Scotiabank Trims Entergy (NYSE:ETR) Target Price to $104.00

Entergy (NYSE:ETR) had its price objective decreased by Scotiabank from $111.00 to $104.00 in a research report report published on Monday, Benzinga reports. Scotiabank currently has a sector perform rating on the utilities provider’s stock.

A number of other equities analysts have also recently commented on the stock. Royal Bank of Canada reaffirmed an outperform rating and set a $117.00 price objective on shares of Entergy in a research report on Monday, February 26th. KeyCorp lifted their price objective on shares of Entergy from $108.00 to $112.00 and gave the stock an overweight rating in a research report on Friday. BMO Capital Markets lifted their price objective on shares of Entergy from $110.00 to $113.00 and gave the stock an outperform rating in a research report on Monday, February 26th. Finally, Barclays reduced their price objective on shares of Entergy from $108.00 to $107.00 and set an equal weight rating for the company in a research report on Monday, April 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $109.45.

Entergy Price Performance

NYSE:ETR opened at $107.45 on Monday. Entergy has a 1-year low of $87.10 and a 1-year high of $109.53. The company has a current ratio of 0.57, a quick ratio of 0.32 and a debt-to-equity ratio of 1.57. The firm has a fifty day simple moving average of $102.79 and a 200 day simple moving average of $100.38. The stock has a market capitalization of $22.91 billion, a PE ratio of 9.69, a P/E/G ratio of 2.11 and a beta of 0.71.

Entergy (NYSE:ETR) last released its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.52 EPS for the quarter, hitting analysts’ consensus estimates of $0.52. Entergy had a net margin of 19.41% and a return on equity of 10.54%. The firm had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same period in the previous year, the business posted $0.51 earnings per share. On average, research analysts expect that Entergy will post 7.22 EPS for the current fiscal year.

Entergy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Thursday, May 2nd will be paid a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date is Wednesday, May 1st. Entergy’s dividend payout ratio (DPR) is presently 40.76%.

Insider Activity at Entergy

In related news, EVP Marcus V. Brown sold 8,500 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $102.84, for a total value of $874,140.00. Following the completion of the transaction, the executive vice president now owns 9,911 shares of the company’s stock, valued at $1,019,247.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Marcus V. Brown sold 8,500 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $102.84, for a total value of $874,140.00. Following the completion of the transaction, the executive vice president now owns 9,911 shares of the company’s stock, valued at $1,019,247.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Deanna D. Rodriguez sold 1,500 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $101.23, for a total value of $151,845.00. Following the completion of the transaction, the insider now directly owns 3,442 shares of the company’s stock, valued at approximately $348,433.66. The disclosure for this sale can be found here. Insiders sold a total of 12,000 shares of company stock valued at $1,226,685 over the last quarter. 0.54% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ETR. EverSource Wealth Advisors LLC raised its stake in Entergy by 157.1% during the third quarter. EverSource Wealth Advisors LLC now owns 270 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 165 shares in the last quarter. Tidemark LLC acquired a new position in Entergy during the fourth quarter worth about $25,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Entergy during the third quarter worth about $32,000. Fortis Group Advisors LLC acquired a new position in Entergy during the third quarter worth about $32,000. Finally, OLD Point Trust & Financial Services N A acquired a new position in Entergy during the fourth quarter worth about $35,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

About Entergy

Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. It generates, transmits, distributes, and sells electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, including the City of New Orleans; and distributes natural gas.