Brokerages Set Entergy Corporation (NYSE:ETR) Target Price at $77.40

Entergy Corporation (NYSE:ETR) has received a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $77.40.

A number of research analysts recently weighed in on the company. Wells Fargo & Company boosted their target price on Entergy from $68.50 to $85.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Barclays upped their target price on Entergy from $68.50 to $76.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Argus raised shares of Entergy to a “strong-buy” rating in a research note on Wednesday, August 28th. Guggenheim increased their target price on shares of Entergy from $72.50 to $82.50 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, KeyCorp lowered Entergy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th.

Entergy Stock Up 0.9 %

NYSE:ETR opened at $75.13 on Friday. The stock’s fifty day simple moving average is $73.06 and its 200-day simple moving average is $63.60. The firm has a market capitalization of $32.22 billion, a P/E ratio of 18.30, a P/E/G ratio of 2.48 and a beta of 0.71. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 1.77. Entergy has a 12-month low of $48.08 and a 12-month high of $79.04.

Entergy (NYSE:ETR) last issued its quarterly earnings data on Thursday, October 31st. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.04. Entergy had a return on equity of 9.53% and a net margin of 14.83%. The business had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same period in the previous year, the firm earned $1.64 EPS. Equities research analysts expect that Entergy will post 3.61 earnings per share for the current year.

Entergy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Wednesday, November 13th were given a dividend of $0.60 per share. The ex-dividend date was Wednesday, November 13th. This represents a $2.40 annualized dividend and a yield of 3.19%. Entergy’s dividend payout ratio (DPR) is presently 58.39%.

Insider Buying and Selling at Entergy

In other Entergy news, COO Peter S. Norgeot, Jr. sold 15,844 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $65.00, for a total transaction of $1,029,860.00. Following the sale, the chief operating officer now directly owns 69,986 shares of the company’s stock, valued at $4,549,090. The trade was a 18.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Haley Fisackerly sold 8,268 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $74.52, for a total value of $616,090.02. Following the transaction, the insider now directly owns 4,032 shares in the company, valued at approximately $300,444.48. This represents a 67.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,600 shares of company stock valued at $2,125,497 over the last 90 days. 0.39% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Entergy

Several institutional investors have recently bought and sold shares of the company. Iron Horse Wealth Management LLC acquired a new position in shares of Entergy in the second quarter valued at about $25,000. Legacy Investment Solutions LLC acquired a new position in Entergy during the third quarter worth $27,000. Cetera Trust Company N.A acquired a new position in shares of Entergy during the third quarter valued at approximately $29,000. Fortitude Family Office LLC boosted its position 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 acquiring an additional 178 shares during the last quarter. Finally, American National Bank increased its stake in shares of Entergy by 93.7% in the 2nd quarter. American National Bank now owns 277 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 134 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

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.