Scotiabank Lowers Entergy (NYSE:ETR) Price Target to $104.00

Entergy (NYSE:ETR) had its target price lowered by analysts at Scotiabank from $111.00 to $104.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “sector perform” rating on the utilities provider’s stock. Scotiabank’s price target would suggest a potential downside of 3.31% from the stock’s current price.

Several other analysts have also weighed in on the stock. KeyCorp raised their price objective on shares of Entergy from $108.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday. BMO Capital Markets increased their target price on Entergy from $110.00 to $113.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. Barclays cut their price target on Entergy from $108.00 to $107.00 and set an “equal weight” rating for the company in a report on Monday, April 15th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $117.00 price objective on shares of Entergy in a research report on Monday, February 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $109.45.

Entergy Price Performance

Shares of Entergy stock traded up $0.79 during midday trading on Monday, hitting $107.56. 815,358 shares of the company were exchanged, compared to its average volume of 1,369,512. The firm has a 50 day simple moving average of $102.62 and a 200-day simple moving average of $100.27. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.57 and a quick ratio of 0.32. The firm has a market cap of $22.94 billion, a P/E ratio of 9.70, a PEG ratio of 2.11 and a beta of 0.71. Entergy has a 52 week low of $87.10 and a 52 week high of $109.53.

Entergy (NYSE:ETR) last issued its earnings results on Thursday, February 22nd. The utilities provider reported $0.52 EPS for the quarter, meeting the consensus estimate of $0.52. The company had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $3.27 billion. Entergy had a net margin of 19.41% and a return on equity of 10.54%. During the same quarter in the previous year, the company earned $0.51 EPS. Research analysts forecast that Entergy will post 7.22 earnings per share for the current year.

Insider Buying and Selling at Entergy

In related news, EVP Kimberly Cook-Nelson sold 2,000 shares of Entergy stock in a transaction on Friday, March 1st. The stock was sold at an average price of $100.35, for a total transaction of $200,700.00. Following the completion of the sale, the executive vice president now directly owns 16,037 shares of the company’s stock, valued at $1,609,312.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Deanna D. Rodriguez sold 1,500 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $101.23, for a total value of $151,845.00. Following the completion of the transaction, the insider now owns 3,442 shares of the company’s stock, valued at approximately $348,433.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kimberly Cook-Nelson sold 2,000 shares of Entergy stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $100.35, for a total value of $200,700.00. Following the transaction, the executive vice president now owns 16,037 shares in the company, valued at $1,609,312.95. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,000 shares of company stock worth $1,226,685. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Entergy

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Entergy by 0.4% in the third quarter. Vanguard Group Inc. now owns 26,038,725 shares of the utilities provider’s stock valued at $2,408,582,000 after buying an additional 104,803 shares in the last quarter. FMR LLC lifted its position in Entergy by 64.4% in the 3rd quarter. FMR LLC now owns 4,562,369 shares of the utilities provider’s stock valued at $422,019,000 after acquiring an additional 1,787,977 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Entergy by 1.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,506,843 shares of the utilities provider’s stock worth $416,883,000 after purchasing an additional 48,047 shares during the period. Franklin Resources Inc. increased its holdings in Entergy by 25.2% during the 4th quarter. Franklin Resources Inc. now owns 3,961,859 shares of the utilities provider’s stock worth $400,901,000 after purchasing an additional 796,316 shares in the last quarter. Finally, ClearBridge Investments Ltd raised its position in Entergy by 29.3% in the 4th quarter. ClearBridge Investments Ltd now owns 3,115,468 shares of the utilities provider’s stock valued at $315,254,000 after buying an additional 706,059 shares during the last quarter. Institutional investors own 88.07% of the company’s stock.

Entergy Company Profile

Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. It 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.