Entergy (NYSE:ETR) Price Target Lowered to $114.00 at BMO Capital Markets

Entergy (NYSE:ETR) had its price objective decreased by BMO Capital Markets from $120.00 to $114.00 in a report issued on Wednesday morning, FlyOnTheWall reports.

A number of other research analysts have also commented on the company. Barclays started coverage on Entergy in a report on Wednesday, August 23rd. They set an equal weight rating and a $98.00 price target on the stock. Morgan Stanley lowered their price target on Entergy from $102.00 to $94.00 and set an underweight rating on the stock in a report on Wednesday, August 23rd. JPMorgan Chase & Co. raised their price target on Entergy from $121.00 to $124.00 and gave the company an overweight rating in a report on Thursday, August 17th. Bank of America lowered their price target on Entergy from $119.00 to $107.00 in a report on Sunday, May 21st. Finally, Guggenheim lowered their target price on Entergy from $124.00 to $110.00 in a report on Friday, July 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $114.42.

Entergy Stock Down 1.3 %

ETR stock opened at $96.72 on Wednesday. Entergy has a twelve month low of $94.01 and a twelve month high of $122.11. The company has a current ratio of 0.80, a quick ratio of 0.54 and a debt-to-equity ratio of 1.84. The company has a market capitalization of $20.45 billion, a P/E ratio of 14.74, a PEG ratio of 2.52 and a beta of 0.64. The firm has a 50 day simple moving average of $98.40 and a 200-day simple moving average of $102.44.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.15. Entergy had a return on equity of 10.22% and a net margin of 10.22%. The firm had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same period last year, the business posted $1.78 earnings per share. On average, equities research analysts predict that Entergy will post 6.69 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be given a dividend of $1.07 per share. The ex-dividend date is Thursday, August 10th. This represents a $4.28 dividend on an annualized basis and a yield of 4.43%. Entergy’s payout ratio is presently 65.24%.

Institutional Investors Weigh In On Entergy

A number of institutional investors have recently bought and sold shares of ETR. Federated Hermes Inc. boosted its position in Entergy by 25,465.1% during the 1st quarter. Federated Hermes Inc. now owns 2,398,774 shares of the utilities provider’s stock worth $258,444,000 after acquiring an additional 2,389,391 shares during the period. Zimmer Partners LP lifted its holdings in shares of Entergy by 16,815.8% during the 2nd quarter. Zimmer Partners LP now owns 1,319,436 shares of the utilities provider’s stock valued at $128,473,000 after buying an additional 1,311,636 shares during the last quarter. State Street Corp lifted its holdings in shares of Entergy by 8.1% during the 1st quarter. State Street Corp now owns 12,122,596 shares of the utilities provider’s stock valued at $1,415,313,000 after buying an additional 908,932 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Entergy by 64.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,944,167 shares of the utilities provider’s stock valued at $209,465,000 after buying an additional 762,393 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Entergy by 86.0% during the 4th quarter. Millennium Management LLC now owns 1,633,335 shares of the utilities provider’s stock valued at $183,750,000 after buying an additional 754,971 shares during the last quarter. 86.52% of the stock is currently owned by institutional investors and hedge funds.

About Entergy

Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. The company operates in two segments, Utility and Entergy Wholesale Commodities. The Utility segment 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.