Entergy Corporation (ETR) Lifted to “Equal Weight” at Morgan Stanley
Morgan Stanley upgraded shares of Entergy Corporation (NYSE:ETR) from an underweight rating to an equal weight rating in a research report sent to investors on Thursday morning, MarketBeat.com reports. They currently have $82.00 price target on the utilities provider’s stock, down from their prior price target of $84.00.
A number of other research firms have also commented on ETR. ValuEngine upgraded shares of Entergy Corporation from a hold rating to a buy rating in a research report on Monday, August 7th. Zacks Investment Research lowered shares of Entergy Corporation from a hold rating to a sell rating in a research report on Friday, June 16th. Jefferies Group LLC restated a hold rating and issued a $78.00 price objective on shares of Entergy Corporation in a research report on Thursday, July 6th. Wells Fargo & Company raised their price objective on shares of Entergy Corporation from $83.50 to $88.00 and gave the company an outperform rating in a research report on Wednesday, May 31st. Finally, BMO Capital Markets restated a hold rating and issued a $78.00 price objective on shares of Entergy Corporation in a research report on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $78.17.
Entergy Corporation (NYSE:ETR) opened at 76.75 on Thursday. The firm’s market capitalization is $13.78 billion. Entergy Corporation has a 12 month low of $66.71 and a 12 month high of $81.83. The stock has a 50 day moving average of $78.33 and a 200 day moving average of $77.11.
Entergy Corporation (NYSE:ETR) last released its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $3.11 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $1.91. Entergy Corporation had a negative net margin of 7.98% and a positive return on equity of 14.08%. The company had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same period last year, the business earned $3.16 earnings per share. On average, equities analysts predict that Entergy Corporation will post $6.70 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Thursday, August 10th were paid a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend was Tuesday, August 8th. Entergy Corporation’s dividend payout ratio is currently -69.74%.
In other Entergy Corporation news, insider Sallie T. Rainer sold 1,000 shares of Entergy Corporation stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $77.78, for a total transaction of $77,780.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Alexis M. Herman sold 995 shares of Entergy Corporation stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $76.38, for a total transaction of $75,998.10. The disclosure for this sale can be found here. Insiders sold 3,495 shares of company stock worth $271,313 over the last ninety days. 0.24% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. raised its stake in shares of Entergy Corporation by 46.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,300 shares of the utilities provider’s stock worth $100,000 after acquiring an additional 410 shares in the last quarter. V Wealth Management LLC purchased a new position in shares of Entergy Corporation during the second quarter worth approximately $106,000. Advisory Services Network LLC raised its stake in shares of Entergy Corporation by 2.1% during the second quarter. Advisory Services Network LLC now owns 2,335 shares of the utilities provider’s stock worth $179,000 after acquiring an additional 49 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of Entergy Corporation by 291.6% during the first quarter. Parallel Advisors LLC now owns 2,377 shares of the utilities provider’s stock worth $182,000 after acquiring an additional 1,770 shares in the last quarter. Finally, Tiedemann Wealth Management LLC purchased a new position in shares of Entergy Corporation during the first quarter worth approximately $203,000. 84.16% of the stock is currently owned by hedge funds and other institutional investors.
Entergy Corporation 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. The Company 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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