Entergy (NYSE:ETR) Price Target Lowered to $114.00 at Credit Suisse Group

Entergy (NYSE:ETRGet Rating) had its price target lowered by Credit Suisse Group from $136.00 to $114.00 in a research note published on Tuesday, The Fly reports. Credit Suisse Group currently has an outperform rating on the utilities provider’s stock.

ETR has been the topic of several other reports. StockNews.com initiated coverage on Entergy in a research report on Thursday, March 31st. They issued a hold rating on the stock. Morgan Stanley decreased their price target on Entergy from $115.00 to $111.00 and set an underweight rating for the company in a research report on Monday, May 23rd. Sanford C. Bernstein set a $100.00 price objective on Entergy and gave the stock a market perform rating in a research report on Tuesday, May 17th. Baader Bank set a $188.00 price target on Entergy in a report on Wednesday, May 18th. Finally, The Goldman Sachs Group set a $224.00 price objective on Entergy in a research note on Monday, May 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $121.50.

Entergy stock opened at $105.91 on Tuesday. The stock has a market cap of $21.54 billion, a P/E ratio of 20.21, a price-to-earnings-growth ratio of 2.72 and a beta of 0.58. The company has a current ratio of 0.72, a quick ratio of 0.49 and a debt-to-equity ratio of 2.24. The stock has a 50 day moving average of $117.15 and a 200-day moving average of $113.01. Entergy has a 52 week low of $98.50 and a 52 week high of $126.82.

Entergy (NYSE:ETRGet Rating) last released its earnings results on Wednesday, April 27th. The utilities provider reported $1.32 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.06). Entergy had a net margin of 8.99% and a return on equity of 10.44%. The business had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter last year, the company posted $1.47 earnings per share. As a group, equities analysts predict that Entergy will post 6.35 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1st. Investors of record on Thursday, May 5th were issued a $1.01 dividend. The ex-dividend date of this dividend was Wednesday, May 4th. This represents a $4.04 dividend on an annualized basis and a yield of 3.81%. Entergy’s dividend payout ratio is presently 77.10%.

In other Entergy news, CEO Leo P. Denault sold 57,889 shares of the stock in a transaction dated Friday, April 1st. The stock was sold at an average price of $120.10, for a total value of $6,952,468.90. Following the completion of the sale, the chief executive officer now directly owns 389,393 shares in the company, valued at $46,766,099.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Peter S. Norgeot, Jr. sold 4,068 shares of the stock in a transaction dated Wednesday, April 20th. The stock was sold at an average price of $125.62, for a total value of $511,022.16. Following the completion of the sale, the senior vice president now owns 25,355 shares of the company’s stock, valued at $3,185,095.10. The disclosure for this sale can be found here. Insiders sold 201,089 shares of company stock valued at $23,854,658 in the last quarter. 0.37% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in ETR. Capital International Investors increased its stake in shares of Entergy by 17.1% during the fourth quarter. Capital International Investors now owns 12,028,310 shares of the utilities provider’s stock worth $1,354,989,000 after purchasing an additional 1,758,132 shares during the period. BlackRock Inc. increased its stake in Entergy by 9.0% during the 1st quarter. BlackRock Inc. now owns 18,499,101 shares of the utilities provider’s stock worth $2,159,770,000 after acquiring an additional 1,533,746 shares during the period. Bank of America Corp DE increased its stake in Entergy by 17.2% during the 4th quarter. Bank of America Corp DE now owns 9,152,114 shares of the utilities provider’s stock worth $1,030,986,000 after acquiring an additional 1,343,409 shares during the period. State Street Corp increased its stake in Entergy by 8.1% during the 1st quarter. State Street Corp now owns 12,122,596 shares of the utilities provider’s stock worth $1,415,313,000 after acquiring an additional 908,932 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in Entergy by 35.8% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,699,404 shares of the utilities provider’s stock worth $315,156,000 after acquiring an additional 711,770 shares during the period. Institutional investors own 88.94% of the company’s stock.

About Entergy (Get Rating)

Entergy Corporation, together with its subsidiaries, engages in the production and distribution of electricity in the United States. It operates in two segments, Utility and Entergy Wholesale Commodities. The Utility segment generates, transmits, distributes, and sells electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, including the City of New Orleans; and distributes natural gas.

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