 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $108.71, for a total value of $1,003,284.59. Following the completion of the transaction, the chief accounting officer now owns 2,166 shares in the company, valued at approximately $235,465.86. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,229 shares of company stock valued at $2,229,970. 0.54% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Entergy

Hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC increased its position in Entergy by 64.4% during the 3rd quarter. FMR LLC now owns 4,562,369 shares of the utilities provider’s stock worth $422,019,000 after purchasing an additional 1,787,977 shares in the last quarter. Norges Bank bought a new position in shares of Entergy in the 4th quarter valued at $127,675,000. Confluence Investment Management LLC acquired a new stake in shares of Entergy during the 1st quarter valued at $92,257,000. Franklin Resources Inc. grew its position in Entergy by 25.2% during the 4th quarter. Franklin Resources Inc. now owns 3,961,859 shares of the utilities provider’s stock worth $400,901,000 after acquiring an additional 796,316 shares during the last quarter. Finally, ClearBridge Investments Ltd grew its holdings in shares of Entergy by 29.3% during the fourth quarter. ClearBridge Investments Ltd now owns 3,115,468 shares of the utilities provider’s stock worth $315,254,000 after purchasing an additional 706,059 shares during the last quarter. Institutional investors own 88.07% of the company’s stock.

Entergy Stock Performance

Shares of NYSE ETR opened at $110.83 on Friday. Entergy has a 52 week low of $87.10 and a 52 week high of $110.91. The firm has a market cap of $23.67 billion, a price-to-earnings ratio of 11.12, a P/E/G ratio of 2.01 and a beta of 0.69. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.45 and a current ratio of 0.69. The business’s 50-day simple moving average is $104.40 and its 200-day simple moving average is $101.44.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.36). Entergy had a net margin of 17.75% and a return on equity of 10.20%. The business had revenue of $31.17 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period in the prior year, the business posted $1.14 earnings per share. The company’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, equities research analysts expect that Entergy will post 7.22 earnings per share for the current fiscal year.

Entergy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Thursday, May 2nd will be issued a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend is Wednesday, May 1st. Entergy’s dividend payout ratio is 45.34%.

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.