Entergy (NYSE:ETR) had its price target upped by Morgan Stanley from $105.00 to $109.00 in a research report issued on Friday, BenzingaRatingsTable reports. The firm presently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s target price would indicate a potential upside of 7.90% from the stock’s previous close.
Several other brokerages also recently issued reports on ETR. Macquarie set a $100.00 price target on Entergy and gave the company a “buy” rating in a report on Thursday, May 2nd. Wells Fargo & Co raised their price target on Entergy from $99.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, February 21st. ValuEngine downgraded Entergy from a “buy” rating to a “hold” rating in a report on Monday, April 1st. Zacks Investment Research downgraded Entergy from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Finally, UBS Group lifted their target price on Entergy from $107.00 to $112.00 and gave the stock a “buy” rating in a report on Friday, June 7th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $95.50.
Shares of ETR opened at $101.02 on Friday. Entergy has a twelve month low of $76.17 and a twelve month high of $102.43. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.70 and a quick ratio of 0.52. The company has a market cap of $19.21 billion, a PE ratio of 13.82, a price-to-earnings-growth ratio of 2.73 and a beta of 0.36.
Entergy (NYSE:ETR) last released its earnings results on Wednesday, May 1st. The utilities provider reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.12). Entergy had a net margin of 9.04% and a return on equity of 15.17%. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same period in the prior year, the business posted $0.83 earnings per share. As a group, sell-side analysts expect that Entergy will post 5.3 EPS for the current fiscal year.
In other news, insider Sallie T. Rainer sold 2,600 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $98.00, for a total transaction of $254,800.00. Following the sale, the insider now directly owns 16,471 shares in the company, valued at $1,614,158. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Sallie T. Rainer sold 1,100 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $102.00, for a total value of $112,200.00. Following the completion of the sale, the insider now owns 4,097 shares in the company, valued at $417,894. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 138,732 shares of company stock worth $13,667,032. Company insiders own 0.27% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Bank of The West boosted its holdings in Entergy by 4.0% in the first quarter. Bank of The West now owns 2,777 shares of the utilities provider’s stock valued at $266,000 after acquiring an additional 108 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Entergy by 4.1% in the first quarter. Victory Capital Management Inc. now owns 2,777 shares of the utilities provider’s stock valued at $266,000 after acquiring an additional 110 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its stake in Entergy by 0.6% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 18,609 shares of the utilities provider’s stock valued at $1,779,000 after buying an additional 120 shares during the period. CWM Advisors LLC lifted its stake in Entergy by 1.9% in the fourth quarter. CWM Advisors LLC now owns 6,479 shares of the utilities provider’s stock valued at $558,000 after buying an additional 123 shares during the period. Finally, Bessemer Group Inc. lifted its stake in Entergy by 2.1% in the fourth quarter. Bessemer Group Inc. now owns 6,323 shares of the utilities provider’s stock valued at $543,000 after buying an additional 128 shares during the period. Institutional investors and hedge funds own 87.89% of the company’s stock.
Entergy Corporation, together with its subsidiaries, engages in the production and distribution of electricity in the United States. It generates electricity through gas/oil, nuclear, coal, hydro, and solar power sources. The company's Utility segment generates, transmits, distributes, and sells electric power in portions of Arkansas, Mississippi, Texas, and Louisiana, including the City of New Orleans; and distributes natural gas.
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