Entergy (NYSE:ETR) PT Raised to $128.00

Entergy (NYSE:ETR) had its price target lifted by Guggenheim from $118.00 to $128.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the utilities provider’s stock. Guggenheim’s price target suggests a potential upside of 6.81% from the company’s previous close.

A number of other research firms also recently commented on ETR. Scotiabank cut their target price on shares of Entergy from $111.00 to $104.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. KeyCorp upped their target price on shares of Entergy from $112.00 to $123.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. BMO Capital Markets dropped their target price on shares of Entergy from $120.00 to $117.00 and set an “outperform” rating on the stock in a research note on Monday, July 8th. LADENBURG THALM/SH SH reaffirmed a “neutral” rating and issued a $109.50 price target (down previously from $117.00) on shares of Entergy in a research report on Wednesday, June 12th. Finally, Morgan Stanley decreased their target price on shares of Entergy from $103.00 to $98.00 and set an “underweight” rating for the company in a research report on Monday, June 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $117.12.

Entergy Price Performance

NYSE:ETR traded down $0.98 during midday trading on Friday, hitting $119.84. The company had a trading volume of 1,607,729 shares, compared to its average volume of 1,512,708. Entergy has a 52-week low of $87.10 and a 52-week high of $123.50. The stock’s fifty day moving average price is $108.85 and its 200-day moving average price is $105.57. The company has a market capitalization of $25.59 billion, a PE ratio of 12.02, a P/E/G ratio of 2.19 and a beta of 0.71. 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 issued its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.92 EPS for the quarter, beating the consensus estimate of $1.76 by $0.16. Entergy had a net margin of 17.75% and a return on equity of 10.20%. The firm had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the prior year, the firm posted $1.84 earnings per share. As a group, research analysts expect that Entergy will post 7.21 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Reginald T. Jackson sold 9,229 shares of Entergy stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $108.71, for a total value of $1,003,284.59. Following the transaction, the chief accounting officer now owns 2,166 shares of the company’s stock, valued at approximately $235,465.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Haley Fisackerly sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was 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 $273,260.17. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 value of $1,003,284.59. Following the completion of the sale, the chief accounting officer now owns 2,166 shares in the company, valued at $235,465.86. The disclosure for this sale can be found here. 0.39% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Entergy

Several large investors have recently made changes to their positions in ETR. CWM LLC grew its holdings in shares of Entergy by 15.6% during the fourth quarter. CWM LLC now owns 14,747 shares of the utilities provider’s stock worth $1,492,000 after buying an additional 1,989 shares in the last quarter. Financial Counselors Inc. raised its holdings in Entergy by 28.9% in the 4th quarter. Financial Counselors Inc. now owns 159,395 shares of the utilities provider’s stock valued at $16,129,000 after acquiring an additional 35,718 shares in the last quarter. Brendel Financial Advisors LLC bought a new position in shares of Entergy in the 4th quarter valued at $1,782,000. State Board of Administration of Florida Retirement System grew its position in Entergy by 6.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 234,595 shares of the utilities provider’s stock worth $25,275,000 after acquiring an additional 13,882 shares during the last quarter. Finally, Cetera Advisor Networks LLC lifted its holdings in Entergy by 11.1% during the 4th quarter. Cetera Advisor Networks LLC now owns 55,261 shares of the utilities provider’s stock worth $5,592,000 after buying an additional 5,509 shares during the period. Institutional investors and hedge funds own 88.07% of the company’s stock.

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.