Entergy (ETR) PT Raised to $93.00 at Bank of America

Entergy (NYSE:ETR) had its price objective boosted by analysts at Bank of America from $91.00 to $93.00 in a research note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the utilities provider’s stock. Bank of America’s target price would suggest a potential upside of 11.70% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on ETR. Morgan Stanley boosted their price objective on Entergy from $80.00 to $83.00 and gave the company an “equal weight” rating in a research note on Monday, July 16th. Scotiabank assumed coverage on Entergy in a research report on Tuesday, July 24th. They set a “hold” rating and a $84.00 price target on the stock. Citigroup upped their price target on Entergy from $88.00 to $89.00 and gave the company a “buy” rating in a research report on Wednesday, October 17th. Goldman Sachs Group upgraded Entergy from a “neutral” rating to a “buy” rating and upped their price target for the company from $87.00 to $88.00 in a research report on Thursday, July 19th. Finally, UBS Group upgraded Entergy from a “neutral” rating to a “buy” rating and upped their price target for the company from $85.00 to $92.00 in a research report on Friday, August 3rd. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Entergy presently has a consensus rating of “Buy” and a consensus target price of $89.04.

Shares of NYSE:ETR traded up $0.25 during midday trading on Thursday, reaching $83.26. The company had a trading volume of 1,279,446 shares, compared to its average volume of 1,703,342. Entergy has a 52-week low of $71.95 and a 52-week high of $87.95.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Wednesday, October 31st. The utilities provider reported $3.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.83 by $0.94. Entergy had a return on equity of 16.94% and a net margin of 4.01%. The business had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $2.85 billion. During the same period in the previous year, the business posted $2.35 EPS.

In related news, Director Alexis M. Herman sold 661 shares of the firm’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $83.76, for a total value of $55,365.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Paul D. Hinnenkamp sold 6,500 shares of the firm’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $85.00, for a total value of $552,500.00. Following the completion of the sale, the chief operating officer now directly owns 27,568 shares of the company’s stock, valued at approximately $2,343,280. The disclosure for this sale can be found here. Insiders sold 20,877 shares of company stock valued at $1,760,381 in the last ninety days. 0.24% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. BTC Capital Management Inc. raised its holdings in Entergy by 1.4% in the second quarter. BTC Capital Management Inc. now owns 43,863 shares of the utilities provider’s stock worth $3,542,000 after purchasing an additional 599 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Entergy by 2.6% during the second quarter. Commonwealth Equity Services LLC now owns 26,393 shares of the utilities provider’s stock valued at $2,132,000 after acquiring an additional 657 shares in the last quarter. Reinhart Partners Inc. increased its holdings in shares of Entergy by 0.3% during the third quarter. Reinhart Partners Inc. now owns 204,714 shares of the utilities provider’s stock valued at $16,608,000 after acquiring an additional 666 shares in the last quarter. Baird Financial Group Inc. increased its holdings in shares of Entergy by 3.8% during the second quarter. Baird Financial Group Inc. now owns 20,230 shares of the utilities provider’s stock valued at $1,634,000 after acquiring an additional 748 shares in the last quarter. Finally, Colony Group LLC increased its holdings in shares of Entergy by 4.5% during the second quarter. Colony Group LLC now owns 18,863 shares of the utilities provider’s stock valued at $1,524,000 after acquiring an additional 808 shares in the last quarter. 91.59% of the stock is owned by institutional investors.

Entergy Company Profile

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.

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