Entergy (NYSE:ETR) PT Lowered to $104.00

Entergy (NYSE:ETR) had its target price lowered by Scotiabank from $111.00 to $104.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has a sector perform rating on the utilities provider’s stock.

ETR has been the subject of several other reports. BMO Capital Markets raised their target price on shares of Entergy from $110.00 to $113.00 and gave the company an outperform rating in a research note on Monday, February 26th. Royal Bank of Canada reaffirmed an outperform rating and set a $117.00 target price on shares of Entergy in a research note on Monday, February 26th. Barclays cut their target price on shares of Entergy from $108.00 to $107.00 and set an equal weight rating for the company in a research note on Monday, April 15th. Finally, KeyCorp raised their target price on shares of Entergy from $108.00 to $112.00 and gave the company an overweight rating in a research note on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $109.45.

Entergy Stock Performance

Shares of NYSE ETR opened at $106.46 on Monday. The firm has a fifty day moving average price of $103.13 and a 200-day moving average price of $100.53. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.57 and a quick ratio of 0.32. The stock has a market cap of $22.70 billion, a PE ratio of 9.60, a price-to-earnings-growth ratio of 2.12 and a beta of 0.71. Entergy has a 1 year low of $87.10 and a 1 year high of $109.53.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.27). The firm had revenue of $31.17 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Entergy had a return on equity of 10.54% and a net margin of 19.41%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the company earned $1.14 earnings per share. Equities analysts anticipate that Entergy will post 7.22 earnings per share for the current fiscal year.

Entergy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Thursday, May 2nd will be given a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a yield of 4.25%. The ex-dividend date of this dividend is Wednesday, May 1st. Entergy’s dividend payout ratio is presently 40.76%.

Insiders Place Their Bets

In other Entergy news, EVP Marcus V. Brown sold 8,500 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $102.84, for a total transaction of $874,140.00. Following the sale, the executive vice president now owns 9,911 shares of the company’s stock, valued at approximately $1,019,247.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Entergy news, EVP Kimberly Cook-Nelson sold 2,000 shares of Entergy stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $100.35, for a total transaction of $200,700.00. Following the completion of the sale, the executive vice president now directly owns 16,037 shares in the company, valued at approximately $1,609,312.95. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Marcus V. Brown sold 8,500 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $102.84, for a total transaction of $874,140.00. Following the completion of the transaction, the executive vice president now owns 9,911 shares of the company’s stock, valued at $1,019,247.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,000 shares of company stock valued at $1,226,685. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Entergy

Large investors have recently made changes to their positions in the company. Tidemark LLC acquired a new position in shares of Entergy in the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC raised its position in Entergy by 157.1% during the third quarter. EverSource Wealth Advisors LLC now owns 270 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 165 shares during the period. Fortis Group Advisors LLC acquired a new position in Entergy during the third quarter worth $32,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Entergy during the third quarter worth $32,000. Finally, OLD Point Trust & Financial Services N A acquired a new position in Entergy during the fourth quarter worth $35,000. 88.07% 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 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.