Entergy (ETR) Raised to Buy at Bank of America

Entergy (NYSE:ETR) was upgraded by Bank of America from a “neutral” rating to a “buy” rating in a research report issued on Tuesday.

A number of other equities analysts also recently issued reports on the company. Morgan Stanley raised their price target on Entergy from $82.00 to $84.00 and gave the stock an “underweight” rating in a research note on Friday, September 8th. Citigroup upgraded Entergy from a “neutral” rating to a “buy” rating and set a $91.00 price target on the stock in a research note on Friday, October 13th. BidaskClub upgraded Entergy from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Mizuho reaffirmed a “hold” rating and issued a $83.00 target price on shares of Entergy in a report on Friday, October 27th. Finally, J P Morgan Chase & Co raised their target price on Entergy from $83.00 to $84.00 and gave the stock a “neutral” rating in a report on Thursday, October 12th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $82.42.

Entergy (ETR) opened at $84.58 on Tuesday. The stock has a market capitalization of $15,148.33, a price-to-earnings ratio of 12.43, a PEG ratio of 1.73 and a beta of 0.55. Entergy has a 52 week low of $69.63 and a 52 week high of $87.95. The company has a quick ratio of 0.58, a current ratio of 0.78 and a debt-to-equity ratio of 1.61.

Entergy (NYSE:ETR) last released its quarterly earnings results on Tuesday, October 24th. The utilities provider reported $2.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.24 by $0.11. The firm had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.13 billion. Entergy had a positive return on equity of 14.76% and a negative net margin of 7.82%. During the same period last year, the business posted $2.31 EPS. research analysts predict that Entergy will post 6.93 earnings per share for the current year.

In related news, EVP Marcus V. Brown sold 1,500 shares of the firm’s stock in a transaction on Friday, October 13th. The stock was sold at an average price of $82.00, for a total value of $123,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Haley Fisackerly sold 4,800 shares of the firm’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $87.00, for a total value of $417,600.00. Following the completion of the transaction, the insider now directly owns 5,276 shares in the company, valued at $459,012. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,812 shares of company stock worth $4,907,522. 0.24% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of ETR. Advisory Services Network LLC raised its holdings in Entergy by 2.1% during the second quarter. Advisory Services Network LLC now owns 2,335 shares of the utilities provider’s stock valued at $179,000 after acquiring an additional 49 shares during the period. Krilogy Financial LLC raised its holdings in Entergy by 1,116.0% during the third quarter. Krilogy Financial LLC now owns 2,432 shares of the utilities provider’s stock valued at $186,000 after acquiring an additional 2,232 shares during the period. Parallel Advisors LLC raised its holdings in Entergy by 3.0% during the second quarter. Parallel Advisors LLC now owns 2,448 shares of the utilities provider’s stock valued at $188,000 after acquiring an additional 71 shares during the period. BlueMountain Capital Management LLC bought a new stake in Entergy during the second quarter valued at about $204,000. Finally, Buckingham Asset Management LLC bought a new stake in Entergy during the third quarter valued at about $212,000. 82.95% of the stock is currently owned by institutional investors and hedge funds.

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About Entergy

Entergy Corporation is a holding company. The Company is an integrated energy company engaged in electric power production and retail electric distribution operations. The Company operates through two business segments: Utility and Entergy Wholesale Commodities. The Utility segment includes the generation, transmission, distribution and sale of electric power to retail and wholesale customers in areas of Arkansas, Mississippi, Texas and Louisiana, including the City of New Orleans and operates a natural gas distribution business.

Analyst Recommendations for Entergy (NYSE:ETR)

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