Entergy (ETR) PT Raised to $80.00

Entergy (NYSE:ETR) had its price objective upped by equities researchers at Morgan Stanley from $75.00 to $80.00 in a research note issued to investors on Friday. The firm presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price target would indicate a potential downside of 0.07% from the company’s previous close.

ETR has been the topic of a number of other reports. TheStreet upgraded shares of Entergy from a “c” rating to a “b” rating in a report on Wednesday, April 25th. Citigroup boosted their target price on shares of Entergy from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday. Mizuho restated a “buy” rating and issued a $88.50 target price on shares of Entergy in a report on Thursday, April 19th. JPMorgan Chase & Co. boosted their target price on shares of Entergy from $81.00 to $82.00 and gave the stock a “neutral” rating in a report on Thursday, April 26th. Finally, Wolfe Research upgraded shares of Entergy from an “underperform” rating to a “market perform” rating in a report on Thursday, April 26th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $85.41.

ETR stock traded up $0.22 during mid-day trading on Friday, hitting $80.06. The company had a trading volume of 13,547 shares, compared to its average volume of 2,234,615. The stock has a market cap of $14.51 billion, a P/E ratio of 11.11, a PEG ratio of 1.79 and a beta of 0.46. Entergy has a 12-month low of $71.95 and a 12-month high of $87.95. The company has a quick ratio of 0.52, a current ratio of 0.70 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 consensus estimate of $1.30 by ($0.14). The company had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Entergy had a return on equity of 16.19% and a net margin of 4.21%. During the same quarter in the previous year, the firm earned $0.99 EPS. analysts anticipate that Entergy will post 6.41 EPS for the current fiscal year.

In related news, insider Phillip R. May, Jr. sold 7,700 shares of the company’s stock in a transaction dated Friday, April 27th. The shares were sold at an average price of $82.00, for a total transaction of $631,400.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Haley Fisackerly sold 500 shares of the company’s stock in a transaction dated Wednesday, May 23rd. The shares were sold at an average price of $78.07, for a total transaction of $39,035.00. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

A number of large investors have recently modified their holdings of ETR. Boston Partners bought a new position in Entergy during the 1st quarter valued at about $160,711,000. Millennium Management LLC grew its holdings in Entergy by 288.4% during the 4th quarter. Millennium Management LLC now owns 2,606,814 shares of the utilities provider’s stock valued at $212,169,000 after purchasing an additional 1,935,599 shares during the last quarter. Brookfield Asset Management Inc. bought a new position in Entergy during the 4th quarter valued at about $91,885,000. Renaissance Technologies LLC grew its holdings in Entergy by 32.4% during the 4th quarter. Renaissance Technologies LLC now owns 3,798,700 shares of the utilities provider’s stock valued at $309,176,000 after purchasing an additional 928,800 shares during the last quarter. Finally, OppenheimerFunds Inc. grew its holdings in Entergy by 76.8% during the 1st quarter. OppenheimerFunds Inc. now owns 1,373,823 shares of the utilities provider’s stock valued at $108,230,000 after purchasing an additional 596,888 shares during the last quarter. Institutional investors own 85.70% of the company’s stock.

About Entergy

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.

Analyst Recommendations for Entergy (NYSE:ETR)

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