Entergy (NYSE:ETR) Price Target Raised to $136.00 at KeyCorp

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Entergy (NYSE:ETR) had its target price increased by KeyCorp from $129.00 to $136.00 in a research note issued to investors on Thursday morning, The Fly reports. They currently have an overweight rating on the utilities provider’s stock. KeyCorp also issued estimates for Entergy’s Q1 2020 earnings at $1.28 EPS, Q2 2020 earnings at $1.48 EPS, Q3 2020 earnings at $2.14 EPS, FY2023 earnings at $6.69 EPS and FY2024 earnings at $7.03 EPS.

A number of other analysts have also weighed in on ETR. UBS Group lowered shares of Entergy from a buy rating to a neutral rating and upped their price objective for the stock from $115.00 to $126.00 in a research note on Thursday, October 31st. Bank of America upped their price objective on shares of Entergy from $125.00 to $128.00 and gave the stock a buy rating in a research note on Tuesday, December 3rd. BMO Capital Markets began coverage on shares of Entergy in a research note on Wednesday, February 19th. They issued a market perform rating and a $132.00 price objective for the company. Citigroup upped their price objective on shares of Entergy from $134.00 to $150.00 and gave the stock a buy rating in a research note on Thursday, February 6th. Finally, Morgan Stanley upped their price objective on shares of Entergy from $119.00 to $124.00 and gave the stock an equal weight rating in a research note on Wednesday, January 29th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of Buy and an average target price of $128.00.

Shares of ETR opened at $129.96 on Thursday. The firm has a market capitalization of $25.88 billion, a P/E ratio of 20.69, a P/E/G ratio of 3.33 and a beta of 0.25. Entergy has a 12-month low of $91.06 and a 12-month high of $135.55. The company has a current ratio of 0.54, a quick ratio of 0.37 and a debt-to-equity ratio of 1.67. The firm has a fifty day moving average price of $127.80 and a 200-day moving average price of $118.67.

Entergy (NYSE:ETR) last issued its earnings results on Wednesday, February 19th. The utilities provider reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.02. The firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.98 billion. Entergy had a net margin of 11.57% and a return on equity of 11.02%. During the same period in the previous year, the firm earned $0.60 earnings per share. Analysts predict that Entergy will post 5.58 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Thursday, February 13th will be issued a $0.93 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $3.72 dividend on an annualized basis and a yield of 2.86%. Entergy’s dividend payout ratio is presently 68.89%.

A number of institutional investors have recently made changes to their positions in ETR. Bank of America Corp DE raised its holdings in Entergy by 428.0% in the fourth quarter. Bank of America Corp DE now owns 5,224,407 shares of the utilities provider’s stock worth $625,883,000 after purchasing an additional 4,234,928 shares in the last quarter. Millennium Management LLC raised its holdings in Entergy by 174.1% in the third quarter. Millennium Management LLC now owns 1,965,094 shares of the utilities provider’s stock worth $230,623,000 after purchasing an additional 1,248,178 shares in the last quarter. Pictet Asset Management Ltd. raised its holdings in Entergy by 26.1% in the fourth quarter. Pictet Asset Management Ltd. now owns 3,098,291 shares of the utilities provider’s stock worth $371,175,000 after purchasing an additional 641,054 shares in the last quarter. Wedge Capital Management L L P NC raised its holdings in Entergy by 497.2% in the third quarter. Wedge Capital Management L L P NC now owns 769,597 shares of the utilities provider’s stock worth $90,320,000 after purchasing an additional 640,734 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in Entergy by 4.0% in the second quarter. BlackRock Inc. now owns 15,716,038 shares of the utilities provider’s stock worth $1,617,651,000 after purchasing an additional 597,926 shares in the last quarter. Institutional investors and hedge funds own 86.43% of the company’s stock.

About Entergy

Entergy Corporation, together with its subsidiaries, engages in the production and distribution of electricity in the United States. It generates electricity through gas/oil, nuclear, coal, hydro, and solar power sources. The company's Utility segment generates, transmits, distributes, and sells electric power in portions of Arkansas, Mississippi, Texas, and Louisiana, including the City of New Orleans; and distributes natural gas.

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The Fly

Analyst Recommendations for Entergy (NYSE:ETR)

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