Entergy (NYSE:ETR) Price Target Cut to $85.00 by Analysts at Morgan Stanley

Entergy (NYSE:ETR) had its price target reduced by Morgan Stanley from $86.00 to $85.00 in a report released on Thursday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the utilities provider’s stock.

Other equities analysts also recently issued research reports about the company. Barclays dropped their price target on Entergy from $91.00 to $87.00 and set an “overweight” rating on the stock in a research report on Thursday, July 10th. Mizuho set a $97.00 target price on shares of Entergy and gave the stock an “outperform” rating in a report on Thursday, July 31st. Jefferies Financial Group started coverage on shares of Entergy in a report on Thursday, September 4th. They issued a “buy” rating and a $109.00 price target for the company. JPMorgan Chase & Co. upped their price target on shares of Entergy from $102.00 to $103.00 and gave the stock an “overweight” rating in a research report on Thursday, August 21st. Finally, KeyCorp reissued an “overweight” rating and set a $96.00 price objective (up from $88.00) on shares of Entergy in a report on Thursday, July 31st. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Entergy currently has a consensus rating of “Moderate Buy” and an average target price of $89.80.

Entergy Stock Performance

Shares of NYSE:ETR opened at $90.26 on Thursday. The firm’s 50 day simple moving average is $89.03 and its 200-day simple moving average is $84.87. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.80. Entergy has a one year low of $64.38 and a one year high of $92.40. The firm has a market cap of $40.29 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 2.49 and a beta of 0.61.

Entergy (NYSE:ETR) last announced its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.14. The firm had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.11 billion. Entergy had a return on equity of 11.52% and a net margin of 14.35%.During the same quarter in the previous year, the business earned $1.92 earnings per share. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. As a group, equities analysts predict that Entergy will post 3.88 EPS for the current year.

Entergy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 13th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.7%. The ex-dividend date was Wednesday, August 13th. Entergy’s dividend payout ratio (DPR) is 59.85%.

Insider Transactions at Entergy

In other news, insider Haley Fisackerly sold 4,463 shares of the company’s stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $90.50, for a total transaction of $403,901.50. Following the transaction, the insider directly owned 3,318 shares of the company’s stock, valued at approximately $300,279. This represents a 57.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.39% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Mattson Financial Services LLC boosted its holdings in Entergy by 100.0% in the first quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 150 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Entergy in the 1st quarter valued at approximately $28,000. Atwood & Palmer Inc. boosted its stake in Entergy by 135.7% in the 2nd quarter. Atwood & Palmer Inc. now owns 330 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 190 shares in the last quarter. GoalVest Advisory LLC grew its position in Entergy by 5,733.3% during the 2nd quarter. GoalVest Advisory LLC now owns 350 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 344 shares during the last quarter. Finally, Grove Bank & Trust increased its stake in Entergy by 188.5% during the 1st quarter. Grove Bank & Trust now owns 352 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 230 shares in the last quarter. 88.07% of the stock is 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.