Morgan Stanley Boosts Entergy (ETR) Price Target to $88.00
Entergy (NYSE:ETR) had its price target upped by equities researchers at Morgan Stanley from $86.00 to $88.00 in a research report issued to clients and investors on Wednesday. The firm presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price target would suggest a potential upside of 5.69% from the stock’s previous close.
Several other equities research analysts have also recently issued reports on the company. Bank of America raised Entergy from a “neutral” rating to a “buy” rating and set a $89.00 target price for the company in a research note on Tuesday. TheStreet cut Entergy from a “b-” rating to a “c+” rating in a research note on Wednesday, December 6th. Mizuho raised Entergy from a “neutral” rating to a “buy” rating in a research note on Friday, November 17th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $96.00 price objective (up from $90.00) on shares of Entergy in a research note on Wednesday, October 25th. Finally, Jefferies Group raised Entergy from a “hold” rating to a “buy” rating in a research note on Monday, October 16th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $83.17.
Entergy (NYSE:ETR) traded down $1.32 during mid-day trading on Wednesday, reaching $83.26. The company’s stock had a trading volume of 1,540,900 shares, compared to its average volume of 1,211,765. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.58 and a current ratio of 0.78. The firm has a market capitalization of $15,245.66, a PE ratio of 12.51, a price-to-earnings-growth ratio of 1.74 and a beta of 0.55. Entergy has a one year low of $69.63 and a one year high of $87.95.
Entergy (NYSE:ETR) last posted its earnings results on Tuesday, October 24th. The utilities provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.11. The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Entergy had a positive return on equity of 14.76% and a negative net margin of 7.82%. During the same quarter last year, the firm earned $2.31 earnings per share. analysts predict that Entergy will post 6.93 EPS for the current fiscal year.
In related news, insider Haley Fisackerly sold 4,800 shares of Entergy stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $87.00, for a total value of $417,600.00. Following the completion of the transaction, the insider now directly owns 5,276 shares in the company, valued at $459,012. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Marcus V. Brown sold 3,000 shares of Entergy stock in a transaction on Monday, November 13th. The shares were sold at an average price of $86.42, for a total value of $259,260.00. Following the completion of the transaction, the executive vice president now owns 22,264 shares of the company’s stock, valued at $1,924,054.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 57,812 shares of company stock valued at $4,907,522. 0.24% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in Entergy by 1.0% during the 2nd quarter. BlackRock Inc. now owns 16,243,801 shares of the utilities provider’s stock worth $1,247,035,000 after buying an additional 154,117 shares during the last quarter. AJO LP lifted its holdings in Entergy by 16.0% during the 2nd quarter. AJO LP now owns 3,518,543 shares of the utilities provider’s stock worth $270,119,000 after buying an additional 485,602 shares during the last quarter. Epoch Investment Partners Inc. lifted its holdings in Entergy by 1.1% during the 2nd quarter. Epoch Investment Partners Inc. now owns 3,273,973 shares of the utilities provider’s stock worth $251,343,000 after buying an additional 35,312 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Entergy by 43.9% during the 2nd quarter. Franklin Resources Inc. now owns 1,888,643 shares of the utilities provider’s stock worth $144,991,000 after buying an additional 576,426 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in Entergy by 2.8% during the 3rd quarter. Legal & General Group Plc now owns 1,165,237 shares of the utilities provider’s stock worth $88,976,000 after buying an additional 31,458 shares during the last quarter. Hedge funds and other institutional investors own 82.95% of the company’s stock.
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Entergy Corporation is a holding company. The Company is an integrated energy company engaged in electric power production and retail electric distribution operations. The Company operates through two business segments: Utility and Entergy Wholesale Commodities. The Utility segment includes the generation, transmission, distribution and sale of electric power to retail and wholesale customers in areas of Arkansas, Mississippi, Texas and Louisiana, including the City of New Orleans and operates a natural gas distribution business.
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