Entergy (NYSE:ETR) PT Lowered to $98.00

Entergy (NYSE:ETR) had its price target cut by equities research analysts at Morgan Stanley from $103.00 to $98.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s price objective suggests a potential downside of 8.11% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Scotiabank cut their price target on shares of Entergy from $111.00 to $104.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. BMO Capital Markets lifted their target price on shares of Entergy from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, June 6th. Royal Bank of Canada reissued an “outperform” rating and set a $117.00 price target on shares of Entergy in a research report on Monday, February 26th. Mizuho lifted their price target on shares of Entergy from $107.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Finally, Barclays lifted their price target on shares of Entergy from $107.00 to $116.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $113.73.

Entergy Price Performance

Shares of NYSE:ETR opened at $106.65 on Monday. The stock has a market cap of $22.77 billion, a PE ratio of 10.70, a PEG ratio of 2.00 and a beta of 0.73. The company’s fifty day moving average is $108.76 and its 200 day moving average is $104.22. Entergy has a 52 week low of $87.10 and a 52 week high of $114.28. The company has a quick ratio of 0.45, a current ratio of 0.69 and a debt-to-equity ratio of 1.68.

Entergy (NYSE:ETR) last announced its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.36). The firm had revenue of $31.17 billion during the quarter, compared to the consensus estimate of $3.16 billion. Entergy had a return on equity of 10.20% and a net margin of 17.75%. Entergy’s revenue was down .5% on a year-over-year basis. During the same period last year, the business earned $1.14 EPS. Research analysts anticipate that Entergy will post 7.23 earnings per share for the current year.

Insider Activity

In related news, insider Haley Fisackerly sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $110.23, for a total transaction of $165,345.00. Following the completion of the sale, the insider now directly owns 2,479 shares in the company, valued at $273,260.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Reginald T. Jackson sold 9,229 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $108.71, for a total transaction of $1,003,284.59. Following the sale, the chief accounting officer now owns 2,166 shares of the company’s stock, valued at $235,465.86. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Haley Fisackerly sold 1,500 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $110.23, for a total transaction of $165,345.00. Following the sale, the insider now directly owns 2,479 shares in the company, valued at approximately $273,260.17. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ETR. Capital International Investors boosted its holdings in shares of Entergy by 64.2% in the 1st quarter. Capital International Investors now owns 4,170,045 shares of the utilities provider’s stock valued at $440,690,000 after buying an additional 1,630,057 shares in the last quarter. Norges Bank purchased a new position in Entergy during the 4th quarter worth approximately $127,675,000. Confluence Investment Management LLC purchased a new position in shares of Entergy during the 1st quarter valued at approximately $92,257,000. Franklin Resources Inc. increased its holdings in shares of Entergy by 25.2% during the 4th quarter. Franklin Resources Inc. now owns 3,961,859 shares of the utilities provider’s stock valued at $400,901,000 after purchasing an additional 796,316 shares in the last quarter. Finally, ClearBridge Investments Ltd grew its stake in Entergy by 29.3% in the 4th quarter. ClearBridge Investments Ltd now owns 3,115,468 shares of the utilities provider’s stock valued at $315,254,000 after acquiring an additional 706,059 shares during the period. 88.07% of the stock is currently owned by institutional investors.

About Entergy

Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. It generates, transmits, distributes, and sells electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, including the City of New Orleans; and distributes natural gas.