Entergy (NYSE:ETR) Price Target Raised to $115.00

Entergy (NYSE:ETR) had its target price increased by analysts at Morgan Stanley from $109.00 to $115.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s price target would suggest a potential downside of 11.54% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. KeyCorp increased their target price on shares of Entergy from $123.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. increased their target price on shares of Entergy from $131.00 to $141.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Guggenheim increased their target price on shares of Entergy from $118.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Bank of America upped their price target on shares of Entergy from $135.00 to $138.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, Argus upgraded shares of Entergy to a “strong-buy” rating in a research note on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $127.81.

Entergy Trading Down 0.0 %

Shares of ETR stock traded down $0.03 during trading hours on Wednesday, reaching $130.00. 740,662 shares of the stock were exchanged, compared to its average volume of 1,581,514. The firm has a market capitalization of $27.80 billion, a price-to-earnings ratio of 13.04, a price-to-earnings-growth ratio of 2.46 and a beta of 0.73. Entergy has a 12-month low of $87.10 and a 12-month high of $131.03. The company’s 50-day moving average price is $119.42 and its 200-day moving average price is $111.31. The company has a current ratio of 0.94, a quick ratio of 0.62 and a debt-to-equity ratio of 1.81.

Entergy (NYSE:ETR) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.16. Entergy had a net margin of 14.75% and a return on equity of 10.10%. The company had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same period in the previous year, the company earned $1.84 EPS. As a group, equities analysts anticipate that Entergy will post 7.22 earnings per share for the current year.

Insider Activity

In other Entergy news, CEO Andrew S. Marsh sold 600 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Andrew S. Marsh sold 600 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $120.03, for a total transaction of $72,018.00. Following the completion of the sale, the chief executive officer now owns 150,731 shares of the company’s stock, valued at approximately $18,092,241.93. The transaction 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 shares were sold at an average price of $121.46, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 50,810 shares of company stock worth $6,140,626 over the last three months. 0.39% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Entergy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Iron Horse Wealth Management LLC acquired a new position in Entergy in the 2nd quarter worth $25,000. Heritage Wealth Advisors raised 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 in the last quarter. American National Bank lifted its position in shares of Entergy by 93.7% during 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 during the last quarter. TruNorth Capital Management LLC acquired a new position in shares of Entergy in the 2nd quarter worth approximately $32,000. Finally, Rothschild Investment LLC acquired a new stake in shares of Entergy during the 2nd quarter valued at approximately $34,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.

About Entergy

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.