Entergy (NYSE:ETR) had its price objective increased by Morgan Stanley from $86.00 to $88.00 in a research note issued on Wednesday. The firm presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price target points to a potential upside of 5.69% from the stock’s previous close.
Other equities analysts have also recently issued reports about the company. TheStreet upgraded Entergy from a “c” rating to a “b-” rating in a report on Friday, October 27th. Mizuho upgraded Entergy from a “neutral” rating to a “buy” rating in a report on Friday, November 17th. Jefferies Group upgraded Entergy from a “hold” rating to a “buy” rating in a report on Monday, October 16th. Citigroup upgraded Entergy from a “neutral” rating to a “buy” rating and set a $91.00 price objective for the company in a report on Friday, October 13th. Finally, BidaskClub upgraded Entergy from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $83.17.
Entergy (ETR) traded down $1.32 during trading on Wednesday, reaching $83.26. The company had a trading volume of 1,540,900 shares, compared to its average volume of 1,211,765. Entergy has a twelve month low of $69.63 and a twelve month high of $87.95. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.58 and a current ratio of 0.78. The stock has a market capitalization of $15,245.66, a PE ratio of 12.51, a price-to-earnings-growth ratio of 1.74 and a beta of 0.55.
In other news, insider Charles L. Rice, Jr. sold 9,234 shares of the business’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $86.24, for a total value of $796,340.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Donald W. Vinci sold 6,594 shares of the business’s stock in a transaction dated Thursday, October 19th. The shares were sold at an average price of $85.00, for a total value of $560,490.00. Following the completion of the sale, the executive vice president now directly owns 14,867 shares of the company’s stock, valued at approximately $1,263,695. The disclosure for this sale can be found here. In the last three months, insiders sold 57,812 shares of company stock valued at $4,907,522. 0.24% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ETR. Franklin Resources Inc. raised its position in Entergy by 43.9% during the 2nd quarter. Franklin Resources Inc. now owns 1,888,643 shares of the utilities provider’s stock valued at $144,991,000 after purchasing an additional 576,426 shares during the last quarter. AJO LP raised its position in Entergy by 16.0% during the 2nd quarter. AJO LP now owns 3,518,543 shares of the utilities provider’s stock valued at $270,119,000 after purchasing an additional 485,602 shares during the last quarter. Principal Financial Group Inc. raised its position in Entergy by 99.4% during the 2nd quarter. Principal Financial Group Inc. now owns 902,639 shares of the utilities provider’s stock valued at $69,296,000 after purchasing an additional 449,986 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in Entergy by 71.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 973,379 shares of the utilities provider’s stock valued at $74,726,000 after purchasing an additional 404,399 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in Entergy by 283.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 326,226 shares of the utilities provider’s stock valued at $25,015,000 after purchasing an additional 241,100 shares during the last quarter. 82.95% of the stock is owned by institutional investors and hedge funds.
About Entergy
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.
