Entergy Corporation (NYSE:ETR) had its price target raised by Morgan Stanley from $82.00 to $84.00 in a report released on Friday. Morgan Stanley currently has an underweight rating on the utilities provider’s stock.
A number of other equities analysts have also commented on ETR. Wells Fargo & Company increased their price target on Entergy Corporation from $83.50 to $88.00 and gave the company an outperform rating in a research note on Wednesday, May 31st. ValuEngine lowered Entergy Corporation from a buy rating to a hold rating in a research note on Friday, June 2nd. Zacks Investment Research lowered Entergy Corporation from a hold rating to a sell rating in a research note on Friday, June 16th. Jefferies Group LLC reissued a hold rating and set a $78.00 price target on shares of Entergy Corporation in a research note on Thursday, July 6th. Finally, BidaskClub lowered Entergy Corporation from a hold rating to a sell rating in a research note on Saturday, July 8th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $78.33.
Entergy Corporation (ETR) opened at 79.81 on Friday. The stock’s market capitalization is $14.33 billion. Entergy Corporation has a one year low of $66.71 and a one year high of $81.83. The company’s 50 day moving average price is $77.80 and its 200-day moving average price is $76.90.
Entergy Corporation (NYSE:ETR) last announced its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $3.11 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $1.91. Entergy Corporation had a positive return on equity of 14.08% and a negative net margin of 7.98%. The company had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same period in the prior year, the company earned $3.16 earnings per share. Analysts expect that Entergy Corporation will post $6.51 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Thursday, August 10th were given a dividend of $0.87 per share. The ex-dividend date was Tuesday, August 8th. This represents a $3.48 dividend on an annualized basis and a yield of 4.36%. Entergy Corporation’s dividend payout ratio (DPR) is presently -69.74%.
In other news, insider Charles L. Rice, Jr. sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $78.95, for a total value of $78,950.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Haley Fisackerly sold 500 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $77.17, for a total value of $38,585.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,495 shares of company stock worth $271,313. Company insiders own 0.24% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of ETR. BlackRock Inc. raised its holdings in shares of Entergy Corporation by 3,574.9% in the first quarter. BlackRock Inc. now owns 16,089,684 shares of the utilities provider’s stock worth $1,222,173,000 after buying an additional 15,651,863 shares during the period. Franklin Resources Inc. raised its holdings in shares of Entergy Corporation by 43.9% in the second quarter. Franklin Resources Inc. now owns 1,888,643 shares of the utilities provider’s stock worth $144,991,000 after buying an additional 576,426 shares during the period. AJO LP raised its holdings in shares of Entergy Corporation by 16.0% in the second quarter. AJO LP now owns 3,518,543 shares of the utilities provider’s stock worth $270,119,000 after buying an additional 485,602 shares during the period. Vanguard Group Inc. raised its holdings in shares of Entergy Corporation by 2.4% in the first quarter. Vanguard Group Inc. now owns 19,927,324 shares of the utilities provider’s stock worth $1,513,680,000 after buying an additional 470,255 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in shares of Entergy Corporation by 99.4% in the second quarter. Principal Financial Group Inc. now owns 902,639 shares of the utilities provider’s stock worth $69,296,000 after buying an additional 449,986 shares during the period. Hedge funds and other institutional investors own 84.07% of the company’s stock.
Entergy Corporation Company Profile
Entergy Corporation is a holding company. The Company is an integrated energy company engaged in electric power production and retail electric distribution operations. The Company operates through two business segments: Utility and Entergy Wholesale Commodities. The Utility segment includes the generation, transmission, distribution and sale of electric power to retail and wholesale customers in areas of Arkansas, Mississippi, Texas and Louisiana, including the City of New Orleans and operates a natural gas distribution business.
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