Entergy (NYSE:ETR) Cut to “Sell” at StockNews.com

StockNews.com cut shares of Entergy (NYSE:ETR) from a hold rating to a sell rating in a report released on Monday morning.

Several other equities research analysts have also recently weighed in on the stock. UBS Group upped their price objective on shares of Entergy from $144.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Barclays increased their price target on shares of Entergy from $137.00 to $152.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Mizuho boosted their price objective on shares of Entergy from $138.00 to $165.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Morgan Stanley raised Entergy from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $116.00 to $150.00 in a report on Monday, November 4th. Finally, BMO Capital Markets lowered their price target on Entergy from $166.00 to $159.00 and set an “outperform” rating for the company in a report on Monday, November 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Entergy presently has an average rating of “Moderate Buy” and an average price target of $153.19.

Entergy Trading Down 0.3 %

ETR stock opened at $147.88 on Monday. Entergy has a 52 week low of $96.15 and a 52 week high of $158.07. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.59 and a current ratio of 0.89. The company’s 50-day simple moving average is $143.32 and its 200 day simple moving average is $125.12. The company has a market capitalization of $31.71 billion, a PE ratio of 18.04, a price-to-earnings-growth ratio of 2.53 and a beta of 0.71.

Shares of Entergy are set to split before the market opens on Friday, December 13th. The 2-1 split was announced on Thursday, October 31st. The newly minted shares will be distributed to shareholders after the closing bell on Thursday, December 12th.

Entergy (NYSE:ETR) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $2.99 earnings per share for the quarter, beating analysts’ consensus estimates of $2.91 by $0.08. The company had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.46 billion. Entergy had a net margin of 14.83% and a return on equity of 9.53%. During the same period in the previous year, the business earned $3.27 earnings per share. As a group, sell-side analysts anticipate that Entergy will post 7.22 earnings per share for the current year.

Entergy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Wednesday, November 13th were issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend was Wednesday, November 13th. This is a positive change from Entergy’s previous quarterly dividend of $1.13. Entergy’s dividend payout ratio (DPR) is 58.47%.

Insiders Place Their Bets

In other Entergy news, insider Haley Fisackerly sold 4,134 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $149.03, for a total value of $616,090.02. Following the sale, the insider now owns 2,016 shares in the company, valued at approximately $300,444.48. The trade was a 67.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Eliecer Viamontes sold 200 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $147.00, for a total value of $29,400.00. Following the transaction, the insider now owns 4,173 shares of the company’s stock, valued at $613,431. This trade represents a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,256 shares of company stock valued at $1,675,350 in the last ninety days. 0.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Entergy

A number of institutional investors have recently modified their holdings of the company. Legacy Investment Solutions LLC acquired a new position in Entergy in the third quarter valued at $27,000. Fortitude Family Office LLC lifted its stake in shares of Entergy by 423.8% in the 3rd quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 178 shares during the period. Cetera Trust Company N.A bought a new stake in shares of Entergy during the 3rd quarter valued at about $29,000. Iron Horse Wealth Management LLC acquired a new stake in Entergy during the second quarter worth approximately $25,000. Finally, Coastline Trust Co bought a new stake in Entergy in the third quarter worth approximately $31,000. 88.07% of the stock is owned by institutional investors.

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.