Entergy Corporation (ETR) Lifted to “Buy” at Mizuho
Several other research firms also recently issued reports on ETR. ValuEngine upgraded shares of Entergy Corporation from a hold rating to a buy rating in a report on Monday, August 7th. J P Morgan Chase & Co upped their price objective on shares of Entergy Corporation from $83.00 to $84.00 and gave the company a neutral rating in a report on Thursday, October 12th. Bank of America Corporation initiated coverage on shares of Entergy Corporation in a report on Tuesday, October 24th. They set a neutral rating and a $86.00 price objective on the stock. Wells Fargo & Company restated an outperform rating and set a $96.00 price objective (up previously from $90.00) on shares of Entergy Corporation in a report on Wednesday, October 25th. Finally, Morgan Stanley upped their price objective on shares of Entergy Corporation from $82.00 to $84.00 and gave the company an underweight rating in a report on Friday, September 8th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $82.42.
Shares of Entergy Corporation (NYSE ETR) opened at $85.65 on Friday. The company has a market cap of $15,370.00, a PE ratio of 12.80, a price-to-earnings-growth ratio of 1.78 and a beta of 0.57. Entergy Corporation has a 1 year low of $67.56 and a 1 year high of $87.95. The company has a current ratio of 0.78, a quick ratio of 0.58 and a debt-to-equity ratio of 1.61.
Entergy Corporation (NYSE:ETR) last posted its quarterly earnings data on Tuesday, October 24th. The utilities provider reported $2.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.24 by $0.11. Entergy Corporation had a negative net margin of 7.82% and a positive return on equity of 14.76%. The firm had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the company posted $2.31 earnings per share. equities research analysts predict that Entergy Corporation will post 6.93 EPS for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Thursday, November 9th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend is Wednesday, November 8th. This is an increase from Entergy Corporation’s previous quarterly dividend of $0.87. Entergy Corporation’s dividend payout ratio is -72.06%.
In other news, insider Charles L. Rice, Jr. sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $78.95, for a total transaction of $78,950.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Paul D. Hinnenkamp sold 2,300 shares of the firm’s stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $84.00, for a total transaction of $193,200.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,812 shares of company stock worth $4,986,472. 0.24% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of ETR. Thrivent Financial For Lutherans grew its stake in shares of Entergy Corporation by 5.6% during the 1st quarter. Thrivent Financial For Lutherans now owns 6,600 shares of the utilities provider’s stock worth $501,000 after purchasing an additional 350 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Entergy Corporation by 2.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 406,463 shares of the utilities provider’s stock worth $30,875,000 after purchasing an additional 9,521 shares during the period. Gateway Investment Advisers LLC grew its stake in shares of Entergy Corporation by 2.8% during the 2nd quarter. Gateway Investment Advisers LLC now owns 12,675 shares of the utilities provider’s stock worth $973,000 after purchasing an additional 349 shares during the period. Creative Planning grew its stake in shares of Entergy Corporation by 10.5% during the 2nd quarter. Creative Planning now owns 12,520 shares of the utilities provider’s stock worth $961,000 after purchasing an additional 1,187 shares during the period. Finally, Louisiana State Employees Retirement System grew its stake in shares of Entergy Corporation by 0.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the utilities provider’s stock worth $852,000 after purchasing an additional 100 shares during the period. 82.95% of the stock is currently owned by institutional investors and hedge funds.
About Entergy Corporation
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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