Brokerages Set Entergy Co. (ETR) Price Target at $87.59
Entergy Co. (NYSE:ETR) has received an average rating of “Buy” from the sixteen research firms that are currently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $87.86.
ETR has been the subject of several recent research reports. Scotiabank initiated coverage on Entergy in a report on Tuesday, July 24th. They set a “hold” rating and a $84.00 price target for the company. Bank of America upped their price target on Entergy from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, August 23rd. Zacks Investment Research upgraded Entergy from a “sell” rating to a “hold” rating in a report on Thursday, June 21st. JPMorgan Chase & Co. upped their price target on Entergy from $82.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, UBS Group upgraded Entergy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $85.00 to $92.00 in a report on Friday, August 3rd.
Shares of Entergy stock opened at $84.33 on Tuesday. Entergy has a 12-month low of $71.95 and a 12-month high of $87.95. The firm has a market cap of $15.12 billion, a P/E ratio of 11.71, a P/E/G ratio of 1.88 and a beta of 0.51. The company has a quick ratio of 0.42, a current ratio of 0.57 and a debt-to-equity ratio of 1.85.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 4th. Shareholders of record on Thursday, August 9th will be paid a $0.89 dividend. The ex-dividend date is Wednesday, August 8th. This represents a $3.56 dividend on an annualized basis and a yield of 4.22%. Entergy’s dividend payout ratio (DPR) is presently 49.44%.
In other news, COO Paul D. Hinnenkamp sold 13,500 shares of the stock in a transaction on Friday, August 3rd. The stock was sold at an average price of $83.67, for a total transaction of $1,129,545.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Haley Fisackerly sold 2,750 shares of the stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $84.97, for a total value of $233,667.50. The disclosure for this sale can be found here. Insiders sold a total of 37,377 shares of company stock valued at $3,141,926 in the last 90 days. Corporate insiders own 0.24% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Fisher Asset Management LLC bought a new position in shares of Entergy during the 1st quarter worth $406,000. Cognios Capital LLC grew its stake in shares of Entergy by 5.4% during the 2nd quarter. Cognios Capital LLC now owns 29,280 shares of the utilities provider’s stock worth $2,364,000 after acquiring an additional 1,489 shares during the period. New York State Teachers Retirement System grew its stake in shares of Entergy by 5.7% during the 2nd quarter. New York State Teachers Retirement System now owns 256,631 shares of the utilities provider’s stock worth $20,733,000 after acquiring an additional 13,803 shares during the period. DnB Asset Management AS grew its stake in shares of Entergy by 7.9% during the 2nd quarter. DnB Asset Management AS now owns 28,555 shares of the utilities provider’s stock worth $2,307,000 after acquiring an additional 2,100 shares during the period. Finally, Naples Global Advisors LLC bought a new position in shares of Entergy during the 2nd quarter worth $206,000. Institutional investors own 91.46% of the company’s stock.
Entergy Corporation, together with its subsidiaries, engages in the production and distribution of electricity in the United States. It generates electricity through gas/oil, nuclear, coal, hydro, and solar power sources. The company's Utility segment generates, transmits, distributes, and sells electric power in portions of Arkansas, Mississippi, Texas, and Louisiana, including the City of New Orleans; and distributes natural gas.
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