Entergy (NYSE:ETR) Price Target Cut to $89.00 by Analysts at BMO Capital Markets

Entergy (NYSE:ETR) had its target price lowered by BMO Capital Markets from $94.00 to $89.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the utilities provider’s stock.

ETR has been the subject of a number of other reports. Evercore ISI upped their price objective on shares of Entergy from $75.00 to $86.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. Morgan Stanley raised their price objective on Entergy from $75.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. LADENBURG THALM/SH SH raised Entergy from a “neutral” rating to a “buy” rating and set a $86.50 target price on the stock in a research report on Thursday, January 30th. StockNews.com upgraded Entergy from a “sell” rating to a “hold” rating in a research note on Sunday, December 29th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Entergy from $87.00 to $98.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $85.25.

Entergy Price Performance

ETR opened at $81.71 on Friday. The company has a 50 day moving average of $83.48 and a two-hundred day moving average of $77.26. Entergy has a 52-week low of $50.19 and a 52-week high of $88.38. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 1.81. The company has a market cap of $35.20 billion, a P/E ratio of 33.55, a P/E/G ratio of 2.34 and a beta of 0.56.

Entergy (NYSE:ETR) last posted its earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $3.24 billion. Entergy had a return on equity of 10.68% and a net margin of 8.90%. During the same quarter last year, the firm earned $0.26 earnings per share. On average, analysts expect that Entergy will post 3.88 earnings per share for the current year.

Entergy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Friday, May 2nd will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Friday, May 2nd. Entergy’s dividend payout ratio (DPR) is presently 98.77%.

Institutional Investors Weigh In On Entergy

Several institutional investors and hedge funds have recently bought and sold shares of the business. Strategic Financial Concepts LLC acquired a new stake in shares of Entergy during the 4th quarter worth approximately $4,393,000. Flagship Harbor Advisors LLC grew its stake in Entergy by 74.3% during the 4th quarter. Flagship Harbor Advisors LLC now owns 7,959 shares of the utilities provider’s stock worth $603,000 after buying an additional 3,393 shares during the last quarter. LaFleur & Godfrey LLC acquired a new stake in Entergy in the fourth quarter worth $217,000. Avior Wealth Management LLC lifted its stake in Entergy by 324.3% in the fourth quarter. Avior Wealth Management LLC now owns 734 shares of the utilities provider’s stock valued at $56,000 after buying an additional 561 shares during the last quarter. Finally, Braun Stacey Associates Inc. boosted its holdings in shares of Entergy by 88.8% during the fourth quarter. Braun Stacey Associates Inc. now owns 360,502 shares of the utilities provider’s stock valued at $27,333,000 after acquiring an additional 169,511 shares during the period. Institutional investors and hedge funds own 88.07% of the company’s stock.

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.