Entergy Corp. (ETR) Stock Rating Upgraded by Zacks Investment Research
Entergy Corp. (NYSE:ETR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The brokerage currently has a $84.00 price objective on the stock. Zacks Investment Research’s price objective points to a potential upside of 12.18% from the stock’s previous close.
According to Zacks, “Entergy is gradually shifting from being a hybrid to a pure-play utility. It is looking for opportunities in its core utility business, which operates in parts of Arkansas, Louisiana, Mississippi and Texas. Entergy expects earnings from its utility, parent and other segment to rise roughly 5% to 7% a year through 2020. Its disciplined investments in its generation and distribution businesses as well as sturdy expansion of transmission lines are expected to boost its financials, while strengthening reliability services for its customers. Further, to diminish the risk and volatility in the EWC business, the company is gradually reducing its EWC footprint; which may become less than 5% in 2018. However, dependence on regulatory authorities for rate relief and price fluctuations in wholesale power markets could be a growth deterrent. Any adverse decision in pending regulatory cases can also materially impact Entergy's earnings.”
Other equities analysts also recently issued reports about the stock. Guggenheim upgraded shares of Entergy Corp. from a “neutral” rating to a “buy” rating and set a $86.00 price objective on the stock in a research note on Monday, August 22nd. 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 research note on Wednesday, August 3rd. Finally, Citigroup Inc. lowered their target price on shares of Entergy Corp. from $83.00 to $76.00 and set a “neutral” rating for the company in a research note on Tuesday, October 4th. Nine equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $80.65.
Shares of Entergy Corp. (NYSE:ETR) traded down 0.45% during midday trading on Friday, hitting $74.54. 561,517 shares of the stock were exchanged. The firm’s 50-day moving average is $77.61 and its 200-day moving average is $77.92. Entergy Corp. has a 12 month low of $64.11 and a 12 month high of $82.09. The stock has a market cap of $13.34 billion, a price-to-earnings ratio of 77.00 and a beta of 0.38.
Entergy Corp. (NYSE:ETR) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $3.11 earnings per share (EPS) for the quarter, beating the Zacks’ 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 in the prior year, the firm earned $0.83 EPS. Equities research analysts predict that Entergy Corp. will post $6.72 earnings per share for the current year.
In related news, 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 transaction of $60,313.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 disclosure for this sale can be found here. Corporate insiders own 0.22% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of ETR. Iowa State Bank acquired a new position in shares of Entergy Corp. during the second quarter valued at about $103,000. Washington Trust Bank boosted its position in shares of Entergy Corp. by 2.8% in the third quarter. Washington Trust Bank now owns 1,991 shares of the company’s stock valued at $153,000 after buying an additional 55 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Entergy Corp. by 70.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,928 shares of the company’s stock valued at $157,000 after buying an additional 797 shares during the period. Mizuho Asset Management Co. Ltd. boosted its position in shares of Entergy Corp. by 75.5% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,345 shares of the company’s stock valued at $191,000 after buying an additional 1,009 shares during the period. Finally, FUKOKU MUTUAL LIFE INSURANCE Co boosted its position in shares of Entergy Corp. by 20.0% in the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 2,400 shares of the company’s stock valued at $195,000 after buying an additional 400 shares during the period. 85.22% of the stock is owned by hedge funds and other institutional investors.
Entergy Corp. Company Profile
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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