BMO Capital Markets Reaffirms Hold Rating for Entergy Corporation (NYSE:ETR)
BMO Capital Markets reissued their hold rating on shares of Entergy Corporation (NYSE:ETR) in a research note released on Friday morning. They currently have a $78.00 target price on the utilities provider’s stock.
Several other research analysts have also recently weighed in on the company. BidaskClub upgraded Entergy Corporation from a sell rating to a hold rating in a research report on Wednesday, August 2nd. Jefferies Group LLC restated a hold rating and issued a $78.00 price target on shares of Entergy Corporation in a research report on Thursday, July 6th. Zacks Investment Research upgraded Entergy Corporation from a sell rating to a hold rating in a research report on Tuesday, June 27th. ValuEngine cut Entergy Corporation from a buy rating to a hold rating in a research report on Friday, June 2nd. Finally, Wells Fargo & Company raised their price target on Entergy Corporation from $83.50 to $88.00 and gave the stock an outperform rating in a research report on Wednesday, May 31st. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company’s stock. Entergy Corporation has a consensus rating of Hold and an average price target of $78.46.
Shares of Entergy Corporation (NYSE:ETR) traded down 0.36% during midday trading on Friday, reaching $76.60. 449,662 shares of the company’s stock traded hands. The stock’s market cap is $13.75 billion. The stock has a 50 day moving average of $77.14 and a 200-day moving average of $75.66. Entergy Corporation has a 52-week low of $66.71 and a 52-week high of $81.83.
Entergy Corporation (NYSE:ETR) last posted its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $3.11 earnings per share for the quarter, topping the consensus estimate of $1.20 by $1.91. The firm had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.44 billion. Entergy Corporation had a positive return on equity of 14.08% and a negative net margin of 7.98%. During the same quarter last year, the business earned $3.16 EPS. On average, equities research analysts expect that Entergy Corporation will post $5.31 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Thursday, August 10th will be paid a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date is Tuesday, August 8th. Entergy Corporation’s dividend payout ratio is currently -69.74%.
In related news, insider Haley Fisackerly sold 600 shares of Entergy Corporation stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $75.92, for a total value of $45,552.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.24% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in Entergy Corporation by 3,574.9% in the first quarter. BlackRock Inc. now owns 16,089,684 shares of the utilities provider’s stock worth $1,222,173,000 after buying an additional 15,651,863 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Entergy Corporation by 2.4% in the first quarter. Vanguard Group Inc. now owns 19,927,324 shares of the utilities provider’s stock worth $1,513,680,000 after buying an additional 470,255 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Entergy Corporation by 53.6% in the first quarter. First Trust Advisors LP now owns 1,316,293 shares of the utilities provider’s stock worth $99,986,000 after buying an additional 459,327 shares during the last quarter. OppenheimerFunds Inc. increased its stake in shares of Entergy Corporation by 215.6% in the first quarter. OppenheimerFunds Inc. now owns 484,312 shares of the utilities provider’s stock worth $36,789,000 after buying an additional 330,858 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Entergy Corporation by 7.3% in the first quarter. Ameriprise Financial Inc. now owns 4,461,044 shares of the utilities provider’s stock worth $338,859,000 after buying an additional 305,111 shares during the last quarter. 83.29% of the stock is currently owned by institutional investors.
Entergy Corporation Company Profile
Entergy Corporation is a holding company. The Company is an integrated energy company engaged in electric power production and retail electric distribution operations. The Company operates through two business segments: Utility and Entergy Wholesale Commodities. The Utility segment includes the generation, transmission, distribution and sale of electric power to retail and wholesale customers in areas of Arkansas, Mississippi, Texas and Louisiana, including the City of New Orleans and operates a natural gas distribution business.
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