Entergy Sets New 12-Month High After Analyst Upgrade (ETR)
Shares of Entergy (NYSE:ETR) reached a new 52-week high during mid-day trading on Tuesday after UBS AG raised their price target on the stock from $59.00 to $64.00, Analyst RN reports. UBS AG currently has a sell rating on the stock. Entergy traded as high as $73.71 and last traded at $72.75, with a volume of 1,140,485 shares trading hands. The stock had previously closed at $72.82.
ETR has been the subject of a number of other recent research reports. Analysts at Citigroup Inc. reiterated a “sell” rating on shares of Entergy in a research note on Thursday, April 24th. They now have a $61.00 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Entergy in a research note on Wednesday, April 23rd. They now have a $73.00 price target on the stock. Finally, analysts at Zacks upgraded shares of Entergy from a “neutral” rating to an “outperform” rating in a research note on Wednesday, April 23rd. They now have a $85.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. Entergy currently has a consensus rating of “Hold” and an average price target of $68.54.
In other Entergy news, CAO Alyson Mount sold 3,937 shares of the company’s stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $72.25, for a total value of $284,448.25. Following the completion of the sale, the chief accounting officer now directly owns 5,863 shares in the company, valued at approximately $423,602. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
The stock has a 50-day moving average of $67.91 and a 200-day moving average of $64.41. The company has a market cap of $13.007 billion and a price-to-earnings ratio of 18.25.
Entergy (NYSE:ETR) last issued its quarterly earnings data on Thursday, April 24th. The company reported $2.24 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.34 by $0.90. The company had revenue of $3.21 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the prior year, the company posted $0.94 earnings per share. The company’s quarterly revenue was up 23.0% on a year-over-year basis. On average, analysts predict that Entergy will post $5.99 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, June 2nd. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 4.56%. The ex-dividend date is Tuesday, May 13th.
Entergy Corporation (NYSE:ETR) is an integrated energy company engaged primarily in electric power production and retail distribution operations.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.