Entergy Corp.’s (ETR) “Conviction-Buy” Rating Reaffirmed at Goldman Sachs Group Inc.
Entergy Corp. (NYSE:ETR)‘s stock had its “conviction-buy” rating reiterated by Goldman Sachs Group Inc. in a note issued to investors on Monday.
Several other equities research analysts have also issued reports on ETR. Deutsche Bank AG lowered their price target on shares of Entergy Corp. from $83.00 to $82.00 and set a “hold” rating on the stock in a research note on Wednesday, August 3rd. Citigroup Inc. lifted their price target on shares of Entergy Corp. from $72.00 to $83.00 and gave the company a “neutral” rating in a research note on Wednesday, July 20th. Zacks Investment Research upgraded shares of Entergy Corp. from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a research note on Friday. Finally, Guggenheim upgraded shares of Entergy Corp. from a “neutral” rating to a “buy” rating and set a $86.00 price objective on the stock in a research note on Monday, August 22nd. Eight research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $81.78.
Shares of Entergy Corp. (NYSE:ETR) opened at 74.16 on Monday. Entergy Corp. has a 1-year low of $64.11 and a 1-year high of $82.09. The company has a market cap of $13.27 billion, a PE ratio of 76.61 and a beta of 0.38. The company has a 50 day moving average of $77.46 and a 200 day moving average of $77.89.
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Entergy Corp. (NYSE:ETR) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $2.06. Entergy Corp. had a net margin of 1.78% and a return on equity of 15.34%. During the same period last year, the company posted $0.83 EPS. Equities analysts expect that Entergy Corp. will post $6.72 earnings per share for the current fiscal year.
In other news, insider Haley Fisackerly sold 1,250 shares of the firm’s stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $77.60, for a total transaction of $97,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Charles L. Rice, Jr. sold 760 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $79.36, for a total transaction of $60,313.60. The disclosure for this sale can be found here. Company insiders own 0.22% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Iowa State Bank acquired a new position in shares of Entergy Corp. during the second quarter valued at approximately $103,000. Washington Trust Bank boosted its position in shares of Entergy Corp. by 2.8% in the third quarter. Washington Trust Bank now owns 1,991 shares of the company’s stock worth $153,000 after buying an additional 55 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Entergy Corp. by 70.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,928 shares of the company’s stock worth $157,000 after buying an additional 797 shares during the period. Mizuho Asset Management Co. Ltd. boosted its position in shares of Entergy Corp. by 75.5% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,345 shares of the company’s stock worth $191,000 after buying an additional 1,009 shares during the period. Finally, FUKOKU MUTUAL LIFE INSURANCE Co boosted its position in shares of Entergy Corp. by 20.0% in the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 2,400 shares of the company’s stock worth $195,000 after buying an additional 400 shares during the period. 85.21% of the stock is currently owned by institutional investors.
Entergy Corp. Company Profile
Entergy Corporation is a holding company. The Company is an integrated energy company engaged in electric power production and retail electric distribution operations. It operates through two business segments: Utility and Entergy Wholesale Commodities. The Utility segment includes the generation, transmission, distribution and sale of electric power to retail and wholesale customers in areas of Arkansas, Mississippi, Texas and Louisiana, including the City of New Orleans and operates a natural gas distribution business.
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