Entergy Corp. (ETR) Given New $76.00 Price Target at Citigroup Inc.
Other equities research analysts have also issued research reports about the stock. Guggenheim upgraded shares of Entergy Corp. from a neutral rating to a buy rating and set a $86.00 target price for the company in a report on Monday, August 22nd. Goldman Sachs Group Inc. upgraded shares of Entergy Corp. from a buy rating to a conviction-buy rating and raised their target price for the stock from $87.00 to $88.00 in a report on Monday, June 6th. Deutsche Bank AG lowered their target price on shares of Entergy Corp. from $83.00 to $82.00 and set a hold rating for the company in a report on Wednesday, August 3rd. Bank of America Corp. restated a hold rating on shares of Entergy Corp. in a report on Friday, June 10th. Finally, Morgan Stanley restated a hold rating on shares of Entergy Corp. in a report on Friday, June 10th. Ten investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Entergy Corp. currently has a consensus rating of Hold and an average price target of $79.41.
Entergy Corp. (NYSE:ETR) traded down 0.39% during midday trading on Tuesday, reaching $73.73. 488,780 shares of the company traded hands. The stock has a market capitalization of $13.20 billion, a P/E ratio of 76.17 and a beta of 0.38. Entergy Corp. has a one year low of $64.11 and a one year high of $82.09. The company has a 50 day moving average price of $78.55 and a 200-day moving average price of $78.14.
Entergy Corp. (NYSE:ETR) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $3.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $2.06. Entergy Corp. had a net margin of 1.78% and a return on equity of 15.34%. During the same quarter last year, the company earned $0.83 earnings per share. Analysts forecast that Entergy Corp. will post $6.61 EPS for the current fiscal year.
In related news, insider Haley Fisackerly sold 1,250 shares of the business’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $77.60, for a total value of $97,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charles L. Rice, Jr. sold 760 shares of the business’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $79.36, for a total transaction of $60,313.60. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the company. Iowa State Bank acquired a new stake in Entergy Corp. during the second quarter worth about $103,000. Nikko Asset Management Americas Inc. acquired a new stake in Entergy Corp. during the first quarter worth about $111,000. Tower Research Capital LLC TRC raised its stake in Entergy Corp. by 70.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,928 shares of the company’s stock worth $157,000 after buying an additional 797 shares during the last quarter. Washington Trust Bank raised its stake in Entergy Corp. by 11.5% in the second quarter. Washington Trust Bank now owns 1,936 shares of the company’s stock worth $157,000 after buying an additional 199 shares during the last quarter. Finally, Mizuho Asset Management Co. Ltd. raised its stake in Entergy Corp. by 75.5% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,345 shares of the company’s stock worth $191,000 after buying an additional 1,009 shares during the last quarter. 85.22% of the stock is owned by institutional investors.
About Entergy Corp.
Entergy Corporation is a holding company. The Company is an integrated energy company engaged in electric power production and retail electric distribution operations. It operates through two business segments: Utility and Entergy Wholesale Commodities. The Utility segment includes the generation, transmission, distribution and sale of electric power to retail and wholesale customers in areas of Arkansas, Mississippi, Texas and Louisiana, including the City of New Orleans and operates a natural gas distribution business.
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