Entergy (NYSE:ETR) was upgraded by stock analysts at Bank of America from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Marketbeat reports. The firm presently has a $89.00 target price on the utilities provider’s stock. Bank of America’s price target would indicate a potential upside of 6.21% from the stock’s previous close.
Other equities analysts also recently issued reports about the stock. TheStreet downgraded shares of Entergy from a “b-” rating to a “c+” rating in a research note on Wednesday, December 6th. Morgan Stanley increased their price target on shares of Entergy from $82.00 to $84.00 and gave the stock an “underweight” rating in a research note on Friday, September 8th. Wells Fargo & Company reissued an “outperform” rating and issued a $96.00 price target (up from $90.00) on shares of Entergy in a research note on Wednesday, October 25th. Jefferies Group upgraded shares of Entergy from a “hold” rating to a “buy” rating in a report on Monday, October 16th. Finally, Mizuho upgraded shares of Entergy from a “neutral” rating to a “buy” rating in a report on Friday, November 17th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $83.17.
Entergy (NYSE:ETR) traded up $1.13 during mid-day trading on Tuesday, reaching $83.80. 4,640,000 shares of the company were exchanged, compared to its average volume of 1,360,000. Entergy has a 12 month low of $69.63 and a 12 month high of $87.95. The company has a market capitalization of $15,050.00, a P/E ratio of 12.40, a P/E/G ratio of 1.73 and a beta of 0.55. The company has a current ratio of 0.78, a quick ratio of 0.58 and a debt-to-equity ratio of 1.61.
In other news, EVP Marcus V. Brown sold 1,500 shares of the stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $82.00, for a total transaction of $123,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Haley Fisackerly sold 3,934 shares of the stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $82.49, for a total transaction of $324,515.66. Following the sale, the insider now owns 4,367 shares in the company, valued at approximately $360,233.83. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,812 shares of company stock worth $4,907,522. Corporate insiders own 0.24% of the company’s stock.
Several large investors have recently bought and sold shares of ETR. Advisory Services Network LLC grew its holdings in shares of Entergy by 2.1% during the second quarter. Advisory Services Network LLC now owns 2,335 shares of the utilities provider’s stock valued at $179,000 after buying an additional 49 shares during the last quarter. Krilogy Financial LLC grew its holdings in shares of Entergy by 1,116.0% during the third quarter. Krilogy Financial LLC now owns 2,432 shares of the utilities provider’s stock valued at $186,000 after buying an additional 2,232 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of Entergy by 3.0% during the second quarter. Parallel Advisors LLC now owns 2,448 shares of the utilities provider’s stock valued at $188,000 after buying an additional 71 shares during the last quarter. BlueMountain Capital Management LLC purchased a new stake in shares of Entergy during the second quarter valued at approximately $204,000. Finally, Buckingham Asset Management LLC purchased a new stake in shares of Entergy during the third quarter valued at approximately $212,000. Hedge funds and other institutional investors own 82.95% of the company’s stock.
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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.
