Entergy (NYSE:ETR) Raised to “Hold” at Wall Street Zen

Entergy (NYSE:ETR) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday, Wall Street Zen reports.

ETR has been the topic of a number of other reports. Jefferies Financial Group cut their price target on shares of Entergy from $133.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday, October 20th. BMO Capital Markets lowered their price objective on shares of Entergy from $124.00 to $123.00 and set an “outperform” rating for the company in a research note on Thursday, July 30th. Truist Financial set a $119.00 price objective on shares of Entergy and gave the company a “buy” rating in a report on Monday, October 12th. Mizuho cut their target price on shares of Entergy from $122.00 to $121.00 and set an “outperform” rating on the stock in a research note on Thursday, July 30th. Finally, Bank of America upped their target price on shares of Entergy from $112.00 to $115.00 in a research note on Monday, July 27th. Twenty equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Entergy has a consensus rating of “Moderate Buy” and an average price target of $121.57.

Entergy Trading Down 0.1%

ETR opened at $110.42 on Friday. Entergy has a 52 week low of $90.87 and a 52 week high of $118.44. The business has a fifty day simple moving average of $104.77 and a 200-day simple moving average of $107.68. The firm has a market cap of $52.76 billion, a P/E ratio of 25.38, a P/E/G ratio of 2.47 and a beta of 0.44. The company has a quick ratio of 0.93, a current ratio of 1.18 and a debt-to-equity ratio of 1.70.

Entergy (NYSE:ETR) last issued its quarterly earnings data on Monday, November 2nd. The utilities provider reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.25. The business had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Entergy had a return on equity of 11.44% and a net margin of 14.63%. During the same period in the previous year, the firm posted $1.53 earnings per share. On average, equities analysts expect that Entergy will post 4.41 earnings per share for the current year.

Insider Activity

In other news, insider Laura Landreaux sold 5,600 shares of the business’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $106.20, for a total transaction of $594,720.00. Following the completion of the transaction, the insider directly owned 22,589 shares of the company’s stock, valued at approximately $2,398,951.80. The trade was a 19.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.21% of the company’s stock.

Institutional Trading of Entergy

Hedge funds have recently added to or reduced their stakes in the company. Cornerstone Advisory LLC increased its holdings in shares of Entergy by 7.9% in the 3rd quarter. Cornerstone Advisory LLC now owns 2,070 shares of the utilities provider’s stock valued at $205,000 after purchasing an additional 152 shares in the last quarter. Vista Capital Partners Inc. purchased a new stake in Entergy during the third quarter worth about $219,000. Money Concepts Capital Corp boosted its holdings in Entergy by 3.0% during the third quarter. Money Concepts Capital Corp now owns 10,356 shares of the utilities provider’s stock worth $1,028,000 after buying an additional 298 shares in the last quarter. Allworth Financial LP boosted its holdings in Entergy by 14.9% during the third quarter. Allworth Financial LP now owns 16,298 shares of the utilities provider’s stock worth $1,618,000 after buying an additional 2,117 shares in the last quarter. Finally, Legacy Trust acquired a new position in Entergy during the third quarter worth about $262,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

Entergy Company Profile

Entergy Corporation is an investor-owned energy company headquartered in New Orleans. Its primary business is providing regulated electric utility service to residential, commercial and industrial customers.

Through its utility subsidiaries, Entergy serves communities in Arkansas, Louisiana, Mississippi and Texas. Its operations include generating, transmitting and distributing electricity, with power produced from a mix of sources that includes nuclear energy.

The company traces its corporate history to Middle South Utilities, which adopted the Entergy name in 1989.