Morgan Stanley Cuts Entergy (NYSE:ETR) Price Target to $81.00

Entergy (NYSE:ETR) had its target price cut by Morgan Stanley from $82.00 to $81.00 in a research note released on Wednesday,Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

A number of other equities research analysts have also weighed in on ETR. Raymond James Financial began coverage on shares of Entergy in a report on Friday, June 13th. They set a “market perform” rating on the stock. UBS Group increased their price objective on Entergy from $86.00 to $96.00 and gave the company a “buy” rating in a report on Friday, March 21st. BMO Capital Markets upped their target price on Entergy from $89.00 to $93.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. KeyCorp raised shares of Entergy from a “sector weight” rating to an “overweight” rating and set a $85.00 price target for the company in a research report on Wednesday, May 14th. Finally, Evercore ISI increased their price objective on shares of Entergy from $75.00 to $86.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $86.25.

Entergy Trading Up 0.1%

NYSE:ETR opened at $80.99 on Wednesday. The firm has a market cap of $34.89 billion, a P/E ratio of 26.30, a P/E/G ratio of 2.20 and a beta of 0.59. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.55 and a current ratio of 0.82. Entergy has a one year low of $52.07 and a one year high of $88.38. The firm has a 50-day simple moving average of $82.68 and a 200-day simple moving average of $81.32.

Entergy (NYSE:ETR) last announced its earnings results on Tuesday, April 29th. The utilities provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.22. The firm had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.13 billion. Entergy had a return on equity of 11.43% and a net margin of 11.26%. During the same period in the previous year, the business earned $0.54 EPS. Equities analysts anticipate that Entergy will post 3.88 EPS for the current fiscal year.

Entergy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 2nd were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $2.40 annualized dividend and a dividend yield of 2.96%. Entergy’s dividend payout ratio is presently 77.92%.

Hedge Funds Weigh In On Entergy

Hedge funds have recently bought and sold shares of the business. Mattson Financial Services LLC raised its stake in shares of Entergy by 100.0% during the 1st quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider’s stock worth $26,000 after buying an additional 150 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Entergy in the 1st quarter worth $28,000. NBT Bank N A NY raised its position in Entergy by 100.0% during the fourth quarter. NBT Bank N A NY now owns 340 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 170 shares during the period. Fortis Group Advisors LLC lifted its holdings in Entergy by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 172 shares in the last quarter. Finally, Grove Bank & Trust grew its position in shares of Entergy by 188.5% in the first quarter. Grove Bank & Trust now owns 352 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 230 shares during the period. Hedge funds and other 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.