Entergy (NYSE:ETR) Price Target Raised to $166.00

Entergy (NYSE:ETR) had its price target raised by BMO Capital Markets from $146.00 to $166.00 in a report published on Friday morning, Benzinga reports. BMO Capital Markets currently has an outperform rating on the utilities provider’s stock.

Several other equities analysts have also weighed in on the stock. Scotiabank raised their price objective on shares of Entergy from $119.00 to $144.00 and gave the company a “sector perform” rating in a research report on Friday. Guggenheim lifted their price target on shares of Entergy from $118.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. increased their price objective on Entergy from $131.00 to $141.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Argus upgraded Entergy to a “strong-buy” rating in a report on Wednesday, August 28th. Finally, Barclays cut their target price on Entergy from $138.00 to $137.00 and set an “overweight” rating on the stock in a research report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $141.96.

Entergy Stock Performance

Shares of ETR opened at $144.79 on Friday. The firm has a market capitalization of $30.96 billion, a PE ratio of 17.64, a P/E/G ratio of 2.93 and a beta of 0.71. The company has a quick ratio of 0.62, a current ratio of 0.89 and a debt-to-equity ratio of 1.77. The firm has a 50-day moving average price of $129.72 and a 200 day moving average price of $117.33. Entergy has a 52-week low of $94.85 and a 52-week high of $156.85.

Entergy (NYSE:ETR) last posted its quarterly earnings data on Thursday, October 31st. The utilities provider reported $2.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.08. The business had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.46 billion. Entergy had a net margin of 14.83% and a return on equity of 9.53%. During the same period last year, the firm posted $3.27 earnings per share. On average, sell-side analysts anticipate that Entergy will post 7.21 earnings per share for the current fiscal year.

Entergy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 13th will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.32%. This is a positive change from Entergy’s previous quarterly dividend of $1.13. The ex-dividend date is Wednesday, November 13th. Entergy’s dividend payout ratio is 55.05%.

Insider Buying and Selling

In other Entergy news, COO Peter S. Norgeot, Jr. sold 11,472 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $115.16, for a total value of $1,321,115.52. Following the completion of the sale, the chief operating officer now owns 37,888 shares in the company, valued at $4,363,182.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Peter S. Norgeot, Jr. sold 11,472 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $115.16, for a total value of $1,321,115.52. Following the transaction, the chief operating officer now directly owns 37,888 shares of the company’s stock, valued at approximately $4,363,182.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Andrew S. Marsh sold 600 shares of Entergy stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $120.03, for a total value of $72,018.00. Following the sale, the chief executive officer now directly owns 150,731 shares of the company’s stock, valued at approximately $18,092,241.93. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,610 shares of company stock worth $5,751,954. 0.39% of the stock is owned by company insiders.

Institutional Investors Weigh In On Entergy

Several large investors have recently made changes to their positions in ETR. Fortitude Family Office LLC lifted its stake in Entergy by 423.8% in the third quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 178 shares during the last quarter. Cetera Trust Company N.A acquired a new position in shares of Entergy during the 3rd quarter worth $29,000. Iron Horse Wealth Management LLC bought a new position in shares of Entergy during the 2nd quarter valued at $25,000. Heritage Wealth Advisors lifted its stake in shares of Entergy by 2,172.7% in the 1st quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 239 shares during the last quarter. Finally, American National Bank boosted its holdings in Entergy by 93.7% in the second quarter. American National Bank now owns 277 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 134 shares in the last quarter. Institutional investors own 88.07% of the company’s stock.

Entergy Company Profile

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.