Entergy (NYSE:ETR) Rating Increased to Overweight at Barclays

Barclays upgraded shares of Entergy (NYSE:ETR) from an equal weight rating to an overweight rating in a research report sent to investors on Tuesday, Marketbeat reports. The brokerage currently has $138.00 price target on the utilities provider’s stock, up from their previous price target of $115.00.

A number of other equities research analysts also recently issued reports on the company. Mizuho increased their price target on Entergy from $107.00 to $114.00 and gave the stock a buy rating in a research report on Friday, May 31st. BMO Capital Markets increased their price target on Entergy from $124.00 to $131.00 and gave the stock an outperform rating in a research report on Monday, August 5th. Argus upgraded Entergy to a strong-buy rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. upped their target price on Entergy from $131.00 to $141.00 and gave the stock an overweight rating in a research note on Monday, August 12th. Finally, Bank of America upped their target price on Entergy from $135.00 to $138.00 and gave the stock a buy rating in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $125.35.

Entergy Price Performance

Entergy stock opened at $129.08 on Tuesday. Entergy has a 12 month low of $87.10 and a 12 month high of $129.66. The stock’s 50 day moving average is $117.28 and its 200-day moving average is $110.37. The company has a current ratio of 0.94, a quick ratio of 0.62 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $27.56 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 2.31 and a beta of 0.73.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.16. The business had revenue of $2.95 billion for the quarter, compared to the consensus estimate 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 business posted $1.84 earnings per share. Equities research analysts expect that Entergy will post 7.22 EPS for the current year.

Entergy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 13th were paid a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend was Tuesday, August 13th. Entergy’s payout ratio is 45.34%.

Insider Activity

In other news, CEO Andrew S. Marsh sold 3,200 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $121.46, for a total value of $388,672.00. Following the completion of the transaction, the chief executive officer now directly owns 150,731 shares in the company, valued at approximately $18,307,787.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Peter S. Norgeot, Jr. sold 3,250 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $122.56, for a total transaction of $398,320.00. Following the completion of the transaction, the chief operating officer now directly owns 34,993 shares of the company’s stock, valued at approximately $4,288,742.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Andrew S. Marsh sold 3,200 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $121.46, for a total value of $388,672.00. Following the transaction, the chief executive officer now directly owns 150,731 shares of the company’s stock, valued at $18,307,787.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,888 shares of company stock worth $5,110,766. Insiders own 0.39% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC bought a new position in Entergy during the 2nd quarter worth $3,876,000. Strategic Investment Solutions Inc. IL acquired a new stake in Entergy during the 2nd quarter worth about $42,000. Clearbridge Investments LLC grew its holdings in Entergy by 15.5% during the 2nd quarter. Clearbridge Investments LLC now owns 3,181 shares of the utilities provider’s stock worth $340,000 after acquiring an additional 427 shares during the period. Truist Financial Corp grew its holdings in Entergy by 42.0% during the 2nd quarter. Truist Financial Corp now owns 906,795 shares of the utilities provider’s stock worth $97,027,000 after acquiring an additional 268,004 shares during the period. Finally, Brandes Investment Partners LP acquired a new stake in Entergy during the 2nd quarter worth about $32,017,000. 88.07% of the stock is 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.