Entergy (NYSE:ETR) PT Raised to $114.00 at Morgan Stanley

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Entergy (NYSE:ETR) had its target price hoisted by stock analysts at Morgan Stanley from $111.00 to $114.00 in a note issued to investors on Wednesday, BenzingaRatingsTable reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s target price points to a potential upside of 2.42% from the stock’s current price.

Several other equities research analysts have also recently commented on ETR. Macquarie set a $100.00 target price on Entergy and gave the company a “buy” rating in a research note on Thursday, May 2nd. Zacks Investment Research cut Entergy from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. ValuEngine raised Entergy from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Finally, UBS Group set a $115.00 target price on Entergy and gave the company a “buy” rating in a research note on Monday, July 15th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Entergy has a consensus rating of “Buy” and a consensus price target of $99.78.

Shares of ETR opened at $111.31 on Wednesday. The stock has a fifty day moving average price of $106.12 and a two-hundred day moving average price of $98.42. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.52 and a current ratio of 0.73. Entergy has a 52-week low of $78.99 and a 52-week high of $111.78. The company has a market cap of $21.91 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 2.99 and a beta of 0.34.

Entergy (NYSE:ETR) last issued its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $1.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.03). Entergy had a net margin of 8.97% and a return on equity of 13.75%. The business had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the previous year, the firm posted $1.42 EPS. As a group, research analysts predict that Entergy will post 5.27 EPS for the current fiscal year.

In related news, Chairman Leo P. Denault sold 21,274 shares of Entergy stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $100.00, for a total transaction of $2,127,400.00. Following the completion of the sale, the chairman now directly owns 205,766 shares of the company’s stock, valued at $20,576,600. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Marcus V. Brown sold 21,445 shares of Entergy stock in a transaction on Monday, August 19th. The stock was sold at an average price of $110.00, for a total value of $2,358,950.00. Following the sale, the executive vice president now directly owns 38,411 shares of the company’s stock, valued at $4,225,210. The disclosure for this sale can be found here. Insiders sold a total of 116,313 shares of company stock valued at $12,299,975 over the last three months. Insiders own 0.27% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Entergy by 1.0% during the second quarter. Vanguard Group Inc. now owns 22,434,114 shares of the utilities provider’s stock worth $2,309,144,000 after purchasing an additional 227,146 shares during the period. BlackRock Inc. grew its stake in shares of Entergy by 4.0% during the second quarter. BlackRock Inc. now owns 15,716,038 shares of the utilities provider’s stock worth $1,617,651,000 after purchasing an additional 597,926 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Entergy by 8.0% during the second quarter. Price T Rowe Associates Inc. MD now owns 10,064,350 shares of the utilities provider’s stock worth $1,035,924,000 after purchasing an additional 744,690 shares during the period. Invesco Ltd. grew its stake in shares of Entergy by 6.2% during the second quarter. Invesco Ltd. now owns 9,569,197 shares of the utilities provider’s stock worth $984,957,000 after purchasing an additional 556,948 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of Entergy by 1.3% during the second quarter. Renaissance Technologies LLC now owns 4,318,733 shares of the utilities provider’s stock worth $444,527,000 after purchasing an additional 53,900 shares during the period. 83.49% of the stock is owned by institutional investors and hedge funds.

Entergy Company Profile

Entergy Corporation, together with its subsidiaries, engages in the production and distribution of electricity in the United States. It generates electricity through gas/oil, nuclear, coal, hydro, and solar power sources. The company's Utility segment generates, transmits, distributes, and sells electric power in portions of Arkansas, Mississippi, Texas, and Louisiana, including the City of New Orleans; and distributes natural gas.

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Analyst Recommendations for Entergy (NYSE:ETR)

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