Entergy (NYSE:ETR) Raised to Hold at StockNews.com

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

Several other equities research analysts also recently issued reports on the company. Wells Fargo & Company increased their price objective on Entergy from $68.50 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Morgan Stanley upgraded shares of Entergy from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $58.00 to $75.00 in a report on Monday, November 4th. UBS Group upped their price objective on shares of Entergy from $72.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Scotiabank increased their target price on shares of Entergy from $72.00 to $82.50 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Finally, BMO Capital Markets lowered their price target on shares of Entergy from $83.00 to $79.50 and set an “outperform” rating on the stock in a report on Monday, November 18th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Entergy presently has an average rating of “Moderate Buy” and a consensus target price of $77.40.

Entergy Stock Performance

Shares of ETR opened at $75.82 on Friday. Entergy has a one year low of $48.08 and a one year high of $79.04. The company has a 50-day moving average of $74.29 and a two-hundred day moving average of $64.74. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.89 and a quick ratio of 0.59. The stock has a market cap of $32.51 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 2.48 and a beta of 0.71.

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

Entergy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Wednesday, November 13th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend was Wednesday, November 13th. Entergy’s dividend payout ratio is 58.39%.

Insider Activity at Entergy

In related news, insider Haley Fisackerly sold 8,268 shares of Entergy stock in a transaction 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 owns 4,032 shares in the company, valued at $300,444.48. This trade represents a 67.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Deanna D. Rodriguez sold 6,088 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $73.94, for a total transaction of $450,146.72. Following the transaction, the insider now directly owns 3,952 shares of the company’s stock, valued at approximately $292,210.88. This represents a 60.64 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,756 shares of company stock valued at $1,095,637. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of Entergy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC bought a new stake in shares of Entergy in the third quarter valued at approximately $27,000. Cetera Trust Company N.A bought a new stake in Entergy in the 3rd quarter valued at $29,000. Fortitude Family Office LLC grew its position in Entergy by 423.8% in the 3rd quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 178 shares during the last quarter. Coastline Trust Co bought a new position in shares of Entergy during the 3rd quarter worth about $31,000. Finally, Rothschild Investment LLC acquired a new position in shares of Entergy during the second quarter valued at about $34,000. Institutional investors and hedge funds 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.