Investors Buy Shares of Entergy Corp. (ETR) on Weakness After Analyst Downgrade
Investors bought shares of Entergy Corp. (NYSE:ETR) on weakness during trading on Wednesday after Citigroup lowered their price target on the stock from $83.00 to $76.00. $61.74 million flowed into the stock on the tick-up and $20.23 million flowed out of the stock on the tick-down, for a money net flow of $41.51 million into the stock. Of all equities tracked, Entergy Corp. had the 10th highest net in-flow for the day. Entergy Corp. traded down ($0.67) for the day and closed at $73.35
Several other brokerages have also recently weighed in on ETR. Guggenheim raised shares of Entergy Corp. from a “neutral” rating to a “buy” rating and set a $86.00 price target for the company in a research note on Monday, August 22nd. Deutsche Bank AG decreased their price target on shares of Entergy Corp. from $83.00 to $82.00 and set a “hold” rating for the company in a research note on Wednesday, August 3rd. Bank of America Corp. reaffirmed a “hold” rating on shares of Entergy Corp. in a research note on Friday, June 10th. Morgan Stanley reaffirmed a “hold” rating on shares of Entergy Corp. in a research note on Friday, June 10th. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $81.00 price target on shares of Entergy Corp. in a research note on Friday, June 10th. Ten equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Entergy Corp. currently has a consensus rating of “Hold” and an average price target of $79.41.
In other Entergy Corp. news, insider Haley Fisackerly sold 1,250 shares of the firm’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $77.60, for a total transaction of $97,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Charles L. Rice, Jr. sold 760 shares of the firm’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $79.36, for a total value of $60,313.60. The disclosure for this sale can be found here. Company insiders own 0.22% of the company’s stock.
A number of large investors have recently made changes to their positions in ETR. Credit Agricole S A increased its stake in shares of Entergy Corp. by 21.1% in the first quarter. Credit Agricole S A now owns 72,110 shares of the company’s stock valued at $5,718,000 after buying an additional 12,552 shares in the last quarter. Carnick & Kubik LLC increased its stake in Entergy Corp. by 0.7% in the first quarter. Carnick & Kubik LLC now owns 8,305 shares of the company’s stock worth $658,000 after buying an additional 60 shares in the last quarter. Aviva PLC increased its stake in Entergy Corp. by 4.2% in the first quarter. Aviva PLC now owns 91,794 shares of the company’s stock worth $7,277,000 after buying an additional 3,739 shares in the last quarter. M&T Bank Corp increased its stake in Entergy Corp. by 40.3% in the first quarter. M&T Bank Corp now owns 19,148 shares of the company’s stock worth $1,517,000 after buying an additional 5,503 shares in the last quarter. Finally, Advisor Partners LLC increased its stake in Entergy Corp. by 15.9% in the first quarter. Advisor Partners LLC now owns 3,458 shares of the company’s stock worth $274,000 after buying an additional 475 shares in the last quarter. 85.22% of the stock is owned by institutional investors and hedge funds.
The firm has a 50 day moving average price of $78.31 and a 200-day moving average price of $78.07. The stock has a market capitalization of $13.21 billion, a P/E ratio of 76.25 and a beta of 0.38.
Entergy Corp. (NYSE:ETR) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $3.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $2.06. Entergy Corp. had a return on equity of 15.34% and a net margin of 1.78%. During the same quarter in the prior year, the company earned $0.83 earnings per share. On average, analysts forecast that Entergy Corp. will post $6.72 EPS for the current fiscal year.
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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