Entergy (NYSE:ETR) Price Target Raised to $180.00

Entergy (NYSE:ETR) had its price target raised by UBS Group from $144.00 to $180.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a buy rating on the utilities provider’s stock.

A number of other analysts also recently issued reports on the company. 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 report on Monday, October 14th. KeyCorp lifted their target price on Entergy from $143.00 to $162.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Bank of America downgraded Entergy from a “buy” rating to a “neutral” rating and lifted their target price for the company from $138.00 to $154.00 in a research report on Monday, November 4th. Scotiabank boosted their price target on Entergy from $119.00 to $144.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. Finally, Argus raised Entergy to a “strong-buy” rating in a research report on Wednesday, August 28th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Entergy presently has an average rating of “Moderate Buy” and a consensus target price of $153.19.

Entergy Stock Performance

Shares of Entergy stock opened at $151.34 on Tuesday. The firm has a market cap of $32.45 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 2.56 and a beta of 0.71. The stock’s 50-day moving average is $141.32 and its 200-day moving average is $123.74. Entergy has a one year low of $96.15 and a one year high of $158.07. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.89 and a quick ratio of 0.59.

Entergy shares are going to split on the morning of Friday, December 13th. The 2-1 split was announced on Thursday, October 31st. The newly issued shares will be issued to shareholders after the market closes on Thursday, December 12th.

Entergy (NYSE:ETR) last released its earnings results on Thursday, October 31st. The utilities provider reported $2.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.91 by $0.08. The business 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. Equities analysts predict that Entergy will post 7.22 earnings per share for the current fiscal year.

Entergy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Wednesday, November 13th were issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend was Wednesday, November 13th. This is a boost from Entergy’s previous quarterly dividend of $1.13. Entergy’s payout ratio is currently 58.47%.

Insider Transactions at Entergy

In related news, insider Eliecer Viamontes sold 200 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $147.00, for a total value of $29,400.00. Following the completion of the sale, the insider now directly owns 4,173 shares in the company, valued at approximately $613,431. The trade was a 4.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Peter S. Norgeot, Jr. sold 7,922 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were 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 of the company’s stock, valued at approximately $4,549,090. This trade represents a 18.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,506 shares of company stock worth $2,073,670 over the last quarter. Company insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Entergy

Several institutional investors and hedge funds have recently added to or reduced their stakes in ETR. Iron Horse Wealth Management LLC bought a new stake in Entergy during the second quarter worth $25,000. Legacy Investment Solutions LLC bought a new stake in Entergy during the third quarter worth $27,000. Cetera Trust Company N.A bought a new stake in Entergy during the third quarter worth $29,000. Fortitude Family Office LLC lifted its stake in Entergy by 423.8% during the third quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 178 shares during the last quarter. Finally, American National Bank lifted its stake in Entergy by 93.7% during the second quarter. American National Bank now owns 277 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 134 shares during the last quarter. 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.