Entergy (NYSE:ETR - Get Free Report) was downgraded by stock analysts at Bank of America from a "buy" rating to a "neutral" rating in a research note issued on Monday, Briefing.com reports. They currently have a $154.00 target price on the utilities provider's stock, up from their prior target price of $138.00. Bank of America's price target would suggest a potential upside of 6.36% from the company's previous close.
Several other analysts have also recently weighed in on the stock. BMO Capital Markets lifted their price objective on shares of Entergy from $146.00 to $166.00 and gave the stock an "outperform" rating in a research note on Friday. Barclays dropped their price target on shares of Entergy from $138.00 to $137.00 and set an "overweight" rating for the company in a research report on Monday, October 7th. Wells Fargo & Company increased their price target on Entergy from $137.00 to $170.00 and gave the stock an "overweight" rating in a research report on Friday. JPMorgan Chase & Co. lifted their price objective on Entergy from $131.00 to $141.00 and gave the company an "overweight" rating in a report on Monday, August 12th. Finally, Scotiabank increased their target price on Entergy from $119.00 to $144.00 and gave the stock a "sector perform" rating in a report on Friday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Entergy has a consensus rating of "Moderate Buy" and an average price target of $145.88.
Check Out Our Latest Stock Analysis on Entergy
Shares of Entergy stock opened at $144.79 on Monday. The business has a fifty day simple moving average of $129.72 and a two-hundred day simple moving average of $117.33. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.89 and a quick ratio of 0.62. The company has a market capitalization of $30.96 billion, a price-to-earnings ratio of 17.64, a P/E/G ratio of 2.93 and a beta of 0.71. Entergy has a 1 year low of $94.85 and a 1 year high of $156.85.
Entergy (NYSE:ETR - Get Free Report) last announced its earnings results on Thursday, October 31st. The utilities provider reported $2.99 earnings per share for the quarter, topping analysts' consensus estimates of $2.91 by $0.08. Entergy had a return on equity of 9.53% and a net margin of 14.83%. The company had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.46 billion. During the same quarter last year, the company earned $3.27 earnings per share. Research analysts forecast that Entergy will post 7.21 EPS for the current year.
In related news, insider Eliecer Viamontes sold 5,166 shares of the firm's stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $120.00, for a total transaction of $619,920.00. Following the completion of the sale, the insider now owns 5,117 shares of the company's stock, valued at $614,040. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Eliecer Viamontes sold 5,166 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $120.00, for a total transaction of $619,920.00. Following the transaction, the insider now directly owns 5,117 shares of the company's stock, valued at $614,040. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew S. Marsh sold 600 shares of Entergy stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $120.03, for a total transaction of $72,018.00. Following the completion of the sale, the chief executive officer now directly owns 150,731 shares of the company's stock, valued at approximately $18,092,241.93. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,610 shares of company stock valued at $5,751,954. Corporate insiders own 0.39% of the company's stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ETR. Ameriprise Financial Inc. raised its position in shares of Entergy by 47.1% during the second quarter. Ameriprise Financial Inc. now owns 6,479,044 shares of the utilities provider's stock worth $693,260,000 after purchasing an additional 2,075,776 shares during the period. Capital International Investors raised its holdings in Entergy by 64.2% during the first quarter. Capital International Investors now owns 4,170,045 shares of the utilities provider's stock worth $440,690,000 after buying an additional 1,630,057 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Entergy by 185.5% in the second quarter. Millennium Management LLC now owns 1,876,672 shares of the utilities provider's stock valued at $200,804,000 after buying an additional 1,219,419 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Entergy by 12.4% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,926,492 shares of the utilities provider's stock valued at $741,135,000 after buying an additional 763,834 shares during the last quarter. Finally, Panagora Asset Management Inc. increased its position in shares of Entergy by 89.2% during the second quarter. Panagora Asset Management Inc. now owns 1,073,603 shares of the utilities provider's stock worth $114,876,000 after acquiring an additional 506,239 shares in the last quarter. Institutional investors own 88.07% of the company's stock.
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.
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