Entergy (NYSE:ETR) PT Raised to $128.00

Entergy (NYSE:ETR) had its price objective boosted by Guggenheim from $118.00 to $128.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the utilities provider’s stock.

A number of other brokerages have also weighed in on ETR. Barclays cut their price objective on Entergy from $116.00 to $115.00 and set an equal weight rating on the stock in a report on Monday, July 22nd. Morgan Stanley decreased their price objective on shares of Entergy from $103.00 to $98.00 and set an underweight rating for the company in a research note on Monday, June 24th. Scotiabank reduced their target price on shares of Entergy from $111.00 to $104.00 and set a sector perform rating for the company in a report on Monday, April 22nd. BMO Capital Markets lowered their price target on shares of Entergy from $120.00 to $117.00 and set an outperform rating on the stock in a report on Monday, July 8th. Finally, KeyCorp lifted their price objective on Entergy from $112.00 to $123.00 and gave the company an overweight rating in a research note on Monday, May 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Entergy currently has a consensus rating of Moderate Buy and an average target price of $118.19.

Entergy Stock Up 1.8 %

NYSE ETR traded up $2.06 during trading on Friday, reaching $117.57. 715,983 shares of the company’s stock traded hands, compared to its average volume of 1,515,237. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.45. The firm has a market cap of $25.11 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 2.29 and a beta of 0.71. Entergy has a 12-month low of $87.10 and a 12-month high of $123.61. The company’s 50 day simple moving average is $109.21 and its two-hundred day simple moving average is $105.87.

Entergy (NYSE:ETR) last announced its earnings results on Thursday, August 1st. The utilities provider reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.16. Entergy had a return on equity of 10.10% and a net margin of 14.75%. The company had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same period in the prior year, the company posted $1.84 EPS. As a group, sell-side analysts forecast that Entergy will post 7.21 EPS for the current fiscal year.

Entergy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 13th will be paid a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date is Tuesday, August 13th. Entergy’s dividend payout ratio is presently 45.34%.

Insiders Place Their Bets

In related news, insider Haley Fisackerly sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $110.23, for a total value of $165,345.00. Following the transaction, the insider now directly owns 2,479 shares in the company, valued at $273,260.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.39% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Entergy

A number of hedge funds have recently bought and sold shares of ETR. Tidemark LLC purchased a new position in Entergy in the fourth quarter worth approximately $25,000. Iron Horse Wealth Management LLC purchased a new position in Entergy in the second quarter worth approximately $25,000. Heritage Wealth Advisors lifted 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 worth $26,000 after acquiring an additional 239 shares during the last quarter. American National Bank lifted its stake in Entergy by 93.7% in the second quarter. American National Bank now owns 277 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 134 shares during the last quarter. Finally, TruNorth Capital Management LLC purchased a new position in Entergy in the second quarter worth approximately $32,000. 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.