Evercore ISI Forecasts Strong Price Appreciation for Entergy (NYSE:ETR) Stock

Entergy (NYSE:ETR) had its price target boosted by equities researchers at Evercore ISI from $75.00 to $86.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “in-line” rating on the utilities provider’s stock. Evercore ISI’s price target indicates a potential upside of 0.22% from the company’s previous close.

Several other equities research analysts have also commented on ETR. LADENBURG THALM/SH SH upgraded shares of Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price target on the stock in a research note on Thursday, January 30th. UBS Group lifted their price target on shares of Entergy from $72.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Guggenheim lifted their price target on shares of Entergy from $72.50 to $82.50 and gave the stock a “buy” rating in a research note on Friday, November 1st. Wells Fargo & Company lifted their price target on shares of Entergy from $85.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, StockNews.com raised shares of Entergy from a “sell” rating to a “hold” rating in a research report on Sunday, December 29th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $82.14.

Entergy Price Performance

Shares of ETR opened at $85.82 on Wednesday. Entergy has a twelve month low of $49.80 and a twelve month high of $88.38. The firm’s fifty day simple moving average is $79.01 and its 200-day simple moving average is $71.19. The firm has a market capitalization of $36.80 billion, a price-to-earnings ratio of 35.24, a PEG ratio of 2.67 and a beta of 0.72. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 1.77.

Entergy (NYSE:ETR) last announced its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.63 by $0.03. Entergy had a net margin of 8.90% and a return on equity of 10.75%. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same period last year, the business earned $0.26 EPS. Equities analysts forecast that Entergy will post 3.88 EPS for the current fiscal year.

Insider Activity

In other news, insider Deanna D. Rodriguez sold 6,088 shares of Entergy stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $73.94, for a total value of $450,146.72. Following the sale, the insider now owns 3,952 shares of the company’s stock, valued at $292,210.88. The trade was a 60.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.39% of the company’s stock.

Institutional Trading of Entergy

Institutional investors have recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC purchased a new stake in Entergy during the third quarter worth about $27,000. Fortitude Family Office LLC boosted its holdings in Entergy by 423.8% during the third quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock worth $29,000 after buying an additional 178 shares in the last quarter. Coastline Trust Co purchased a new stake in Entergy during the third quarter worth about $31,000. Ashton Thomas Securities LLC purchased a new stake in Entergy during the third quarter worth about $42,000. Finally, NBT Bank N A NY boosted its holdings in Entergy by 100.0% during the fourth quarter. NBT Bank N A NY now owns 340 shares of the utilities provider’s stock worth $26,000 after buying an additional 170 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

About Entergy

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.