Entergy (ETR) Price Target Raised to $105.00

Entergy (NYSE:ETR) had its target price hoisted by Morgan Stanley from $104.00 to $105.00 in a research report released on Thursday morning, BenzingaRatingsTable reports. They currently have an overweight rating on the utilities provider’s stock.

A number of other equities analysts also recently issued reports on ETR. Zacks Investment Research raised shares of Entergy from a hold rating to a buy rating and set a $99.00 price objective on the stock in a report on Monday, February 4th. ValuEngine raised shares of Entergy from a hold rating to a buy rating in a report on Wednesday, May 1st. Macquarie raised shares of Entergy from a neutral rating to an outperform rating in a report on Monday, March 11th. Finally, Wells Fargo & Co boosted their price target on shares of Entergy from $99.00 to $105.00 and gave the stock an outperform rating in a report on Thursday, February 21st. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $93.50.

ETR opened at $97.89 on Thursday. The company has a current ratio of 0.70, a quick ratio of 0.52 and a debt-to-equity ratio of 1.91. The firm has a market cap of $18.56 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 2.65 and a beta of 0.40. Entergy has a 1 year low of $75.45 and a 1 year high of $98.01.

Entergy (NYSE:ETR) last posted its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.94 by ($0.12). The firm had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Entergy had a return on equity of 15.17% and a net margin of 9.04%. During the same period in the prior year, the firm earned $0.83 earnings per share. On average, analysts expect that Entergy will post 5.28 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Thursday, May 9th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date is Wednesday, May 8th. Entergy’s dividend payout ratio (DPR) is currently 49.79%.

In related news, EVP Donald W. Vinci sold 7,300 shares of the business’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $92.12, for a total value of $672,476.00. Following the transaction, the executive vice president now directly owns 12,530 shares of the company’s stock, valued at approximately $1,154,263.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Leo P. Denault sold 44,279 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $97.50, for a total transaction of $4,317,202.50. The disclosure for this sale can be found here. Insiders sold a total of 98,383 shares of company stock worth $9,419,438 over the last three months. 0.27% of the stock is owned by insiders.

Large investors have recently modified their holdings of the stock. Vanguard Group Inc lifted its holdings in Entergy by 1.0% during the third quarter. Vanguard Group Inc now owns 21,656,660 shares of the utilities provider’s stock valued at $1,757,006,000 after purchasing an additional 218,066 shares during the last quarter. BlackRock Inc. lifted its holdings in Entergy by 2.7% during the fourth quarter. BlackRock Inc. now owns 16,276,978 shares of the utilities provider’s stock valued at $1,400,960,000 after purchasing an additional 421,339 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in Entergy by 8,450.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,844,755 shares of the utilities provider’s stock valued at $68,000 after purchasing an additional 5,776,402 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Entergy by 9.9% during the first quarter. Renaissance Technologies LLC now owns 4,264,833 shares of the utilities provider’s stock valued at $407,846,000 after purchasing an additional 385,100 shares during the last quarter. Finally, FMR LLC lifted its holdings in Entergy by 13.5% during the first quarter. FMR LLC now owns 3,784,148 shares of the utilities provider’s stock valued at $361,878,000 after purchasing an additional 448,737 shares during the last quarter. 89.77% of the stock is currently owned by institutional investors.

Entergy Company Profile

Entergy Corporation, together with its subsidiaries, engages in the production and distribution of electricity in the United States. It generates electricity through gas/oil, nuclear, coal, hydro, and solar power sources. The company's Utility segment generates, transmits, distributes, and sells electric power in portions of Arkansas, Mississippi, Texas, and Louisiana, including the City of New Orleans; and distributes natural gas.

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Analyst Recommendations for Entergy (NYSE:ETR)

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