Morgan Stanley Increases Entergy Corporation (ETR) Price Target to $84.00

Entergy Corporation (NYSE:ETR) had its price objective raised by Morgan Stanley from $82.00 to $84.00 in a research report released on Friday, September 8th. The brokerage currently has an underweight rating on the utilities provider’s stock.

Several other equities research analysts have also recently commented on ETR. BidaskClub raised Entergy Corporation from a sell rating to a hold rating in a report on Wednesday, August 2nd. BMO Capital Markets restated a hold rating and issued a $78.00 price target on shares of Entergy Corporation in a research report on Friday, August 4th. Zacks Investment Research upgraded shares of Entergy Corporation from a sell rating to a hold rating in a research report on Tuesday, June 27th. Jefferies Group LLC restated a hold rating on shares of Entergy Corporation in a research report on Friday, August 11th. Finally, ValuEngine upgraded shares of Entergy Corporation from a hold rating to a buy rating in a research report on Monday, August 7th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $78.33.

Shares of Entergy Corporation (NYSE ETR) traded down 0.34% during trading on Friday, reaching $78.87. The company’s stock had a trading volume of 1,513,207 shares. The stock has a 50 day moving average of $78.23 and a 200-day moving average of $77.05. The company’s market capitalization is $14.16 billion. Entergy Corporation has a 1-year low of $66.71 and a 1-year high of $81.83.

Entergy Corporation (NYSE:ETR) last released its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $3.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.20 by $1.91. The company had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.44 billion. Entergy Corporation had a positive return on equity of 14.08% and a negative net margin of 7.98%. During the same quarter in the previous year, the company posted $3.16 earnings per share. On average, analysts expect that Entergy Corporation will post $6.38 earnings per share for the current year.

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The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Thursday, August 10th were given a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend was Tuesday, August 8th. Entergy Corporation’s dividend payout ratio is currently -69.74%.

In other news, Director Alexis M. Herman sold 995 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $76.38, for a total transaction of $75,998.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Charles L. Rice, Jr. sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $78.95, for a total transaction of $78,950.00. The disclosure for this sale can be found here. Insiders have sold 3,495 shares of company stock valued at $271,313 in the last ninety days. 0.24% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in ETR. BlackRock Inc. lifted its holdings in Entergy Corporation by 3,574.9% in the first quarter. BlackRock Inc. now owns 16,089,684 shares of the utilities provider’s stock valued at $1,222,173,000 after buying an additional 15,651,863 shares during the period. Franklin Resources Inc. lifted its holdings in Entergy Corporation by 43.9% in the second quarter. Franklin Resources Inc. now owns 1,888,643 shares of the utilities provider’s stock valued at $144,991,000 after buying an additional 576,426 shares during the period. AJO LP lifted its holdings in Entergy Corporation by 16.0% in the second quarter. AJO LP now owns 3,518,543 shares of the utilities provider’s stock valued at $270,119,000 after buying an additional 485,602 shares during the period. Vanguard Group Inc. raised its holdings in Entergy Corporation by 2.4% in the first quarter. Vanguard Group Inc. now owns 19,927,324 shares of the utilities provider’s stock worth $1,513,680,000 after purchasing an additional 470,255 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Entergy Corporation by 99.4% in the second quarter. Principal Financial Group Inc. now owns 902,639 shares of the utilities provider’s stock worth $69,296,000 after purchasing an additional 449,986 shares during the period. Institutional investors and hedge funds own 84.07% of the company’s stock.

Entergy Corporation Company Profile

Entergy Corporation is a holding company. The Company is an integrated energy company engaged in electric power production and retail electric distribution operations. The Company operates through two business segments: Utility and Entergy Wholesale Commodities. The Utility segment includes the generation, transmission, distribution and sale of electric power to retail and wholesale customers in areas of Arkansas, Mississippi, Texas and Louisiana, including the City of New Orleans and operates a natural gas distribution business.

Analyst Recommendations for Entergy Corporation (NYSE:ETR)

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