Entergy Given Outperform Rating at Zacks (ETR)
Entergy (NYSE:ETR)‘s stock had its “outperform” rating reiterated by Zacks in a research report issued to clients and investors on Friday. They currently have a $91.00 price target on the stock. Zacks‘s price target would indicate a potential upside of 20.56% from the stock’s previous close.
Zacks’ analyst wrote, “Ahead of the second quarter of 2014 results, we are maintaining our Outperform recommendation on Entergy Corporation. The company’s strong liquidity position backed by stable cash generation capacity, disciplined investment in growth projects and practice of paying regular dividends are expected to boost its forthcoming performance. Entergy continues to follow cost-control initiatives, which will subsequently help it to improve future margins. Moreover, steady investments for installing scrubbers and other emission-control equipments at its facilities will enable the company to curb carbon emission, thereby meeting government’s environmental regulations.”
A number of other analysts have also recently weighed in on ETR. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Entergy in a research note on Wednesday. They now have a $80.00 price target on the stock, up previously from $79.00. Separately, analysts at JPMorgan Chase & Co. set a $74.00 price target on shares of Entergy in a research note on Wednesday, July 9th. Finally, analysts at Jefferies Group raised their price target on shares of Entergy from $79.00 to $81.00 in a research note on Tuesday, July 1st. They now have a “hold” rating on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $76.36.
Shares of Entergy (NYSE:ETR) traded down 1.14% during mid-day trading on Friday, hitting $75.48. 1,449,853 shares of the company’s stock traded hands. Entergy has a one year low of $60.22 and a one year high of $82.48. The stock’s 50-day moving average is $78.56 and its 200-day moving average is $70.27. The company has a market cap of $13.540 billion and a P/E ratio of 14.32. Entergy also was the target of a large increase in short interest in July. As of July 15th, there was short interest totalling 10,375,172 shares, an increase of 56.2% from the June 30th total of 6,642,383 shares. Approximately 5.8% of the shares of the stock are short sold. Based on an average trading volume of 1,790,046 shares, the days-to-cover ratio is currently 5.8 days.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 2nd. Stockholders of record on Thursday, August 14th will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 4.40%.
Entergy Corporation (NYSE:ETR) is an integrated energy company engaged primarily in electric power production and retail distribution operations.
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