Entergy (ETR) Lifted to “Strong-Buy” at Zacks Investment Research
Entergy (NYSE:ETR) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday. The firm currently has a $90.00 target price on the utilities provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 13.15% from the company’s previous close.
According to Zacks, “Entergy's share price outperformed the broader industry’s gain in last three months, buoyed by its solid capital investment plans. Currently, Entergy plans to invest $11.22 billion in the 2018–2020 time frame for the modernization of grid with evolving customer demand. Meanwhile, the company maintains a stable liquidity position that enables it to make notable investment plans. Entergy continues to focus on maximizing shareholder value through the regular payment of dividends. It intends to raise its dividend constantly and steadily, in sync with its investment strategy. Further, to pursue growth opportunities in the generation business, the company has a strong project pipeline. However, any adverse decision in pending regulatory cases can materially impact earnings.”
A number of other research analysts also recently issued reports on the company. Wells Fargo reiterated an “outperform” rating and issued a $90.00 price target (down from $96.00) on shares of Entergy in a report on Monday, February 26th. They noted that the move was a valuation call. Guggenheim reiterated a “buy” rating and issued a $94.00 price target (up from $88.00) on shares of Entergy in a report on Friday, February 23rd. Morgan Stanley set a $76.00 price target on Entergy and gave the company a “hold” rating in a report on Thursday, March 8th. UBS initiated coverage on Entergy in a report on Friday, February 2nd. They issued a “neutral” rating and a $82.00 price target on the stock. Finally, ValuEngine downgraded Entergy from a “buy” rating to a “hold” rating in a report on Thursday, April 12th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $84.23.
Entergy (NYSE:ETR) last announced its quarterly earnings results on Friday, February 23rd. The utilities provider reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.34. Entergy had a return on equity of 15.79% and a net margin of 3.81%. The business had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same period last year, the business posted $0.31 EPS. equities research analysts forecast that Entergy will post 5.57 EPS for the current year.
In other news, insider Haley Fisackerly sold 500 shares of the firm’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $78.02, for a total value of $39,010.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Alyson M. Mount sold 10,396 shares of the firm’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $78.50, for a total value of $816,086.00. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. lifted its position in Entergy by 2.2% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 56,160 shares of the utilities provider’s stock worth $4,571,000 after acquiring an additional 1,194 shares during the period. Colonial Trust Advisors acquired a new stake in Entergy during the 4th quarter worth about $256,000. Xact Kapitalforvaltning AB lifted its position in Entergy by 20.2% during the 4th quarter. Xact Kapitalforvaltning AB now owns 17,367 shares of the utilities provider’s stock worth $1,414,000 after acquiring an additional 2,915 shares during the period. Envestnet Asset Management Inc. lifted its position in Entergy by 414.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 42,088 shares of the utilities provider’s stock worth $3,426,000 after acquiring an additional 33,913 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Entergy by 124.0% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 153,251 shares of the utilities provider’s stock worth $12,473,000 after acquiring an additional 84,826 shares during the period. 85.44% of the stock is owned by institutional investors.
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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