Argus Upgrades Entergy (NYSE:ETR) to “Strong-Buy”

Entergy (NYSE:ETR) was upgraded by stock analysts at Argus to a “strong-buy” rating in a report issued on Wednesday, Zacks.com reports.

Several other brokerages have also recently commented on ETR. Guggenheim increased their price target on shares of Entergy from $118.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Wells Fargo & Company lifted their target price on Entergy from $125.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. boosted their price target on Entergy from $131.00 to $141.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Morgan Stanley raised their price objective on Entergy from $100.00 to $109.00 and gave the stock an “underweight” rating in a research note on Friday, August 23rd. Finally, Barclays lowered their target price on shares of Entergy from $116.00 to $115.00 and set an “equal weight” rating for the company in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $123.04.

Entergy Price Performance

ETR stock opened at $119.83 on Wednesday. The company has a market capitalization of $25.59 billion, a PE ratio of 12.02, a P/E/G ratio of 2.29 and a beta of 0.71. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 1.81. The stock’s 50 day moving average is $112.48 and its two-hundred day moving average is $108.06. Entergy has a 52-week low of $87.10 and a 52-week high of $123.61.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.16. Entergy had a net margin of 14.75% and a return on equity of 10.10%. The business had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the previous year, the firm earned $1.84 earnings per share. Analysts predict that Entergy will post 7.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Entergy

In related news, CEO Andrew S. Marsh sold 3,200 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $121.46, for a total value of $388,672.00. Following the sale, the chief executive officer now directly owns 150,731 shares in the company, valued at approximately $18,307,787.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Andrew S. Marsh sold 3,200 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $121.46, for a total value of $388,672.00. Following the completion of the transaction, the chief executive officer now owns 150,731 shares in the company, valued at approximately $18,307,787.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Peter S. Norgeot, Jr. sold 11,472 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $115.16, for a total transaction of $1,321,115.52. Following the transaction, the chief operating officer now owns 37,888 shares in the company, valued at approximately $4,363,182.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,272 shares of company stock worth $1,781,806. 0.39% of the stock is owned by company insiders.

Institutional Investors Weigh In On Entergy

Several hedge funds and other institutional investors have recently bought and sold shares of ETR. Atria Wealth Solutions Inc. increased its holdings in shares of Entergy by 211.5% in the fourth quarter. Atria Wealth Solutions Inc. now owns 7,230 shares of the utilities provider’s stock valued at $732,000 after buying an additional 4,909 shares in the last quarter. Kestra Private Wealth Services LLC lifted its holdings in shares of Entergy by 6.6% during the fourth quarter. Kestra Private Wealth Services LLC now owns 8,399 shares of the utilities provider’s stock valued at $850,000 after purchasing an additional 518 shares during the last quarter. Brighton Jones LLC purchased a new stake in shares of Entergy during the fourth quarter valued at $237,000. Great Valley Advisor Group Inc. boosted its position in shares of Entergy by 1.7% in the 4th quarter. Great Valley Advisor Group Inc. now owns 7,797 shares of the utilities provider’s stock valued at $789,000 after purchasing an additional 131 shares during the period. Finally, First Trust Direct Indexing L.P. raised its holdings in Entergy by 12.5% during the 4th quarter. First Trust Direct Indexing L.P. now owns 3,874 shares of the utilities provider’s stock worth $392,000 after buying an additional 429 shares during the period. 88.07% of the stock is currently owned by institutional investors.

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.