Entergy (NYSE:ETR) Price Target Raised to $97.00 at Wells Fargo & Company

Entergy (NYSE:ETR) had its price target hoisted by Wells Fargo & Company from $85.00 to $97.00 in a report published on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the utilities provider’s stock.

A number of other research firms have also recently weighed in on ETR. Barclays upped their price target on Entergy from $68.50 to $76.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Scotiabank cut their price objective on Entergy from $165.00 to $82.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 7th. Mizuho boosted their price objective on Entergy from $69.00 to $82.50 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Guggenheim boosted their price objective on Entergy from $72.50 to $82.50 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Morgan Stanley upgraded Entergy from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $58.00 to $75.00 in a research note on Monday, November 4th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.14.

Entergy Stock Performance

NYSE ETR opened at $84.94 on Wednesday. The stock has a market capitalization of $36.56 billion, a price-to-earnings ratio of 34.88, a PEG ratio of 2.66 and a beta of 0.72. Entergy has a twelve month low of $49.80 and a twelve month high of $88.38. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 1.81. The stock has a 50-day moving average of $79.24 and a 200 day moving average of $71.30.

Entergy (NYSE:ETR) last released its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $3.24 billion. Entergy had a return on equity of 10.68% and a net margin of 8.90%. During the same quarter in the prior year, the firm posted $0.26 EPS. Sell-side analysts anticipate that Entergy will post 3.88 EPS for the current fiscal year.

Entergy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be given a $0.60 dividend. The ex-dividend date is Monday, February 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.83%. Entergy’s dividend payout ratio (DPR) is presently 98.56%.

Insider Activity

In related news, insider Deanna D. Rodriguez sold 6,088 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $73.94, for a total value of $450,146.72. Following the transaction, the insider now directly owns 3,952 shares in the company, valued at approximately $292,210.88. This represents a 60.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.39% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ETR. Fortis Group Advisors LLC lifted its holdings in Entergy by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 172 shares during the last quarter. NBT Bank N A NY lifted its holdings in Entergy by 100.0% in the fourth quarter. NBT Bank N A NY now owns 340 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 170 shares during the last quarter. Legacy Investment Solutions LLC acquired a new position in Entergy in the third quarter valued at approximately $27,000. Duncker Streett & Co. Inc. lifted its holdings in Entergy by 100.0% in the fourth quarter. Duncker Streett & Co. Inc. now owns 358 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 179 shares during the last quarter. Finally, Sandy Spring Bank lifted its holdings in Entergy by 100.0% in the fourth quarter. Sandy Spring Bank now owns 358 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 179 shares during the last quarter. 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.