Entergy (NYSE:ETR) Price Target Raised to $138.00 at Bank of America

Entergy (NYSE:ETR) had its price objective boosted by Bank of America from $135.00 to $138.00 in a research report released on Thursday, Benzinga reports. Bank of America currently has a buy rating on the utilities provider’s stock.

Several other equities analysts have also commented on ETR. Scotiabank increased their price objective on shares of Entergy from $115.00 to $119.00 and gave the company a sector perform rating in a research report on Tuesday, August 20th. Mizuho raised their target price on shares of Entergy from $107.00 to $114.00 and gave the stock a buy rating in a report on Friday, May 31st. LADENBURG THALM/SH SH restated a neutral rating and issued a $109.50 target price (down previously from $117.00) on shares of Entergy in a report on Wednesday, June 12th. BMO Capital Markets raised their target price on shares of Entergy from $124.00 to $131.00 and gave the stock an outperform rating in a report on Monday, August 5th. 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 report on Monday, July 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $123.04.

Entergy Price Performance

ETR stock opened at $120.69 on Thursday. Entergy has a 52 week low of $87.10 and a 52 week high of $123.61. 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 company has a fifty day simple moving average of $113.05 and a two-hundred day simple moving average of $108.29. The firm has a market capitalization of $25.77 billion, a P/E ratio of 12.11, a price-to-earnings-growth ratio of 2.29 and a beta of 0.71.

Entergy (NYSE:ETR) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.92 EPS for the quarter, beating the consensus estimate 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 last year, the business earned $1.84 earnings per share. Analysts anticipate that Entergy will post 7.21 earnings per share for the current fiscal year.

Entergy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 13th will be issued a dividend of $1.13 per share. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $4.52 dividend on an annualized basis and a yield of 3.75%. Entergy’s payout ratio is 45.34%.

Insider Activity at Entergy

In related news, CEO Andrew S. Marsh sold 600 shares of Entergy stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $120.03, for a total transaction of $72,018.00. Following the completion of the sale, the chief executive officer now owns 150,731 shares in the company, valued at approximately $18,092,241.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Entergy news, COO Peter S. Norgeot, Jr. sold 11,472 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $4,363,182.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew S. Marsh sold 600 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $120.03, for a total transaction of $72,018.00. Following the transaction, the chief executive officer now directly owns 150,731 shares in the company, valued at approximately $18,092,241.93. The disclosure for this sale can be found here. Insiders sold 15,272 shares of company stock worth $1,781,806 in the last 90 days. 0.39% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ETR. Iron Horse Wealth Management LLC purchased a new position in shares of Entergy in the 2nd quarter worth approximately $25,000. Tidemark LLC purchased a new position in shares of Entergy in the 4th quarter worth approximately $25,000. Heritage Wealth Advisors grew its position in shares of Entergy by 2,172.7% in the 1st quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider’s stock worth $26,000 after buying an additional 239 shares during the last quarter. American National Bank grew its position in shares of Entergy by 93.7% in the 2nd quarter. American National Bank now owns 277 shares of the utilities provider’s stock worth $30,000 after buying an additional 134 shares during the last quarter. Finally, TruNorth Capital Management LLC purchased a new position in shares of Entergy in the 2nd quarter worth approximately $32,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Entergy Company Profile

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.