Entergy (NYSE:ETR) Price Target Lowered to $98.00 at Morgan Stanley

Entergy (NYSE:ETR) had its target price reduced by Morgan Stanley from $103.00 to $98.00 in a research report report published on Monday morning, Benzinga reports. They currently have an underweight rating on the utilities provider’s stock.

A number of other brokerages have also commented on ETR. Barclays lifted their price target on Entergy from $107.00 to $116.00 and gave the company an equal weight rating in a research note on Wednesday, June 5th. Mizuho lifted their price target on Entergy from $107.00 to $114.00 and gave the company a buy rating in a research note on Friday, May 31st. Scotiabank cut their price target on Entergy from $111.00 to $104.00 and set a sector perform rating on the stock in a research note on Monday, April 22nd. BMO Capital Markets lifted their price target on Entergy from $118.00 to $120.00 and gave the company an outperform rating in a research note on Thursday, June 6th. Finally, LADENBURG THALM/SH SH reaffirmed a neutral rating and issued a $109.50 price objective (down from $117.00) on shares of Entergy in a research note on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Entergy has an average rating of Moderate Buy and a consensus target price of $113.73.

Entergy Stock Performance

Entergy stock opened at $106.71 on Monday. Entergy has a 12-month low of $87.10 and a 12-month high of $114.28. The company has a quick ratio of 0.45, a current ratio of 0.69 and a debt-to-equity ratio of 1.68. The business’s 50-day moving average price is $108.83 and its two-hundred day moving average price is $104.24. The stock has a market cap of $22.79 billion, a PE ratio of 10.70, a P/E/G ratio of 2.02 and a beta of 0.73.

Entergy (NYSE:ETR) last released its earnings results on Wednesday, April 24th. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.36). Entergy had a net margin of 17.75% and a return on equity of 10.20%. The business had revenue of $31.17 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the prior year, the firm earned $1.14 EPS. The business’s revenue was down .5% on a year-over-year basis. As a group, analysts expect that Entergy will post 7.22 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Thursday, May 2nd were issued a $1.13 dividend. The ex-dividend date was Wednesday, May 1st. This represents a $4.52 dividend on an annualized basis and a yield of 4.24%. Entergy’s payout ratio is currently 45.34%.

Insiders Place Their Bets

In other Entergy news, CAO Reginald T. Jackson sold 9,229 shares of Entergy stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $108.71, for a total value of $1,003,284.59. Following the completion of the sale, the chief accounting officer now directly owns 2,166 shares in the company, valued at $235,465.86. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Reginald T. Jackson sold 9,229 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $108.71, for a total transaction of $1,003,284.59. Following the completion of the sale, the chief accounting officer now owns 2,166 shares in the company, valued at $235,465.86. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Haley Fisackerly sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $110.23, for a total value of $165,345.00. Following the sale, the insider now owns 2,479 shares of the company’s stock, valued at approximately $273,260.17. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Entergy

Several hedge funds and other institutional investors have recently modified their holdings of the company. Quent Capital LLC increased its holdings in shares of Entergy by 21.7% during the first quarter. Quent Capital LLC now owns 550 shares of the utilities provider’s stock valued at $58,000 after acquiring an additional 98 shares in the last quarter. Wealth Alliance grew its holdings in Entergy by 1.2% during the fourth quarter. Wealth Alliance now owns 8,201 shares of the utilities provider’s stock worth $830,000 after buying an additional 101 shares in the last quarter. Marino Stram & Associates LLC grew its holdings in Entergy by 1.7% during the first quarter. Marino Stram & Associates LLC now owns 5,879 shares of the utilities provider’s stock worth $621,000 after buying an additional 101 shares in the last quarter. Prossimo Advisors LLC grew its holdings in Entergy by 2.5% during the fourth quarter. Prossimo Advisors LLC now owns 4,512 shares of the utilities provider’s stock worth $457,000 after buying an additional 110 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. grew its holdings in Entergy by 40.0% during the first quarter. Newbridge Financial Services Group Inc. now owns 385 shares of the utilities provider’s stock worth $41,000 after buying an additional 110 shares in the last quarter. Institutional investors 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.