Entergy (NYSE:ETR) Price Target Cut to $104.00

Entergy (NYSE:ETR) had its price target reduced by research analysts at Scotiabank from $111.00 to $104.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “sector perform” rating on the utilities provider’s stock. Scotiabank’s price objective would suggest a potential downside of 2.96% from the stock’s previous close.

ETR has been the topic of several other research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $117.00 target price on shares of Entergy in a research note on Monday, February 26th. KeyCorp lifted their target price on shares of Entergy from $108.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. BMO Capital Markets increased their price target on Entergy from $110.00 to $113.00 and gave the company an “outperform” rating in a research note on Monday, February 26th. Finally, Barclays decreased their price objective on Entergy from $108.00 to $107.00 and set an “equal weight” rating for the company in a research note on Monday, April 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $109.45.

Entergy Stock Performance

Shares of Entergy stock opened at $107.17 on Monday. The firm has a 50 day simple moving average of $102.96 and a 200 day simple moving average of $100.48. Entergy has a fifty-two week low of $87.10 and a fifty-two week high of $109.53. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.57 and a quick ratio of 0.32. The firm has a market cap of $22.85 billion, a P/E ratio of 9.66, a P/E/G ratio of 2.11 and a beta of 0.71.

Entergy (NYSE:ETR) last released its earnings results on Thursday, February 22nd. The utilities provider reported $0.52 EPS for the quarter, meeting the consensus estimate of $0.52. Entergy had a return on equity of 10.54% and a net margin of 19.41%. The company had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same period last year, the firm earned $0.51 EPS. Sell-side analysts predict that Entergy will post 7.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Entergy news, EVP Marcus V. Brown sold 8,500 shares of Entergy stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $102.84, for a total value of $874,140.00. Following the transaction, the executive vice president now owns 9,911 shares of the company’s stock, valued at $1,019,247.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Entergy news, insider Deanna D. Rodriguez sold 1,500 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $101.23, for a total transaction of $151,845.00. Following the completion of the transaction, the insider now owns 3,442 shares in the company, valued at approximately $348,433.66. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Marcus V. Brown sold 8,500 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $102.84, for a total value of $874,140.00. Following the completion of the sale, the executive vice president now owns 9,911 shares in the company, valued at $1,019,247.24. The disclosure for this sale can be found here. In the last three months, insiders sold 12,000 shares of company stock valued at $1,226,685. 0.54% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its position in Entergy by 157.1% in the third quarter. EverSource Wealth Advisors LLC now owns 270 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 165 shares in the last quarter. Tidemark LLC bought a new stake in Entergy during the fourth quarter worth about $25,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Entergy during the third quarter valued at approximately $32,000. Fortis Group Advisors LLC bought a new position in Entergy in the third quarter valued at approximately $32,000. Finally, OLD Point Trust & Financial Services N A acquired a new position in shares of Entergy during the 4th quarter worth approximately $35,000. 88.07% of the stock is currently owned by institutional investors.

About Entergy

Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. It generates, transmits, distributes, and sells electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, including the City of New Orleans; and distributes natural gas.