Entergy (NYSE:ETR) Price Target Raised to $130.00

Entergy (NYSE:ETR) had its price target boosted by equities researchers at KeyCorp from $123.00 to $130.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. KeyCorp’s target price indicates a potential upside of 2.29% from the stock’s current price.

Several other research analysts also recently issued reports on ETR. Morgan Stanley upped their target price on shares of Entergy from $100.00 to $109.00 and gave the stock an “underweight” rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. lifted their price objective on Entergy from $131.00 to $141.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Barclays dropped their price target on shares of Entergy from $116.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday, July 22nd. Scotiabank increased their price objective on shares of Entergy from $115.00 to $119.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Finally, Mizuho increased their price target on Entergy from $107.00 to $114.00 and gave the company a “buy” rating in a report on Friday, May 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.58.

Entergy Trading Up 2.9 %

NYSE:ETR opened at $127.09 on Monday. Entergy has a one year low of $87.10 and a one year high of $127.34. The company’s 50-day simple moving average is $116.32 and its 200 day simple moving average is $109.98. The firm has a market capitalization of $27.18 billion, a P/E ratio of 12.75, a PEG ratio of 2.31 and a beta of 0.73. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.62.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.16. Entergy had a return on equity of 10.10% and a net margin of 14.75%. The business had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter in the previous year, the business earned $1.84 earnings per share. As a group, analysts forecast that Entergy will post 7.22 EPS for the current fiscal year.

Insider Buying and Selling at Entergy

In other news, CEO Andrew S. Marsh sold 3,200 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $121.46, for a total transaction of $388,672.00. Following the completion of the transaction, the chief executive officer now owns 150,731 shares in the company, valued at $18,307,787.26. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Entergy news, CEO Andrew S. Marsh sold 3,200 shares of Entergy stock in a transaction that occurred on Monday, August 5th. The stock was 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 approximately $18,307,787.26. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Peter S. Norgeot, Jr. sold 3,250 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $122.56, for a total transaction of $398,320.00. Following the completion of the transaction, the chief operating officer now directly owns 34,993 shares of the company’s stock, valued at $4,288,742.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,888 shares of company stock worth $5,110,766. Insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Entergy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tidemark LLC purchased a new position in shares of Entergy in the 4th quarter worth approximately $25,000. Iron Horse Wealth Management LLC purchased a new position in Entergy during the second quarter worth $25,000. Heritage Wealth Advisors raised its stake in shares of Entergy by 2,172.7% in the first quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 239 shares during the period. American National Bank lifted its holdings in shares of Entergy by 93.7% in the 2nd quarter. American National Bank now owns 277 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 134 shares during the last quarter. Finally, TruNorth Capital Management LLC purchased a new stake in Entergy in the 2nd quarter worth about $32,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

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.