Scotiabank Upgrades Entergy (NYSE:ETR) to Outperform

Entergy (NYSE:ETR) was upgraded by Scotiabank from a “sector perform” rating to an “outperform” rating in a note issued to investors on Friday, Marketbeat.com reports. The firm presently has a $105.00 price objective on the utilities provider’s stock. Scotiabank’s target price points to a potential upside of 10.05% from the stock’s previous close.

A number of other research firms have also recently commented on ETR. JPMorgan Chase & Co. lifted their price objective 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. KeyCorp reaffirmed an “overweight” rating and set a $96.00 price objective (up from $88.00) on shares of Entergy in a research report on Thursday, July 31st. Raymond James Financial began coverage on shares of Entergy in a research report on Friday, June 13th. They set a “market perform” rating for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Entergy in a research report on Saturday, September 27th. Finally, Mizuho set a $97.00 price objective on shares of Entergy and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Thirteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $91.33.

Entergy Price Performance

NYSE:ETR opened at $95.41 on Friday. Entergy has a 1-year low of $64.38 and a 1-year high of $96.61. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. The firm has a fifty day simple moving average of $89.72 and a 200 day simple moving average of $85.28. The stock has a market capitalization of $42.59 billion, a PE ratio of 23.76, a P/E/G ratio of 2.60 and a beta of 0.62.

Entergy (NYSE:ETR) last released its earnings results on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.14. Entergy had a net margin of 14.35% and a return on equity of 11.52%. The business had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $3.11 billion. During the same period last year, the business earned $1.92 earnings per share. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. On average, research analysts expect that Entergy will post 3.88 EPS for the current fiscal year.

Insider Buying and Selling at Entergy

In other news, insider Haley Fisackerly sold 4,463 shares of Entergy 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 completion of the sale, the insider owned 3,318 shares of the company’s stock, valued at approximately $300,279. This trade represents a 57.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Entergy

Hedge funds and other institutional investors have recently modified their holdings of the company. Mattson Financial Services LLC raised its stake in Entergy by 100.0% in the first quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 150 shares in the last quarter. Atwood & Palmer Inc. raised its stake in Entergy by 135.7% in the second quarter. Atwood & Palmer Inc. now owns 330 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 190 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Entergy in the first quarter valued at about $28,000. Capital A Wealth Management LLC raised its stake in Entergy by 5,466.7% in the second quarter. Capital A Wealth Management LLC now owns 334 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 328 shares in the last quarter. Finally, GoalVest Advisory LLC raised its stake in Entergy by 5,733.3% in the second quarter. GoalVest Advisory LLC now owns 350 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 344 shares in 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.