Entergy (NYSE:ETR) Given New $119.00 Price Target at Morgan Stanley

Entergy (NYSE:ETR) had its price target boosted by equities researchers at Morgan Stanley from $117.00 to $119.00 in a research report issued to clients and investors on Monday, Analyst Ratings Network reports. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price objective points to a potential upside of 15.29% from the stock’s current price.

A number of other research firms have also weighed in on ETR. Vertical Research raised shares of Entergy from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a research report on Thursday, April 29th. Wells Fargo & Company lifted their price objective on shares of Entergy from $105.00 to $119.00 and gave the stock an “overweight” rating in a research report on Thursday, April 29th. Mizuho lifted their price objective on shares of Entergy from $105.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, March 30th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Entergy in a research report on Monday, March 15th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $116.86.

ETR opened at $103.22 on Monday. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.06 and a quick ratio of 0.81. The firm’s 50-day moving average price is $106.56. Entergy has a fifty-two week low of $85.78 and a fifty-two week high of $113.36. The company has a market capitalization of $20.75 billion, a price-to-earnings ratio of 12.95, a P/E/G ratio of 3.59 and a beta of 0.55.

Entergy (NYSE:ETR) last released its quarterly earnings results on Tuesday, April 27th. The utilities provider reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.30. Entergy had a net margin of 15.41% and a return on equity of 11.30%. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same period last year, the firm earned $1.14 earnings per share. As a group, analysts predict that Entergy will post 5.96 earnings per share for the current year.

In other news, insider Laura R. Landreaux sold 1,200 shares of Entergy stock in a transaction dated Friday, May 28th. The shares were sold at an average price of $104.93, for a total value of $125,916.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Marcus V. Brown sold 16,000 shares of the business’s stock in a transaction that occurred on Monday, May 3rd. The shares were sold at an average price of $110.04, for a total transaction of $1,760,640.00. The disclosure for this sale can be found here. Insiders sold 33,041 shares of company stock valued at $3,581,679 in the last quarter. Corporate insiders own 0.34% of the company’s stock.

Large investors have recently modified their holdings of the stock. Inspire Advisors LLC purchased a new position in Entergy during the fourth quarter valued at approximately $32,000. Alpha Paradigm Partners LLC purchased a new position in Entergy during the first quarter valued at approximately $34,000. Truvestments Capital LLC purchased a new position in Entergy during the fourth quarter valued at approximately $34,000. E Fund Management Co. Ltd. purchased a new position in Entergy during the first quarter valued at approximately $35,000. Finally, Tompkins Financial Corp purchased a new position in Entergy in the 4th quarter worth approximately $35,000. 85.34% of the stock is owned by institutional investors.

About Entergy

Entergy Corporation, together with its subsidiaries, engages in the production and distribution of electricity in the United States. The company generates electricity through gas/oil, nuclear, coal, hydro, and solar power sources. It operates in two segments, Utility and Entergy Wholesale Commodities.

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Analyst Recommendations for Entergy (NYSE:ETR)

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