Scotiabank Boosts Entergy (NYSE:ETR) Price Target to $82.50

Entergy (NYSE:ETR) had its target price lifted by equities research analysts at Scotiabank from $72.00 to $82.50 in a research report issued on Thursday,Benzinga reports. The firm presently has a “sector perform” rating on the utilities provider’s stock. Scotiabank’s target price would indicate a potential upside of 11.11% from the company’s previous close.

A number of other equities research analysts also recently issued reports on ETR. UBS Group boosted their price target on shares of Entergy from $72.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. BMO Capital Markets cut their target price on Entergy from $83.00 to $79.50 and set an “outperform” rating on the stock in a research report on Monday, November 18th. KeyCorp lowered Entergy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. Royal Bank of Canada boosted their price objective on Entergy from $68.50 to $70.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, Morgan Stanley raised Entergy from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $58.00 to $75.00 in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $77.40.

Entergy Trading Down 49.9 %

ETR opened at $74.25 on Thursday. The stock has a market capitalization of $15.92 billion, a PE ratio of 9.04, a P/E/G ratio of 2.47 and a beta of 0.71. Entergy has a one year low of $48.08 and a one year high of $79.04. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.59 and a current ratio of 0.89. The business’s 50 day moving average price is $72.12 and its 200 day moving average price is $62.86.

Entergy (NYSE:ETR) last announced its quarterly earnings results on Thursday, October 31st. The utilities provider reported $1.50 EPS for the quarter, beating the consensus estimate of $1.46 by $0.04. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.46 billion. Entergy had a return on equity of 9.53% and a net margin of 14.83%. During the same quarter in the prior year, the company posted $1.64 EPS. As a group, equities research analysts expect that Entergy will post 7.22 EPS for the current year.

Insider Activity at Entergy

In other news, insider Haley Fisackerly sold 8,268 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $74.52, for a total value of $616,090.02. Following the transaction, the insider now owns 4,032 shares in the company, valued at approximately $300,444.48. This represents a 67.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Peter S. Norgeot, Jr. sold 15,844 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $65.00, for a total value of $1,029,860.00. Following the sale, the chief operating officer now owns 69,986 shares of the company’s stock, valued at approximately $4,549,090. The trade was a 18.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,512 shares of company stock valued at $1,675,350 over the last quarter. 0.39% of the stock is owned by insiders.

Institutional Investors Weigh In On Entergy

Several hedge funds and other institutional investors have recently bought and sold shares of ETR. OneDigital Investment Advisors LLC grew its holdings in shares of Entergy by 2.1% during the third quarter. OneDigital Investment Advisors LLC now owns 3,427 shares of the utilities provider’s stock worth $451,000 after purchasing an additional 69 shares during the last quarter. Acropolis Investment Management LLC increased its position in Entergy by 0.8% during the third quarter. Acropolis Investment Management LLC now owns 8,836 shares of the utilities provider’s stock worth $1,163,000 after buying an additional 69 shares during the period. Great Valley Advisor Group Inc. lifted its stake in Entergy by 0.9% in the third quarter. Great Valley Advisor Group Inc. now owns 8,087 shares of the utilities provider’s stock valued at $1,065,000 after buying an additional 74 shares during the last quarter. Bank & Trust Co boosted its holdings in shares of Entergy by 12.8% in the third quarter. Bank & Trust Co now owns 795 shares of the utilities provider’s stock valued at $105,000 after acquiring an additional 90 shares during the period. Finally, Prossimo Advisors LLC grew its position in shares of Entergy by 1.5% during the third quarter. Prossimo Advisors LLC now owns 5,971 shares of the utilities provider’s stock worth $786,000 after acquiring an additional 90 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

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.