Entergy (NYSE:ETR) Price Target Increased to $137.00 by Analysts at Wells Fargo & Company

Entergy (NYSE:ETR) had its target price upped by Wells Fargo & Company from $125.00 to $137.00 in a report published on Friday morning, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

A number of other analysts have also recently commented on ETR. BMO Capital Markets reduced their price objective on Entergy from $120.00 to $117.00 and set an outperform rating for the company in a research report on Monday, July 8th. KeyCorp upped their price objective on Entergy from $112.00 to $123.00 and gave the company an overweight rating in a research report on Monday, May 20th. Mizuho upped their price objective on Entergy from $107.00 to $114.00 and gave the company a buy rating in a research report on Friday, May 31st. Morgan Stanley reduced their price objective on Entergy from $103.00 to $98.00 and set an underweight rating for the company in a research report on Monday, June 24th. Finally, Scotiabank cut their price target on Entergy from $111.00 to $104.00 and set a sector perform rating for the company in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $117.12.

Entergy Stock Down 0.0 %

Shares of ETR stock traded down $0.02 during mid-day trading on Friday, hitting $120.80. The company’s stock had a trading volume of 2,484,812 shares, compared to its average volume of 1,386,426. Entergy has a 52-week low of $87.10 and a 52-week high of $123.61. The business has a 50-day moving average price of $109.08 and a 200 day moving average price of $105.69. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.45 and a current ratio of 0.94. The stock has a market cap of $25.80 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 2.29 and a beta of 0.71.

Entergy (NYSE:ETR) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.16. The firm had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.98 billion. Entergy had a return on equity of 10.10% and a net margin of 14.75%. During the same quarter in the previous year, the business earned $1.84 earnings per share. Research analysts predict that Entergy will post 7.21 EPS for the current fiscal year.

Entergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders 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 dividend yield of 3.74%. The ex-dividend date is Tuesday, August 13th. Entergy’s dividend payout ratio (DPR) is 45.34%.

Insider Transactions at Entergy

In other news, insider Haley Fisackerly sold 1,500 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $110.23, for a total value of $165,345.00. Following the completion of the transaction, the insider now owns 2,479 shares of the company’s stock, valued at $273,260.17. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CAO Reginald T. Jackson sold 9,229 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was 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 $235,465.86. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Haley Fisackerly sold 1,500 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were 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 of the company’s stock, valued at $273,260.17. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Entergy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tidemark LLC purchased a new stake in Entergy during the fourth quarter valued at approximately $25,000. Iron Horse Wealth Management LLC purchased a new stake in Entergy during the second quarter valued at approximately $25,000. Heritage Wealth Advisors raised its holdings in shares of 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 buying an additional 239 shares during the period. American National Bank raised its holdings in shares of 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 buying an additional 134 shares during the period. Finally, TruNorth Capital Management LLC purchased a new stake in shares of Entergy in the second quarter worth approximately $32,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

About Entergy

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.