Bank of America Corporation began coverage on shares of Entergy Corporation (NYSE:ETR) in a research report released on Tuesday, October 24th, MarketBeat Ratings reports. The firm issued a neutral rating and a $86.00 target price on the utilities provider’s stock.
ETR has been the topic of a number of other research reports. ValuEngine upgraded Entergy Corporation from a hold rating to a buy rating in a report on Monday, August 7th. J P Morgan Chase & Co upped their price target on Entergy Corporation from $83.00 to $84.00 and gave the stock a neutral rating in a report on Thursday, October 12th. Jefferies Group LLC restated a hold rating and issued a $78.00 price target on shares of Entergy Corporation in a report on Thursday, July 6th. Morgan Stanley upped their price target on Entergy Corporation from $82.00 to $84.00 and gave the stock an underweight rating in a report on Friday, September 8th. Finally, Citigroup Inc. upgraded Entergy Corporation from a neutral rating to a buy rating and set a $91.00 price target on the stock in a report on Friday, October 13th. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $82.42.
Entergy Corporation (ETR) opened at $85.13 on Tuesday. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.78 and a quick ratio of 0.58. Entergy Corporation has a 1 year low of $66.73 and a 1 year high of $87.85. The firm has a market capitalization of $15,344.77, a P/E ratio of 12.59, a PEG ratio of 1.75 and a beta of 0.57.
Entergy Corporation (NYSE:ETR) last released its earnings results on Tuesday, October 24th. The utilities provider reported $2.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.24 by $0.11. Entergy Corporation had a positive return on equity of 14.76% and a negative net margin of 7.82%. The company had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the previous year, the firm posted $2.31 EPS. sell-side analysts expect that Entergy Corporation will post 6.93 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Thursday, November 9th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 4.18%. This is an increase from Entergy Corporation’s previous quarterly dividend of $0.87. The ex-dividend date is Wednesday, November 8th. Entergy Corporation’s dividend payout ratio (DPR) is -72.06%.
In other news, insider Haley Fisackerly sold 4,800 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $87.00, for a total transaction of $417,600.00. Following the transaction, the insider now directly owns 5,276 shares in the company, valued at approximately $459,012. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Sallie T. Rainer sold 1,000 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $77.78, for a total transaction of $77,780.00. The disclosure for this sale can be found here. Insiders sold 40,578 shares of company stock worth $3,408,022 in the last three months. 0.24% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Zeke Capital Advisors LLC acquired a new position in Entergy Corporation during the 3rd quarter worth $296,000. Cadence Capital Management LLC lifted its position in Entergy Corporation by 33.3% during the 3rd quarter. Cadence Capital Management LLC now owns 11,000 shares of the utilities provider’s stock worth $840,000 after acquiring an additional 2,745 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Entergy Corporation by 9.5% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,600 shares of the utilities provider’s stock worth $1,115,000 after acquiring an additional 1,267 shares during the last quarter. Trexquant Investment LP bought a new position in shares of Entergy Corporation during the 3rd quarter worth about $261,000. Finally, Pegasus Partners Ltd. increased its holdings in shares of Entergy Corporation by 43.7% during the 3rd quarter. Pegasus Partners Ltd. now owns 44,858 shares of the utilities provider’s stock worth $3,425,000 after purchasing an additional 13,640 shares during the period. 83.86% of the stock is owned by hedge funds and other institutional investors.
About Entergy Corporation
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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