KeyCorp Increases Entergy (NYSE:ETR) Price Target to $128.00

Entergy (NYSE:ETR) had its price objective upped by research analysts at KeyCorp from $118.00 to $128.00 in a research report issued on Monday, BenzingaRatingsTable reports. The firm currently has an “overweight” rating on the utilities provider’s stock. KeyCorp’s price objective indicates a potential upside of 7.19% from the company’s previous close.

A number of other analysts also recently issued reports on the stock. Morgan Stanley increased their price target on shares of Entergy from $112.00 to $116.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. ValuEngine downgraded shares of Entergy from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. increased their price target on shares of Entergy from $116.00 to $129.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Citigroup increased their price target on shares of Entergy from $109.00 to $134.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. They noted that the move was a valuation call. Finally, UBS Group set a $115.00 price objective on shares of Entergy and gave the company a “buy” rating in a report on Monday, July 15th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $111.70.

Shares of Entergy stock opened at $119.41 on Monday. The company has a current ratio of 0.73, a quick ratio of 0.52 and a debt-to-equity ratio of 1.76. Entergy has a 12-month low of $81.02 and a 12-month high of $119.85. The firm has a market capitalization of $23.72 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 3.20 and a beta of 0.29. The firm’s 50 day simple moving average is $116.08 and its two-hundred day simple moving average is $105.19.

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 the Zacks’ consensus estimate of $1.38 by ($0.03). Entergy had a net margin of 8.97% and a return on equity of 13.75%. The company had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the previous year, the company posted $1.42 EPS. On average, sell-side analysts predict that Entergy will post 5.27 EPS for the current fiscal year.

In other news, EVP A. Christopher Bakken III sold 6,750 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $108.00, for a total value of $729,000.00. Following the completion of the sale, the executive vice president now directly owns 32,628 shares in the company, valued at $3,523,824. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Marcus V. Brown sold 21,445 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $110.00, for a total transaction of $2,358,950.00. Following the completion of the sale, the executive vice president now owns 38,411 shares of the company’s stock, valued at $4,225,210. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,156 shares of company stock worth $6,188,830. Insiders own 0.27% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. AGF Investments LLC increased its position in Entergy by 22.3% during the second quarter. AGF Investments LLC now owns 548 shares of the utilities provider’s stock worth $56,000 after purchasing an additional 100 shares during the last quarter. Prospera Financial Services Inc increased its position in Entergy by 4.1% during the third quarter. Prospera Financial Services Inc now owns 2,551 shares of the utilities provider’s stock worth $299,000 after purchasing an additional 100 shares during the last quarter. 6 Meridian boosted its stake in Entergy by 1.9% during the second quarter. 6 Meridian now owns 5,606 shares of the utilities provider’s stock worth $577,000 after buying an additional 104 shares during the period. Signaturefd LLC boosted its stake in Entergy by 8.3% during the second quarter. Signaturefd LLC now owns 1,499 shares of the utilities provider’s stock worth $154,000 after buying an additional 115 shares during the period. Finally, Wesbanco Bank Inc. boosted its stake in Entergy by 0.8% during the second quarter. Wesbanco Bank Inc. now owns 15,020 shares of the utilities provider’s stock worth $1,546,000 after buying an additional 122 shares during the period. Hedge funds and other institutional investors own 86.24% of the company’s stock.

About Entergy

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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