Entergy (ETR) Receives “Buy” Rating from Guggenheim
Entergy (NYSE:ETR)‘s stock had its “buy” rating reissued by investment analysts at Guggenheim in a report issued on Wednesday. They presently have a $101.00 price objective on the utilities provider’s stock. Guggenheim’s price target points to a potential upside of 22.28% from the stock’s previous close.
ETR has been the subject of several other research reports. Mizuho reissued a “hold” rating and set a $83.00 price objective on shares of Entergy in a research report on Friday, October 27th. Citigroup raised Entergy from a “neutral” rating to a “buy” rating and set a $91.00 price objective for the company in a research report on Friday, October 13th. JPMorgan Chase & Co. raised their price target on Entergy from $83.00 to $84.00 and gave the company a “neutral” rating in a report on Thursday, October 12th. Morgan Stanley upgraded Entergy from an “underweight” rating to an “equal weight” rating and reduced their price target for the company from $84.00 to $82.00 in a report on Thursday, September 21st. Finally, TheStreet upgraded Entergy from a “c” rating to a “b-” rating in a report on Friday, October 27th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $84.54.
Shares of Entergy (NYSE:ETR) traded up $1.21 during trading on Wednesday, reaching $82.60. The company’s stock had a trading volume of 1,813,100 shares, compared to its average volume of 1,295,100. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.78 and a quick ratio of 0.58. The stock has a market capitalization of $14,840.00, a price-to-earnings ratio of -16.72, a P/E/G ratio of 2.34 and a beta of 0.55. Entergy has a fifty-two week low of $69.63 and a fifty-two week high of $87.95.
In related news, EVP Marcus V. Brown sold 1,500 shares of Entergy stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $82.00, for a total value of $123,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Richard C. Riley sold 2,000 shares of Entergy stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of $85.00, for a total value of $170,000.00. Following the completion of the sale, the insider now owns 27,264 shares of the company’s stock, valued at $2,317,440. The disclosure for this sale can be found here. Insiders have sold 57,812 shares of company stock valued at $4,907,522 over the last 90 days. Corporate insiders own 0.24% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ETR. Schwab Charles Investment Management Inc. increased its holdings in Entergy by 7.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 681,222 shares of the utilities provider’s stock worth $52,298,000 after buying an additional 44,610 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Entergy by 8.4% during the 2nd quarter. Pacer Advisors Inc. now owns 3,744 shares of the utilities provider’s stock valued at $287,000 after purchasing an additional 290 shares during the period. State of Tennessee Treasury Department grew its stake in shares of Entergy by 30.6% during the 2nd quarter. State of Tennessee Treasury Department now owns 128,986 shares of the utilities provider’s stock valued at $9,902,000 after purchasing an additional 30,195 shares during the period. Franklin Resources Inc. grew its stake in shares of 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 period. Finally, Systematic Financial Management LP bought a new stake in shares of Entergy during the 2nd quarter valued at about $10,872,000. Institutional investors own 82.81% of the company’s stock.
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Entergy 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. 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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