Entergy (NYSE:ETR) had its price target cut by equities researchers at Morgan Stanley from $79.00 to $75.00 in a research report issued on Wednesday. The firm presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price objective indicates a potential downside of 2.77% from the company’s previous close.
A number of other equities analysts have also commented on ETR. Guggenheim reaffirmed a “buy” rating and issued a $94.00 price objective (up from $88.00) on shares of Entergy in a research note on Friday, February 23rd. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $90.00 price objective (down from $96.00) on shares of Entergy in a research note on Monday, February 26th. They noted that the move was a valuation call. JPMorgan Chase & Co. lifted their price objective on Entergy from $78.00 to $81.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 10th. ValuEngine lowered Entergy from a “buy” rating to a “hold” rating in a research note on Thursday, April 12th. Finally, Zacks Investment Research raised Entergy from a “hold” rating to a “strong-buy” rating and set a $90.00 price objective on the stock in a research note on Tuesday, April 17th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $85.23.
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Shares of ETR stock traded up $0.16 during mid-day trading on Wednesday, reaching $77.14. 28,255 shares of the stock traded hands, compared to its average volume of 1,612,914. Entergy has a 1-year low of $71.95 and a 1-year high of $87.95. The firm has a market capitalization of $13.75 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 1.69 and a beta of 0.46. The company has a current ratio of 0.70, a quick ratio of 0.52 and a debt-to-equity ratio of 1.96.
Entergy (NYSE:ETR) last announced its quarterly earnings results on Wednesday, April 25th. The utilities provider reported $1.16 EPS for the quarter, missing the Zacks’ consensus estimate of $1.30 by ($0.14). Entergy had a net margin of 4.21% and a return on equity of 16.19%. The firm had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same period in the previous year, the business posted $0.99 earnings per share. sell-side analysts predict that Entergy will post 6.41 earnings per share for the current fiscal year.
In other Entergy news, insider Phillip R. May, Jr. sold 7,700 shares of Entergy stock in a transaction that occurred on Friday, April 27th. The stock was sold at an average price of $82.00, for a total value of $631,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Haley Fisackerly sold 500 shares of Entergy stock in a transaction that occurred on Wednesday, May 23rd. The stock was sold at an average price of $78.07, for a total value of $39,035.00. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.
A number of hedge funds have recently modified their holdings of ETR. Advisors Preferred LLC increased its holdings in Entergy by 1,174.7% in the fourth quarter. Advisors Preferred LLC now owns 1,262 shares of the utilities provider’s stock worth $103,000 after purchasing an additional 1,163 shares in the last quarter. Synovus Financial Corp bought a new stake in Entergy in the first quarter worth approximately $111,000. Twin Tree Management LP bought a new stake in Entergy in the first quarter worth approximately $130,000. NuWave Investment Management LLC bought a new stake in Entergy in the fourth quarter worth approximately $193,000. Finally, Lombard Odier Asset Management Europe Ltd bought a new stake in Entergy in the fourth quarter worth approximately $203,000. Institutional investors and hedge funds own 85.75% of the company’s stock.
Entergy Corporation, together with its subsidiaries, engages in the production and distribution of electricity in the United States. It generates electricity through gas/oil, nuclear, coal, hydro, and solar power sources. The company's Utility segment generates, transmits, distributes, and sells electric power in portions of Arkansas, Mississippi, Texas, and Louisiana, including the City of New Orleans; and distributes natural gas.