Citigroup Boosts Entergy (ETR) Price Target to $89.00
Several other research analysts also recently weighed in on the company. Wells Fargo & Co upped their price target on Entergy from $91.00 to $95.00 and gave the stock an outperform rating in a research note on Monday, September 17th. Morgan Stanley upped their price target on Entergy from $83.00 to $87.00 and gave the stock a hold rating in a research note on Tuesday, September 11th. Howard Weil started coverage on Entergy in a research note on Tuesday, July 24th. They issued a sector perform rating and a $84.00 price target for the company. Bank of America upped their price target on Entergy from $89.00 to $90.00 and gave the stock a buy rating in a research note on Thursday, August 23rd. Finally, JPMorgan Chase & Co. upped their price target on Entergy from $82.00 to $85.00 and gave the stock a neutral rating in a research note on Wednesday, August 29th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Entergy has a consensus rating of Buy and a consensus price target of $88.79.
ETR stock opened at $84.12 on Wednesday. Entergy has a 1-year low of $71.95 and a 1-year high of $87.95. The company has a quick ratio of 0.42, a current ratio of 0.57 and a debt-to-equity ratio of 1.85. The company has a market capitalization of $14.94 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 1.79 and a beta of 0.49.
In other news, Director Alexis M. Herman sold 661 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $83.76, for a total transaction of $55,365.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Charles L. Rice, Jr. sold 5,766 shares of the company’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $82.70, for a total value of $476,848.20. The disclosure for this sale can be found here. Insiders have sold a total of 37,377 shares of company stock worth $3,141,926 over the last ninety days. Insiders own 0.24% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of ETR. FMR LLC raised its holdings in shares of Entergy by 256.4% during the 2nd quarter. FMR LLC now owns 2,585,554 shares of the utilities provider’s stock worth $208,886,000 after acquiring an additional 1,860,030 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Entergy by 107.5% during the 2nd quarter. Millennium Management LLC now owns 2,700,290 shares of the utilities provider’s stock worth $218,156,000 after acquiring an additional 1,398,892 shares in the last quarter. Luminus Management LLC purchased a new stake in shares of Entergy during the 2nd quarter worth approximately $110,530,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Entergy during the 2nd quarter worth approximately $93,409,000. Finally, Boston Partners raised its holdings in shares of Entergy by 38.4% during the 2nd quarter. Boston Partners now owns 2,824,231 shares of the utilities provider’s stock worth $228,170,000 after acquiring an additional 784,238 shares in the last quarter. 91.74% of the stock is currently owned by institutional investors and hedge funds.
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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