JPMorgan Chase & Co. upgraded shares of Entergy (NYSE:ETR) from a neutral rating to an overweight rating in a research note issued to investors on Monday, BenzingaRatingsTable reports. The firm currently has $116.00 price objective on the utilities provider’s stock, up from their prior price objective of $105.00.
A number of other research analysts have also commented on ETR. Morgan Stanley lowered Entergy from an overweight rating to an equal weight rating and upped their target price for the company from $114.00 to $115.00 in a research note on Friday, September 6th. UBS Group set a $115.00 target price on Entergy and gave the company a buy rating in a research note on Monday, July 15th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $103.33.
Shares of NYSE ETR opened at $112.91 on Monday. The business has a fifty day simple moving average of $109.26 and a 200 day simple moving average of $100.66. The company has a current ratio of 0.73, a quick ratio of 0.52 and a debt-to-equity ratio of 1.76. The firm has a market capitalization of $22.39 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 3.06 and a beta of 0.29. Entergy has a one year low of $78.99 and a one year high of $115.90.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 8th were paid a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $3.64 annualized dividend and a yield of 3.22%. Entergy’s dividend payout ratio is currently 49.79%.
In other Entergy news, COO Paul D. Hinnenkamp sold 11,000 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $105.00, for a total transaction of $1,155,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Haley Fisackerly sold 2,250 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $105.00, for a total value of $236,250.00. The disclosure for this sale can be found here. Insiders have sold 84,939 shares of company stock valued at $8,896,045 over the last quarter. Corporate insiders own 0.27% of the company’s stock.
Large investors have recently made changes to their positions in the company. Coastal Investment Advisors Inc. increased its stake in shares of Entergy by 142.0% in the second quarter. Coastal Investment Advisors Inc. now owns 2,125 shares of the utilities provider’s stock valued at $219,000 after buying an additional 1,247 shares in the last quarter. Lantz Financial LLC increased its stake in shares of Entergy by 1.8% in the second quarter. Lantz Financial LLC now owns 13,480 shares of the utilities provider’s stock valued at $1,398,000 after buying an additional 239 shares in the last quarter. 6 Meridian boosted its holdings in Entergy by 1.9% in the second quarter. 6 Meridian now owns 5,606 shares of the utilities provider’s stock valued at $577,000 after acquiring an additional 104 shares during the last quarter. Bluescape Energy Partners LLC bought a new position in Entergy in the second quarter valued at about $26,176,000. Finally, Greenleaf Trust bought a new position in Entergy in the first quarter valued at about $209,000. Institutional investors own 86.64% of the company’s stock.
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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