Entergy (NYSE:ETR) Price Target Raised to $141.00

Entergy (NYSE:ETR) had its price objective lifted by JPMorgan Chase & Co. from $131.00 to $141.00 in a research report report published on Monday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the utilities provider’s stock.

A number of other analysts have also recently weighed in on ETR. Guggenheim increased their price objective on Entergy from $118.00 to $128.00 and gave the stock a buy rating in a research report on Friday, August 2nd. Scotiabank upped their price target on Entergy from $104.00 to $115.00 and gave the stock a sector perform rating in a research note on Friday, August 2nd. BMO Capital Markets lifted their price objective on shares of Entergy from $124.00 to $131.00 and gave the company an outperform rating in a research report on Monday, August 5th. Morgan Stanley dropped their price objective on shares of Entergy from $103.00 to $98.00 and set an underweight rating on the stock in a research note on Monday, June 24th. Finally, Wells Fargo & Company raised their target price on shares of Entergy from $125.00 to $137.00 and gave the stock an overweight rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $119.73.

Entergy Stock Down 0.7 %

ETR stock opened at $117.13 on Monday. The company has a market cap of $25.01 billion, a price-to-earnings ratio of 11.75, a price-to-earnings-growth ratio of 2.29 and a beta of 0.71. The company has a fifty day moving average price of $110.39 and a 200 day moving average price of $106.80. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.45. Entergy has a 12 month low of $87.10 and a 12 month high of $123.61.

Entergy (NYSE:ETR) last announced its earnings results on Thursday, August 1st. The utilities provider reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.16. Entergy had a net margin of 14.75% and a return on equity of 10.10%. The business had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same period in the prior year, the company earned $1.84 earnings per share. Sell-side analysts expect that Entergy will post 7.21 earnings per share for the current year.

Entergy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 13th will be given a dividend of $1.13 per share. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $4.52 annualized dividend and a yield of 3.86%. Entergy’s payout ratio is currently 45.34%.

Insider Buying and Selling at Entergy

In related news, COO Peter S. Norgeot, Jr. sold 11,472 shares of Entergy stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.16, for a total transaction of $1,321,115.52. Following the completion of the transaction, the chief operating officer now directly owns 37,888 shares of the company’s stock, valued at $4,363,182.08. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Entergy news, CEO Andrew S. Marsh sold 3,200 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $121.46, for a total value of $388,672.00. Following the sale, the chief executive officer now owns 150,731 shares of the company’s stock, valued at $18,307,787.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Peter S. Norgeot, Jr. sold 11,472 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $115.16, for a total transaction of $1,321,115.52. Following the transaction, the chief operating officer now directly owns 37,888 shares of the company’s stock, valued at $4,363,182.08. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Entergy

A number of large investors have recently bought and sold shares of ETR. Creative Planning lifted its holdings in Entergy by 11.5% in the 2nd quarter. Creative Planning now owns 28,910 shares of the utilities provider’s stock valued at $3,093,000 after purchasing an additional 2,992 shares in the last quarter. Susquehanna Fundamental Investments LLC raised its position in shares of Entergy by 57.3% in the second quarter. Susquehanna Fundamental Investments LLC now owns 180,079 shares of the utilities provider’s stock valued at $19,268,000 after buying an additional 65,618 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Entergy by 4.2% during the second quarter. The Manufacturers Life Insurance Company now owns 461,175 shares of the utilities provider’s stock valued at $49,346,000 after buying an additional 18,422 shares during the period. Millennium Management LLC lifted its stake in shares of Entergy by 185.5% during the second quarter. Millennium Management LLC now owns 1,876,672 shares of the utilities provider’s stock valued at $200,804,000 after buying an additional 1,219,419 shares during the period. Finally, MBB Public Markets I LLC acquired a new stake in Entergy during the second quarter worth approximately $1,637,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

Entergy Company Profile

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.