Entergy (NYSE:ETR) Given New $116.00 Price Target at Morgan Stanley

Entergy (NYSE:ETR) had its target price raised by stock analysts at Morgan Stanley from $112.00 to $116.00 in a research note issued on Wednesday, BenzingaRatingsTable reports. The brokerage currently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price objective would indicate a potential downside of 0.55% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. UBS Group set a $115.00 price objective on shares of Entergy and gave the stock a “buy” rating in a research report on Monday, July 15th. JPMorgan Chase & Co. raised shares of Entergy from a “neutral” rating to an “overweight” rating and raised their price target for the company from $105.00 to $116.00 in a report on Monday, September 9th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $103.44.

ETR stock traded down $0.45 during midday trading on Wednesday, hitting $116.64. The company’s stock had a trading volume of 5,818 shares, compared to its average volume of 1,301,905. The firm has a market capitalization of $22.91 billion, a P/E ratio of 15.97, a PEG ratio of 3.13 and a beta of 0.28. The firm has a 50-day simple moving average of $111.58 and a 200-day simple moving average of $101.97. Entergy has a 52-week low of $78.99 and a 52-week high of $117.49. The company has a quick ratio of 0.52, a current ratio of 0.73 and a debt-to-equity ratio of 1.76.



Entergy (NYSE:ETR) last issued its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.03). Entergy had a return on equity of 13.75% and a net margin of 8.97%. The firm had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same quarter last year, the firm earned $1.42 earnings per share. On average, sell-side analysts expect that Entergy will post 5.27 earnings per share for the current fiscal year.

In other Entergy news, COO Paul D. Hinnenkamp sold 11,000 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $105.00, for a total transaction of $1,155,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Haley Fisackerly sold 2,250 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $105.00, for a total transaction of $236,250.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 84,939 shares of company stock valued at $8,896,045. Company insiders own 0.27% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. boosted its position in Entergy by 4.1% during the 1st quarter. Victory Capital Management Inc. now owns 2,777 shares of the utilities provider’s stock worth $266,000 after acquiring an additional 110 shares during the last quarter. Keybank National Association OH boosted its holdings in shares of Entergy by 40.5% in the 1st quarter. Keybank National Association OH now owns 7,208 shares of the utilities provider’s stock valued at $689,000 after buying an additional 2,077 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Entergy by 4.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,915 shares of the utilities provider’s stock valued at $1,618,000 after buying an additional 751 shares during the last quarter. Piedmont Investment Advisors Inc. boosted its holdings in shares of Entergy by 13.5% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 3,057 shares of the utilities provider’s stock valued at $292,000 after buying an additional 363 shares during the last quarter. Finally, Icon Wealth Partners LLC acquired a new stake in shares of Entergy in the 1st quarter valued at approximately $54,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

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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