KeyCorp Raises Entergy (NYSE:ETR) Price Target to $123.00

Entergy (NYSE:ETR) had its target price boosted by KeyCorp from $112.00 to $123.00 in a report issued on Monday morning, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

Other equities analysts have also issued research reports about the stock. Barclays decreased their price target on shares of Entergy from $108.00 to $107.00 and set an equal weight rating on the stock in a report on Monday, April 15th. Royal Bank of Canada restated an outperform rating and set a $117.00 price target on shares of Entergy in a research report on Monday, February 26th. Scotiabank cut their price objective on Entergy from $111.00 to $104.00 and set a sector perform rating for the company in a report on Monday, April 22nd. Finally, BMO Capital Markets raised their price objective on Entergy from $110.00 to $113.00 and gave the company an outperform rating in a report on Monday, February 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $110.45.

Entergy Trading Down 2.9 %

Shares of ETR stock opened at $109.38 on Monday. Entergy has a 52-week low of $87.10 and a 52-week high of $114.28. The business’s fifty day moving average is $106.77 and its 200 day moving average is $102.81. 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 company has a market capitalization of $23.36 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 2.16 and a beta of 0.69.

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 analysts’ consensus estimates of $1.44 by ($0.36). The business had revenue of $31.17 billion for the quarter, compared to the consensus estimate of $3.16 billion. Entergy had a net margin of 17.75% and a return on equity of 10.20%. The business’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business posted $1.14 EPS. On average, equities research analysts anticipate that Entergy will post 7.23 EPS for the current fiscal year.

Entergy Dividend Announcement

The company 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 $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date is Wednesday, May 1st. Entergy’s dividend payout ratio (DPR) is presently 45.34%.

Insider Activity

In related news, CAO Reginald T. Jackson sold 9,229 shares of the business’s stock in a transaction dated 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 transaction, the chief accounting officer now owns 2,166 shares in the company, valued at approximately $235,465.86. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CAO Reginald T. Jackson sold 9,229 shares of Entergy stock in a transaction on Monday, May 6th. The shares were sold at an average price of $108.71, for a total value of $1,003,284.59. Following the sale, the chief accounting officer now owns 2,166 shares in the company, valued at $235,465.86. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kimberly Cook-Nelson sold 2,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $100.35, for a total transaction of $200,700.00. Following the completion of the transaction, the executive vice president now owns 16,037 shares of the company’s stock, valued at $1,609,312.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,729 shares of company stock valued at $2,395,315. Insiders own 0.39% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ETR. Vanguard Group Inc. raised its holdings in Entergy by 0.4% in the third quarter. Vanguard Group Inc. now owns 26,038,725 shares of the utilities provider’s stock worth $2,408,582,000 after purchasing an additional 104,803 shares in the last quarter. FMR LLC increased its stake in shares of Entergy by 64.4% in the 3rd quarter. FMR LLC now owns 4,562,369 shares of the utilities provider’s stock worth $422,019,000 after acquiring an additional 1,787,977 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Entergy by 1.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,506,843 shares of the utilities provider’s stock valued at $416,883,000 after acquiring an additional 48,047 shares during the period. Capital International Investors lifted its position in Entergy by 64.2% during the 1st quarter. Capital International Investors now owns 4,170,045 shares of the utilities provider’s stock valued at $440,690,000 after acquiring an additional 1,630,057 shares during the period. Finally, Franklin Resources Inc. boosted its stake in Entergy by 25.2% during the fourth 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 in the last quarter. Hedge funds and other institutional investors 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.