Entergy Corporation (ETR) Stock Rating Upgraded by BidaskClub
Entergy Corporation (NYSE:ETR) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a report issued on Saturday.
A number of other analysts have also recently issued reports on ETR. Mizuho reduced their price objective on Entergy Corporation from $79.00 to $76.00 and set a “neutral” rating for the company in a research report on Friday, April 28th. Royal Bank Of Canada reissued a “hold” rating and set a $80.00 price objective on shares of Entergy Corporation in a research report on Tuesday, May 2nd. Morgan Stanley lifted their price objective on Entergy Corporation from $77.00 to $78.00 and gave the company an “underweight” rating in a research report on Monday, May 8th. Wells Fargo & Company lifted their price objective on Entergy Corporation from $83.50 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, May 31st. Finally, ValuEngine cut Entergy Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. Entergy Corporation presently has an average rating of “Hold” and a consensus target price of $78.17.
Entergy Corporation (ETR) traded up 1.09% on Friday, hitting $79.85. The stock had a trading volume of 932,219 shares. The stock’s 50 day moving average is $76.78 and its 200 day moving average is $76.40. Entergy Corporation has a one year low of $66.71 and a one year high of $81.83. The stock’s market cap is $14.33 billion.
Entergy Corporation (NYSE:ETR) last issued its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $1.91. Entergy Corporation had a positive return on equity of 14.08% and a negative net margin of 7.98%. The business had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the previous year, the company posted $3.16 earnings per share. Analysts anticipate that Entergy Corporation will post $6.94 earnings per share for the current year.
In other Entergy Corporation news, Director Alexis M. Herman sold 995 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $76.38, for a total value of $75,998.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sallie T. Rainer sold 1,000 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $77.78, for a total value of $77,780.00. The disclosure for this sale can be found here. Insiders sold 3,495 shares of company stock valued at $271,313 in the last ninety days. Insiders own 0.24% of the company’s stock.
Several hedge funds have recently made changes to their positions in ETR. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Entergy Corporation by 46.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,300 shares of the utilities provider’s stock worth $100,000 after buying an additional 410 shares in the last quarter. V Wealth Management LLC bought a new stake in shares of Entergy Corporation during the second quarter worth $106,000. Advisory Services Network LLC bought a new stake in shares of Entergy Corporation during the first quarter worth $174,000. Parallel Advisors LLC boosted its stake in shares of Entergy Corporation by 291.6% in the first quarter. Parallel Advisors LLC now owns 2,377 shares of the utilities provider’s stock worth $182,000 after buying an additional 1,770 shares in the last quarter. Finally, Tiedemann Wealth Management LLC bought a new stake in shares of Entergy Corporation during the first quarter worth $203,000. 82.53% of the stock is owned by institutional investors.
About Entergy Corporation
Entergy Corporation is a holding company. The Company is an integrated energy company engaged in electric power production and retail electric distribution operations. The Company 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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