Entergy (NYSE:ETR) Price Target Raised to $170.00 at Wells Fargo & Company

Entergy (NYSE:ETR) had its price target lifted by research analysts at Wells Fargo & Company from $137.00 to $170.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 16.23% from the stock’s previous close.

A number of other analysts also recently commented on the stock. Royal Bank of Canada boosted their price target on shares of Entergy from $137.00 to $140.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. KeyCorp increased their price target on Entergy from $143.00 to $162.00 and gave the company an “overweight” rating in a research note on Friday. Scotiabank upped their price objective on Entergy from $119.00 to $144.00 and gave the company a “sector perform” rating in a report on Friday. Bank of America lifted their target price on Entergy from $135.00 to $138.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. upped their price target on shares of Entergy from $131.00 to $141.00 and gave the company an “overweight” rating in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $139.12.

Entergy Stock Performance

Shares of NYSE ETR traded down $8.52 during midday trading on Friday, hitting $146.26. 2,089,880 shares of the company’s stock were exchanged, compared to its average volume of 1,590,472. Entergy has a twelve month low of $94.85 and a twelve month high of $156.85. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.62. The firm has a market cap of $31.27 billion, a P/E ratio of 17.76, a PEG ratio of 2.54 and a beta of 0.74. The stock’s 50 day moving average price is $129.20 and its 200-day moving average price is $116.82.

Entergy (NYSE:ETR) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $2.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.91 by $0.08. Entergy had a return on equity of 10.10% and a net margin of 14.75%. The company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.46 billion. During the same quarter in the prior year, the business posted $3.27 earnings per share. Equities research analysts anticipate that Entergy will post 7.21 EPS for the current year.

Insider Buying and Selling

In other news, COO Peter S. Norgeot, Jr. sold 11,472 shares of the business’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 in the company, valued at approximately $4,363,182.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Entergy news, COO Peter S. Norgeot, Jr. sold 7,922 shares of Entergy stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $130.00, for a total transaction of $1,029,860.00. Following the sale, the chief operating officer now owns 34,993 shares in the company, valued at $4,549,090. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Peter S. Norgeot, Jr. sold 11,472 shares of the stock in a transaction 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 completion of the transaction, the chief operating officer now owns 37,888 shares of the company’s stock, valued at approximately $4,363,182.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,810 shares of company stock valued at $6,140,626. 0.39% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ETR. CWA Asset Management Group LLC bought a new stake in Entergy in the third quarter valued at $2,030,000. Capital Performance Advisors LLP acquired a new position in Entergy in the third quarter valued at about $51,000. Portside Wealth Group LLC grew its stake in Entergy by 2.5% during the third quarter. Portside Wealth Group LLC now owns 5,927 shares of the utilities provider’s stock worth $780,000 after buying an additional 144 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Entergy by 4.0% during the third quarter. Principal Financial Group Inc. now owns 280,262 shares of the utilities provider’s stock worth $36,885,000 after buying an additional 10,697 shares in the last quarter. Finally, Jackson Square Capital LLC acquired a new position in shares of Entergy in the 3rd quarter worth approximately $865,000. 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.