Scotiabank Cuts Entergy (NYSE:ETR) Price Target to $82.00

Entergy (NYSE:ETR) had its price target reduced by Scotiabank from $165.00 to $82.00 in a research report released on Tuesday,Benzinga reports. They currently have a sector perform rating on the utilities provider’s stock.

ETR has been the topic of a number of other reports. Mizuho increased their target price on Entergy from $69.00 to $82.50 and gave the stock an “outperform” rating in a report on Monday, November 4th. Royal Bank of Canada raised their price objective on shares of Entergy from $68.50 to $70.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. KeyCorp downgraded shares of Entergy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. BMO Capital Markets dropped their price target on shares of Entergy from $83.00 to $79.50 and set an “outperform” rating on the stock in a research report on Monday, November 18th. Finally, Barclays boosted their price objective on Entergy from $68.50 to $76.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $77.37.

Entergy Trading Up 0.9 %

NYSE:ETR opened at $75.96 on Tuesday. Entergy has a 12 month low of $48.08 and a 12 month high of $79.04. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 1.77. The stock has a market capitalization of $32.57 billion, a price-to-earnings ratio of 18.50, a PEG ratio of 2.48 and a beta of 0.71. The firm has a fifty day simple moving average of $75.06 and a two-hundred day simple moving average of $65.54.

Entergy (NYSE:ETR) last issued its earnings results on Thursday, October 31st. The utilities provider reported $1.50 EPS for the quarter, beating the consensus estimate of $1.46 by $0.04. Entergy had a return on equity of 9.53% and a net margin of 14.83%. The company had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.46 billion. During the same period last year, the business posted $1.64 EPS. Analysts expect that Entergy will post 3.61 EPS for the current fiscal year.

Entergy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Wednesday, November 13th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend was Wednesday, November 13th. Entergy’s dividend payout ratio is presently 58.39%.

Insider Transactions at Entergy

In other Entergy news, insider Haley Fisackerly sold 8,268 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $74.52, for a total value of $616,090.02. Following the completion of the sale, the insider now directly owns 4,032 shares of the company’s stock, valued at $300,444.48. This trade represents a 67.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Deanna D. Rodriguez sold 6,088 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $73.94, for a total value of $450,146.72. Following the transaction, the insider now directly owns 3,952 shares in the company, valued at $292,210.88. This represents a 60.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,756 shares of company stock worth $1,095,637 in the last ninety days. Company insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Entergy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TD Asset Management Inc increased its stake in shares of Entergy by 7.7% in the second quarter. TD Asset Management Inc now owns 125,715 shares of the utilities provider’s stock worth $13,452,000 after purchasing an additional 9,017 shares in the last quarter. Private Advisor Group LLC raised its holdings in Entergy by 2.0% during the 2nd quarter. Private Advisor Group LLC now owns 6,318 shares of the utilities provider’s stock valued at $676,000 after acquiring an additional 123 shares during the period. Savant Capital LLC lifted its position in shares of Entergy by 214.6% during the second quarter. Savant Capital LLC now owns 18,407 shares of the utilities provider’s stock worth $1,970,000 after acquiring an additional 12,557 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Entergy by 341.8% in the second quarter. Acadian Asset Management LLC now owns 65,723 shares of the utilities provider’s stock worth $7,029,000 after acquiring an additional 50,846 shares during the period. Finally, Caprock Group LLC raised its stake in shares of Entergy by 16.4% during the 2nd quarter. Caprock Group LLC now owns 4,796 shares of the utilities provider’s stock valued at $513,000 after purchasing an additional 675 shares during the period. 88.07% of the stock is currently owned by institutional investors.

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.