Bank of America upgraded shares of Entergy (NYSE:ETR) from a neutral rating to a buy rating in a research note released on Tuesday, MarketBeat.com reports. They currently have $89.00 price objective on the utilities provider’s stock.
A number of other research analysts also recently commented on ETR. Morgan Stanley boosted their target price on Entergy from $82.00 to $84.00 and gave the company an underweight rating in a research note on Friday, September 8th. Citigroup upgraded Entergy from a neutral rating to a buy rating and set a $91.00 target price on the stock in a research note on Friday, October 13th. BidaskClub upgraded Entergy from a hold rating to a buy rating in a research note on Saturday, August 26th. Mizuho restated a hold rating and issued a $83.00 target price on shares of Entergy in a research note on Friday, October 27th. Finally, J P Morgan Chase & Co boosted their target price on Entergy from $83.00 to $84.00 and gave the company a neutral rating in a research note on Thursday, October 12th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $83.17.
Shares of Entergy (NYSE:ETR) traded down $0.66 during mid-day trading on Tuesday, hitting $82.66. The stock had a trading volume of 1,288,600 shares, compared to its average volume of 1,212,154. Entergy has a twelve month low of $69.63 and a twelve month high of $87.95. The company has a quick ratio of 0.58, a current ratio of 0.78 and a debt-to-equity ratio of 1.61. The stock has a market capitalization of $15,018.55, a P/E ratio of 12.32, a price-to-earnings-growth ratio of 1.72 and a beta of 0.55.
Entergy (NYSE:ETR) last issued its quarterly earnings results on Tuesday, October 24th. The utilities provider reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.24 by $0.11. Entergy had a positive return on equity of 14.76% and a negative net margin of 7.82%. The business had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the previous year, the company posted $2.31 earnings per share. analysts anticipate that Entergy will post 6.91 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Thursday, November 9th were given a $0.89 dividend. The ex-dividend date was Wednesday, November 8th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 4.31%. This is a boost from Entergy’s previous quarterly dividend of $0.87. Entergy’s payout ratio is currently -72.06%.
In other Entergy news, insider Charles L. Rice, Jr. sold 9,234 shares of the business’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $86.24, for a total value of $796,340.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Donald W. Vinci sold 6,594 shares of the business’s stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of $85.00, for a total value of $560,490.00. Following the completion of the sale, the executive vice president now directly owns 14,867 shares of the company’s stock, valued at approximately $1,263,695. The disclosure for this sale can be found here. Insiders sold 57,812 shares of company stock valued at $4,907,522 in the last ninety days. Insiders own 0.24% of the company’s stock.
Several large investors have recently made changes to their positions in the business. Advisory Services Network LLC lifted its position in shares of Entergy by 2.1% during the 2nd quarter. Advisory Services Network LLC now owns 2,335 shares of the utilities provider’s stock worth $179,000 after purchasing an additional 49 shares during the last quarter. Krilogy Financial LLC lifted its position in shares of Entergy by 1,116.0% during the 3rd quarter. Krilogy Financial LLC now owns 2,432 shares of the utilities provider’s stock worth $186,000 after purchasing an additional 2,232 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of Entergy by 3.0% during the 2nd quarter. Parallel Advisors LLC now owns 2,448 shares of the utilities provider’s stock worth $188,000 after purchasing an additional 71 shares during the last quarter. BlueMountain Capital Management LLC acquired a new position in shares of Entergy during the 2nd quarter worth about $204,000. Finally, Buckingham Asset Management LLC acquired a new position in shares of Entergy during the 3rd quarter worth about $212,000. 82.95% of the stock is owned by institutional investors.
Entergy 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.
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