Entergy (NYSE:ETR) Price Target Increased to $138.00 by Analysts at Bank of America

Entergy (NYSE:ETR) had its price objective upped by research analysts at Bank of America from $135.00 to $138.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the utilities provider’s stock. Bank of America‘s price objective would indicate a potential upside of 14.34% from the company’s current price.

Several other research analysts have also issued reports on the company. BMO Capital Markets increased their price target on Entergy from $124.00 to $131.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Morgan Stanley raised their target price on Entergy from $100.00 to $109.00 and gave the company an “underweight” rating in a report on Friday, August 23rd. Mizuho raised their target price on Entergy from $107.00 to $114.00 and gave the company a “buy” rating in a report on Friday, May 31st. LADENBURG THALM/SH SH restated a “neutral” rating and issued a $109.50 target price (down previously from $117.00) on shares of Entergy in a report on Wednesday, June 12th. Finally, Guggenheim raised their target price on Entergy from $118.00 to $128.00 and gave the company a “buy” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $123.04.

Entergy Stock Up 0.7 %

Shares of NYSE:ETR opened at $120.69 on Thursday. The business’s 50 day simple moving average is $112.75 and its two-hundred day simple moving average is $108.14. The firm has a market cap of $25.77 billion, a P/E ratio of 12.11, a PEG ratio of 2.29 and a beta of 0.71. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.45 and a current ratio of 0.94. Entergy has a 52-week low of $87.10 and a 52-week high of $123.61.

Entergy (NYSE:ETR) last announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.16. The business had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.98 billion. Entergy had a return on equity of 10.10% and a net margin of 14.75%. During the same quarter in the prior year, the company earned $1.84 earnings per share. As a group, research analysts forecast that Entergy will post 7.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other Entergy news, CEO Andrew S. Marsh sold 600 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $120.03, for a total value of $72,018.00. Following the completion of the sale, the chief executive officer now directly owns 150,731 shares of the company’s stock, valued at $18,092,241.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Peter S. Norgeot, Jr. sold 11,472 shares of Entergy stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.16, for a total value of $1,321,115.52. Following the completion of the transaction, the chief operating officer now directly owns 37,888 shares in the company, valued at $4,363,182.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 completion of the transaction, the chief executive officer now owns 150,731 shares of the company’s stock, valued at $18,092,241.93. The disclosure for this sale can be found here. Insiders sold 15,272 shares of company stock valued at $1,781,806 over the last ninety days. 0.39% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Entergy

Institutional investors have recently added to or reduced their stakes in the business. Tidemark LLC bought a new position in Entergy in the 4th quarter worth about $25,000. Iron Horse Wealth Management LLC bought a new position in Entergy in the 2nd quarter worth about $25,000. Heritage Wealth Advisors increased its stake in Entergy by 2,172.7% in the 1st quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 239 shares during the last quarter. American National Bank increased its stake in Entergy by 93.7% in the 2nd quarter. American National Bank now owns 277 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 134 shares during the last quarter. Finally, TruNorth Capital Management LLC bought a new position in Entergy in the 2nd quarter worth about $32,000. 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.