Entergy (NYSE:ETR) Price Target Raised to $97.00

Entergy (NYSE:ETR) had its price objective increased by Bank of America from $88.00 to $97.00 in a research report released on Thursday,Benzinga reports. They currently have a neutral rating on the utilities provider’s stock.

ETR has been the subject of a number of other research reports. BMO Capital Markets restated an “outperform” rating and issued a $104.00 target price (up previously from $96.00) on shares of Entergy in a research note on Tuesday. Barclays set a $100.00 target price on shares of Entergy and gave the stock an “overweight” rating in a research note on Monday, October 6th. Scotiabank set a $105.00 price objective on Entergy and gave the company an “outperform” rating in a research report on Friday, October 3rd. Jefferies Financial Group began coverage on shares of Entergy in a report on Thursday, September 4th. They issued a “buy” rating and a $109.00 target price on the stock. Finally, Evercore ISI set a $98.00 price target on Entergy and gave the company an “in-line” rating in a research note on Monday, October 6th. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.57.

Entergy Stock Down 0.2%

Shares of NYSE:ETR opened at $95.80 on Thursday. The firm has a fifty day moving average price of $91.02 and a two-hundred day moving average price of $86.09. The company has a market cap of $42.77 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 2.61 and a beta of 0.62. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.80 and a quick ratio of 0.52. Entergy has a one year low of $66.75 and a one year high of $98.58.

Entergy (NYSE:ETR) last released its earnings results on Friday, July 8th. The utilities provider reported $0.71 EPS for the quarter. The business had revenue of $2.37 billion for the quarter. Entergy had a return on equity of 11.52% and a net margin of 14.35%. Analysts anticipate that Entergy will post 3.88 EPS for the current fiscal year.

Entergy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 13th were issued a $0.60 dividend. The ex-dividend date was Wednesday, August 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.5%. Entergy’s payout ratio is presently 59.85%.

Insider Activity

In other Entergy news, insider Haley Fisackerly sold 4,463 shares of Entergy stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $90.50, for a total value of $403,901.50. Following the transaction, the insider owned 3,318 shares in the company, valued at $300,279. The trade was a 57.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.39% of the company’s stock.

Institutional Trading of Entergy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Entergy during the second quarter valued at $468,628,000. Boston Partners grew its position in shares of Entergy by 114.9% in the second quarter. Boston Partners now owns 6,940,628 shares of the utilities provider’s stock valued at $578,531,000 after purchasing an additional 3,710,814 shares during the period. TD Asset Management Inc boosted its stake in shares of Entergy by 964.8% in the first quarter. TD Asset Management Inc now owns 3,055,698 shares of the utilities provider’s stock worth $261,232,000 after acquiring an additional 2,768,734 shares during the last quarter. Vanguard Group Inc. raised its holdings in Entergy by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 54,828,994 shares of the utilities provider’s stock valued at $4,687,331,000 after acquiring an additional 2,695,348 shares during the last quarter. Finally, Alkeon Capital Management LLC acquired a new stake in shares of Entergy in the 1st quarter worth $194,429,000. Hedge funds and other institutional investors 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.