Entergy (NYSE:ETR) Price Target Cut to $159.00 by Analysts at BMO Capital Markets

Entergy (NYSE:ETR) had its price target reduced by investment analysts at BMO Capital Markets from $166.00 to $159.00 in a report issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the utilities provider’s stock. BMO Capital Markets’ target price points to a potential upside of 6.14% from the company’s previous close.

ETR has been the subject of a number of other research reports. Wells Fargo & Company increased their price target on Entergy from $137.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. UBS Group raised their price objective on Entergy from $143.00 to $144.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Bank of America lowered Entergy from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $138.00 to $154.00 in a research report on Monday, November 4th. Argus raised Entergy to a “strong-buy” rating in a research note on Wednesday, August 28th. Finally, Guggenheim raised their price target on Entergy from $145.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Entergy presently has an average rating of “Moderate Buy” and an average target price of $150.42.

Entergy Trading Up 0.5 %

Shares of NYSE:ETR traded up $0.68 during midday trading on Monday, reaching $149.80. The company had a trading volume of 224,680 shares, compared to its average volume of 1,610,219. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.59 and a current ratio of 0.89. Entergy has a 1-year low of $96.15 and a 1-year high of $156.85. The firm has a market cap of $32.12 billion, a price-to-earnings ratio of 18.28, a price-to-earnings-growth ratio of 2.49 and a beta of 0.71. The company has a fifty day simple moving average of $135.02 and a two-hundred day simple moving average of $120.19.

Entergy (NYSE:ETR) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $2.99 earnings per share for the quarter, beating analysts’ consensus estimates of $2.91 by $0.08. Entergy had a return on equity of 9.53% and a net margin of 14.83%. The business had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same quarter last year, the company posted $3.27 EPS. Research analysts predict that Entergy will post 7.21 earnings per share for the current year.

Insider Activity at Entergy

In other Entergy news, COO Peter S. Norgeot, Jr. sold 7,922 shares of Entergy stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $130.00, for a total value of $1,029,860.00. Following the transaction, the chief operating officer now directly owns 34,993 shares of the company’s stock, valued at $4,549,090. The trade was a 18.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Andrew S. Marsh sold 600 shares of Entergy stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $120.03, for a total value of $72,018.00. Following the completion of the transaction, the chief executive officer now directly owns 150,731 shares in the company, valued at approximately $18,092,241.93. This represents a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,472 shares of company stock valued at $5,076,328. Corporate insiders own 0.39% of the company’s stock.

Institutional Trading of Entergy

Several institutional investors have recently modified their holdings of the company. State Street Corp grew its holdings in shares of Entergy by 1.1% during the 3rd quarter. State Street Corp now owns 11,408,776 shares of the utilities provider’s stock worth $1,501,509,000 after purchasing an additional 128,667 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Entergy by 12.4% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,926,492 shares of the utilities provider’s stock worth $741,135,000 after purchasing an additional 763,834 shares in the last quarter. FMR LLC grew its holdings in shares of Entergy by 5.0% during the 3rd quarter. FMR LLC now owns 6,613,647 shares of the utilities provider’s stock worth $870,422,000 after purchasing an additional 315,750 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Entergy by 47.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,479,044 shares of the utilities provider’s stock worth $693,260,000 after purchasing an additional 2,075,776 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Entergy by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 4,965,257 shares of the utilities provider’s stock worth $651,206,000 after purchasing an additional 37,279 shares in the last quarter. 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.