Entergy (ETR) Given New $81.00 Price Target at Morgan Stanley
Entergy (NYSE:ETR) had its price target boosted by Morgan Stanley from $76.00 to $81.00 in a research report sent to investors on Monday morning. They currently have an equal weight rating on the utilities provider’s stock.
Several other research firms also recently issued reports on ETR. Guggenheim reaffirmed a buy rating and set a $101.00 price objective on shares of Entergy in a report on Wednesday, January 3rd. JPMorgan Chase upped their price objective on shares of Entergy from $78.00 to $81.00 and gave the stock a neutral rating in a report on Tuesday, April 10th. Wells Fargo reaffirmed an outperform rating and set a $90.00 price objective (down from $96.00) on shares of Entergy in a report on Monday, February 26th. They noted that the move was a valuation call. ValuEngine downgraded shares of Entergy from a buy rating to a hold rating in a report on Thursday, April 12th. Finally, UBS began coverage on shares of Entergy in a report on Friday, February 2nd. They set a neutral rating and a $82.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Entergy presently has a consensus rating of Buy and an average price target of $83.75.
NYSE ETR opened at $79.63 on Monday. The company has a quick ratio of 0.47, a current ratio of 0.65 and a debt-to-equity ratio of 1.79. The firm has a market cap of $14,217.59, a P/E ratio of 10.91, a PEG ratio of 2.02 and a beta of 0.47. Entergy has a 1 year low of $71.95 and a 1 year high of $87.95.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Thursday, May 10th will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend is Wednesday, May 9th. Entergy’s payout ratio is currently 49.44%.
In related news, insider Haley Fisackerly sold 500 shares of the company’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $78.02, for a total transaction of $39,010.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Alyson M. Mount sold 10,396 shares of the company’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $78.50, for a total transaction of $816,086.00. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in ETR. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in shares of Entergy in the 4th quarter valued at $4,395,000. Acadian Asset Management LLC raised its stake in shares of Entergy by 190.5% in the 4th quarter. Acadian Asset Management LLC now owns 30,030 shares of the utilities provider’s stock valued at $2,444,000 after buying an additional 19,693 shares in the last quarter. Global Financial Private Capital LLC raised its stake in shares of Entergy by 23.9% in the 4th quarter. Global Financial Private Capital LLC now owns 9,996 shares of the utilities provider’s stock valued at $814,000 after buying an additional 1,928 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Entergy by 13.2% in the 3rd quarter. Janus Henderson Group PLC now owns 105,648 shares of the utilities provider’s stock valued at $8,067,000 after buying an additional 12,285 shares in the last quarter. Finally, Suntrust Banks Inc. raised its stake in shares of Entergy by 5.2% in the 4th quarter. Suntrust Banks Inc. now owns 51,624 shares of the utilities provider’s stock valued at $4,199,000 after buying an additional 2,549 shares in the last quarter. Hedge funds and other institutional investors own 85.44% of the company’s stock.
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Entergy Company Profile
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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