Scotiabank Issues Pessimistic Forecast for Entergy (NYSE:ETR) Stock Price

Entergy (NYSE:ETR) had its target price decreased by Scotiabank from $165.00 to $82.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “sector perform” rating on the utilities provider’s stock. Scotiabank’s target price indicates a potential upside of 7.81% from the company’s previous close.

ETR has been the subject of several other research reports. UBS Group upped their price target on Entergy from $72.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. KeyCorp downgraded shares of Entergy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Morgan Stanley upgraded shares of Entergy from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $58.00 to $75.00 in a research note on Monday, November 4th. StockNews.com raised shares of Entergy from a “sell” rating to a “hold” rating in a research note on Sunday, December 29th. Finally, Guggenheim raised their price target on shares of Entergy from $72.50 to $82.50 and gave the stock a “buy” rating in a research note on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $77.37.

Entergy Stock Performance

Shares of ETR stock traded up $0.80 during trading hours on Tuesday, reaching $76.06. 1,208,373 shares of the company’s stock were exchanged, compared to its average volume of 2,457,527. Entergy has a fifty-two week low of $48.08 and a fifty-two week high of $79.04. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 1.77. The stock has a market capitalization of $32.62 billion, a P/E ratio of 18.53, a P/E/G ratio of 2.48 and a beta of 0.71. The business has a fifty day moving average price of $74.89 and a 200-day moving average price of $65.38.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.04. Entergy had a net margin of 14.83% and a return on equity of 9.53%. The firm had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.46 billion. During the same period in the prior year, the firm earned $1.64 EPS. Analysts predict that Entergy will post 3.61 EPS for the current fiscal year.

Insider Transactions at Entergy

In other news, insider Deanna D. Rodriguez sold 6,088 shares of Entergy stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $73.94, for a total transaction of $450,146.72. Following the completion of the sale, the insider now owns 3,952 shares in the company, valued at $292,210.88. The trade was a 60.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Haley Fisackerly sold 8,268 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $74.52, for a total transaction of $616,090.02. Following the completion of the transaction, the insider now directly owns 4,032 shares in the company, valued at approximately $300,444.48. The trade was a 67.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,756 shares of company stock worth $1,095,637 over the last 90 days. 0.39% of the stock is owned by insiders.

Hedge Funds Weigh In On Entergy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC acquired a new stake in shares of Entergy in the 3rd quarter valued at approximately $27,000. Fortitude Family Office LLC increased its stake in Entergy by 423.8% in the third quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 178 shares in the last quarter. Cetera Trust Company N.A acquired a new stake in Entergy in the third quarter worth $29,000. Coastline Trust Co bought a new position in shares of Entergy during the third quarter worth $31,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Entergy in the 3rd quarter valued at $42,000. Institutional investors 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.