Entergy (NYSE:ETR) Price Target Increased to $140.00 by Analysts at Royal Bank of Canada

Entergy (NYSE:ETR) had its price objective lifted by Royal Bank of Canada from $137.00 to $140.00 in a research report released on Monday, Benzinga reports. The brokerage currently has an outperform rating on the utilities provider’s stock.

ETR has been the subject of several other research reports. Barclays dropped their price target on shares of Entergy from $138.00 to $137.00 and set an “overweight” rating for the company in a research report on Monday, October 7th. Argus raised shares of Entergy to a “strong-buy” rating in a research note on Wednesday, August 28th. Guggenheim upped their price objective on shares of Entergy from $118.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Morgan Stanley upped their price objective on shares of Entergy from $109.00 to $115.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th. Finally, KeyCorp upped their price objective on shares of Entergy from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $130.96.

Entergy Stock Up 0.7 %

Shares of ETR opened at $134.32 on Monday. Entergy has a 52 week low of $90.78 and a 52 week high of $134.63. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.62 and a current ratio of 0.94. The firm has a market capitalization of $28.68 billion, a P/E ratio of 13.47, a P/E/G ratio of 2.46 and a beta of 0.74. The company has a 50-day simple moving average of $124.96 and a 200-day simple moving average of $114.40.

Entergy (NYSE:ETR) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.16. Entergy had a net margin of 14.75% and a return on equity of 10.10%. The firm had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the prior year, the business posted $1.84 earnings per share. On average, equities research analysts expect that Entergy will post 7.22 earnings per share for the current year.

Entergy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 13th were given a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 3.37%. The ex-dividend date was Tuesday, August 13th. Entergy’s payout ratio is 45.34%.

Insider Activity

In related news, COO Peter S. Norgeot, Jr. sold 7,922 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $130.00, for a total value of $1,029,860.00. Following the completion of the sale, the chief operating officer now owns 34,993 shares in the company, valued at approximately $4,549,090. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, COO Peter S. Norgeot, Jr. sold 7,922 shares of Entergy stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $130.00, for a total transaction of $1,029,860.00. Following the transaction, the chief operating officer now owns 34,993 shares of the company’s stock, valued at $4,549,090. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew S. Marsh sold 19,200 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $120.35, for a total transaction of $2,310,720.00. Following the completion of the sale, the chief executive officer now directly owns 150,731 shares of the company’s stock, valued at $18,140,475.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,810 shares of company stock valued at $6,140,626 in the last 90 days. 0.39% of the stock is owned by company insiders.

Hedge Funds Weigh In On Entergy

Institutional investors and hedge funds have recently modified their holdings of the business. Bleakley Financial Group LLC boosted its holdings in shares of Entergy by 2.7% in the third quarter. Bleakley Financial Group LLC now owns 10,697 shares of the utilities provider’s stock valued at $1,408,000 after buying an additional 281 shares during the period. Global Retirement Partners LLC lifted its position in Entergy by 4.3% in the 3rd quarter. Global Retirement Partners LLC now owns 7,629 shares of the utilities provider’s stock valued at $1,004,000 after acquiring an additional 317 shares in the last quarter. Alliance Wealth Advisors LLC boosted its stake in Entergy by 3.7% in the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,591 shares of the utilities provider’s stock worth $341,000 after purchasing an additional 92 shares during the period. B.O.S.S. Retirement Advisors LLC increased its holdings in Entergy by 2.9% during the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 14,365 shares of the utilities provider’s stock worth $1,891,000 after purchasing an additional 405 shares in the last quarter. Finally, NBC Securities Inc. raised its stake in shares of Entergy by 4,629.8% in the 3rd quarter. NBC Securities Inc. now owns 24,311 shares of the utilities provider’s stock valued at $3,199,000 after purchasing an additional 23,797 shares during the period. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Entergy Company Profile

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.