Entergy (NYSE:ETR) had its target price hoisted by Morgan Stanley from $83.00 to $87.00 in a research report report published on Tuesday morning. They currently have a hold rating on the utilities provider’s stock.
A number of other research firms have also commented on ETR. Scotiabank initiated coverage on shares of Entergy in a report on Tuesday, July 24th. They set a hold rating and a $84.00 target price for the company. Bank of America lifted their target price on shares of Entergy from $89.00 to $90.00 and gave the stock a buy rating in a report on Thursday, August 23rd. Zacks Investment Research raised shares of Entergy from a sell rating to a hold rating in a report on Thursday, June 21st. JPMorgan Chase & Co. lifted their target price on shares of Entergy from $82.00 to $85.00 and gave the stock a neutral rating in a report on Wednesday, August 29th. Finally, UBS Group raised shares of Entergy from a neutral rating to a buy rating and lifted their target price for the stock from $85.00 to $92.00 in a report on Friday, August 3rd. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Entergy has an average rating of Buy and an average target price of $88.38.
ETR opened at $84.22 on Tuesday. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.57 and a quick ratio of 0.42. Entergy has a 52 week low of $71.95 and a 52 week high of $87.95. The firm has a market cap of $15.20 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 1.91 and a beta of 0.48.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 4th. Stockholders of record on Thursday, August 9th were issued a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 4.23%. The ex-dividend date was Wednesday, August 8th. Entergy’s dividend payout ratio (DPR) is 49.44%.
In other news, insider Phillip R. May, Jr. sold 3,000 shares of the business’s stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $84.00, for a total value of $252,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alexis M. Herman sold 661 shares of the business’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $83.76, for a total transaction of $55,365.36. The disclosure for this sale can be found here. Insiders sold a total of 37,377 shares of company stock valued at $3,141,926 in the last three months. 0.24% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Synovus Financial Corp bought a new stake in Entergy in the 1st quarter valued at $111,000. Braun Bostich & Associates Inc. lifted its position in Entergy by 1,320.4% in the 2nd quarter. Braun Bostich & Associates Inc. now owns 1,392 shares of the utilities provider’s stock valued at $112,000 after acquiring an additional 1,294 shares in the last quarter. Twin Tree Management LP bought a new stake in Entergy in the 1st quarter valued at $130,000. Whittier Trust Co. of Nevada Inc. lifted its position in Entergy by 402.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,855 shares of the utilities provider’s stock valued at $152,000 after acquiring an additional 1,486 shares in the last quarter. Finally, Advisors Preferred LLC lifted its position in Entergy by 200.8% in the 2nd quarter. Advisors Preferred LLC now owns 2,178 shares of the utilities provider’s stock valued at $176,000 after acquiring an additional 1,454 shares in the last quarter. 91.46% of the stock is currently owned by institutional investors and hedge funds.
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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