Entergy (NYSE:ETR) Price Target Cut to $98.00 by Analysts at Morgan Stanley

Entergy (NYSE:ETR) had its target price cut by Morgan Stanley from $103.00 to $98.00 in a research report report published on Monday, Benzinga reports. They currently have an underweight rating on the utilities provider’s stock.

A number of other brokerages have also recently issued reports on ETR. KeyCorp upped their target price on Entergy from $112.00 to $123.00 and gave the company an overweight rating in a research report on Monday, May 20th. LADENBURG THALM/SH SH reaffirmed a neutral rating and set a $109.50 price objective (down from $117.00) on shares of Entergy in a research note on Wednesday, June 12th. Barclays raised their target price on shares of Entergy from $107.00 to $116.00 and gave the stock an equal weight rating in a research note on Wednesday, June 5th. Royal Bank of Canada restated an outperform rating and issued a $117.00 price objective on shares of Entergy in a research report on Monday, February 26th. Finally, Scotiabank dropped their target price on Entergy from $111.00 to $104.00 and set a sector perform rating on the stock in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Entergy currently has an average rating of Moderate Buy and an average price target of $113.73.

Entergy Stock Performance

Shares of Entergy stock opened at $106.45 on Monday. The firm has a market capitalization of $22.73 billion, a P/E ratio of 10.69, a P/E/G ratio of 2.02 and a beta of 0.73. The company has a quick ratio of 0.45, a current ratio of 0.69 and a debt-to-equity ratio of 1.68. Entergy has a 52 week low of $87.10 and a 52 week high of $114.28. The firm’s 50 day moving average is $108.76 and its two-hundred day moving average is $104.22.

Entergy (NYSE:ETR) last posted its earnings results on Wednesday, April 24th. The utilities provider reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.36). Entergy had a net margin of 17.75% and a return on equity of 10.20%. The company had revenue of $31.17 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period last year, the business earned $1.14 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. Research analysts forecast that Entergy will post 7.22 EPS for the current fiscal year.

Entergy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Thursday, May 2nd were given a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date of this dividend was Wednesday, May 1st. Entergy’s dividend payout ratio is currently 45.34%.

Insider Buying and Selling

In other Entergy news, CAO Reginald T. Jackson sold 9,229 shares of Entergy stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $108.71, for a total transaction of $1,003,284.59. Following the completion of the transaction, the chief accounting officer now owns 2,166 shares in the company, valued at $235,465.86. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Haley Fisackerly sold 1,500 shares of Entergy stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $110.23, for a total transaction of $165,345.00. Following the completion of the sale, the insider now owns 2,479 shares in the company, valued at approximately $273,260.17. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Reginald T. Jackson sold 9,229 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $108.71, for a total transaction of $1,003,284.59. Following the completion of the transaction, the chief accounting officer now directly owns 2,166 shares of the company’s stock, valued at approximately $235,465.86. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Entergy

A number of institutional investors have recently modified their holdings of ETR. Tidemark LLC purchased a new stake in Entergy in the 4th quarter worth approximately $25,000. Heritage Wealth Advisors increased its stake in Entergy by 2,172.7% in the first quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 239 shares during the last quarter. Fortis Group Advisors LLC purchased a new position in Entergy during the third quarter worth about $32,000. OLD Point Trust & Financial Services N A acquired a new stake in Entergy in the 4th quarter worth about $35,000. Finally, Newbridge Financial Services Group Inc. grew its holdings in Entergy by 40.0% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 385 shares of the utilities provider’s stock valued at $41,000 after buying an additional 110 shares during the period. 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.