Entergy (NYSE:ETR) Cut to Sector Weight at KeyCorp

Entergy (NYSE:ETR) was downgraded by investment analysts at KeyCorp from an “overweight” rating to a “sector weight” rating in a research note issued on Wednesday,Briefing.com Automated Import reports.

A number of other analysts have also recently issued reports on the company. Bank of America cut Entergy from a “buy” rating to a “neutral” rating and upped their target price for the company from $138.00 to $154.00 in a research report on Monday, November 4th. UBS Group raised their price objective on Entergy from $144.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday. Barclays lifted their target price on Entergy from $137.00 to $152.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Royal Bank of Canada lifted their target price on Entergy from $137.00 to $140.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. boosted their price objective on Entergy from $131.00 to $141.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $153.19.

Entergy Stock Down 1.2 %

Shares of ETR stock opened at $151.34 on Wednesday. The stock has a 50 day moving average of $141.32 and a 200 day moving average of $123.74. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 1.77. The stock has a market cap of $32.45 billion, a P/E ratio of 18.43, a P/E/G ratio of 2.56 and a beta of 0.71. Entergy has a twelve month low of $96.15 and a twelve month high of $158.07.

Entergy shares are scheduled to split before the market opens on Friday, December 13th. The 2-1 split was announced on Thursday, October 31st. The newly minted shares will be issued to shareholders after the closing bell on Thursday, December 12th.

Entergy (NYSE:ETR) last posted its earnings results on Thursday, October 31st. The utilities provider reported $2.99 EPS for the quarter, beating analysts’ consensus estimates of $2.91 by $0.08. The company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.46 billion. Entergy had a return on equity of 9.53% and a net margin of 14.83%. During the same quarter in the previous year, the business earned $3.27 earnings per share. As a group, sell-side analysts expect that Entergy will post 7.22 EPS for the current year.

Insider Buying and Selling

In other Entergy news, insider Haley Fisackerly sold 4,134 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $149.03, for a total transaction of $616,090.02. Following the completion of the transaction, the insider now owns 2,016 shares of the company’s stock, valued at $300,444.48. The trade was a 67.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eliecer Viamontes sold 200 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $147.00, for a total transaction of $29,400.00. Following the transaction, the insider now directly owns 4,173 shares of the company’s stock, valued at approximately $613,431. This represents a 4.57 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,506 shares of company stock worth $2,073,670. Corporate insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ETR. State Street Corp raised its position in shares of Entergy by 1.1% during the third quarter. State Street Corp now owns 11,408,776 shares of the utilities provider’s stock valued at $1,501,509,000 after buying an additional 128,667 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Entergy by 12.4% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,926,492 shares of the utilities provider’s stock valued at $741,135,000 after buying an additional 763,834 shares during the last quarter. FMR LLC raised its position in shares of Entergy by 5.0% during the third quarter. FMR LLC now owns 6,613,647 shares of the utilities provider’s stock valued at $870,422,000 after buying an additional 315,750 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Entergy by 47.1% during the second quarter. Ameriprise Financial Inc. now owns 6,479,044 shares of the utilities provider’s stock valued at $693,260,000 after buying an additional 2,075,776 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Entergy by 53.0% during the third quarter. Franklin Resources Inc. now owns 5,718,859 shares of the utilities provider’s stock valued at $754,318,000 after buying an additional 1,981,611 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

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.