Entergy (NYSE:ETR) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Entergy (NYSE:ETR) from a hold rating to a sell rating in a research note released on Saturday morning.

A number of other equities analysts also recently commented on ETR. JPMorgan Chase & Co. reduced their price objective on shares of Entergy from $113.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, December 11th. Argus set a $100.00 price target on shares of Entergy and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Siebert Williams Shank assumed coverage on shares of Entergy in a research note on Tuesday, January 20th. They set a “buy” rating and a $109.00 price target for the company. BTIG Research raised Entergy to a “strong-buy” rating in a report on Wednesday, October 22nd. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $104.00 target price (up from $96.00) on shares of Entergy in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Entergy currently has a consensus rating of “Moderate Buy” and an average target price of $104.83.

Entergy Price Performance

Shares of ETR stock opened at $95.49 on Friday. Entergy has a 12 month low of $75.57 and a 12 month high of $98.58. The company has a market capitalization of $42.65 billion, a P/E ratio of 23.58, a P/E/G ratio of 2.14 and a beta of 0.65. The stock has a 50 day moving average of $93.95 and a two-hundred day moving average of $92.69. The company has a current ratio of 0.71, a quick ratio of 0.48 and a debt-to-equity ratio of 1.62.

Entergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Monday, February 9th will be paid a $0.64 dividend. The ex-dividend date is Monday, February 9th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.7%. Entergy’s payout ratio is 63.21%.

Insider Activity at Entergy

In other Entergy news, Director Ralph Lewis Ropp purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were acquired at an average cost of $96.69 per share, for a total transaction of $96,690.00. Following the transaction, the director directly owned 1,050 shares in the company, valued at approximately $101,524.50. The trade was a 2,000.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.47% of the stock is owned by insiders.

Hedge Funds Weigh In On Entergy

A number of institutional investors and hedge funds have recently bought and sold shares of the business. United Community Bank raised its holdings in shares of Entergy by 806.7% in the fourth quarter. United Community Bank now owns 272 shares of the utilities provider’s stock valued at $25,000 after buying an additional 242 shares during the last quarter. Capital A Wealth Management LLC increased its position in Entergy by 5,466.7% in the 2nd quarter. Capital A Wealth Management LLC now owns 334 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 328 shares in the last quarter. GoalVest Advisory LLC raised its stake in shares of Entergy by 5,733.3% in the second quarter. GoalVest Advisory LLC now owns 350 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 344 shares during the last quarter. Atlantic Union Bankshares Corp bought a new position in shares of Entergy in the second quarter worth about $30,000. Finally, Physician Wealth Advisors Inc. lifted its position in shares of Entergy by 56.9% during the third quarter. Physician Wealth Advisors Inc. now owns 317 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 115 shares in the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

About Entergy

Entergy Corporation (NYSE:ETR) is an integrated energy company headquartered in New Orleans, Louisiana, that generates, transmits and distributes electricity. The company’s operations combine regulated utility services with competitive power production, supplying retail electricity to residential, commercial and industrial customers while also participating in wholesale energy markets. Entergy’s generation fleet includes nuclear, natural gas, hydropower and other resources, and it operates a network of transmission and distribution assets to deliver power to end users.

Entergy conducts its regulated utility business through state-based operating subsidiaries that serve customers across parts of Arkansas, Louisiana, Mississippi and southeast Texas.