Entergy Corporation (NYSE:ETR) had its price objective boosted by research analysts at Morgan Stanley from $79.00 to $82.00 in a research report issued to clients and investors on Thursday. The brokerage currently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s price objective suggests a potential upside of 6.72% from the company’s current price.
A number of other brokerages also recently issued reports on ETR. Zacks Investment Research downgraded Entergy Corporation from a “hold” rating to a “sell” rating in a research report on Friday, June 16th. ValuEngine downgraded Entergy Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Wells Fargo & Company lifted their price target on Entergy Corporation from $83.50 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, May 31st. BMO Capital Markets reiterated a “hold” rating and set a $78.00 price target on shares of Entergy Corporation in a research report on Friday, August 4th. Finally, Mizuho dropped their price target on Entergy Corporation from $79.00 to $76.00 and set a “neutral” rating for the company in a research report on Friday, April 28th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $78.77.
Entergy Corporation (ETR) traded up 0.04% on Thursday, hitting $76.84. 1,239,617 shares of the stock were exchanged. Entergy Corporation has a 52-week low of $66.71 and a 52-week high of $81.83. The firm’s market cap is $13.79 billion. The company has a 50-day moving average price of $76.66 and a 200-day moving average price of $75.83.
Entergy Corporation (NYSE:ETR) last issued its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $3.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $1.91. The firm had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.44 billion. Entergy Corporation had a positive return on equity of 14.08% and a negative net margin of 7.98%. During the same quarter last year, the company posted $3.16 EPS. On average, equities research analysts anticipate that Entergy Corporation will post $5.71 EPS for the current fiscal year.
In other Entergy Corporation news, Director Alexis M. Herman sold 995 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $76.38, for a total value of $75,998.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Haley Fisackerly sold 600 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $75.92, for a total value of $45,552.00. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. increased its stake in shares of Entergy Corporation by 46.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,300 shares of the utilities provider’s stock valued at $100,000 after buying an additional 410 shares during the last quarter. V Wealth Management LLC bought a new stake in shares of Entergy Corporation during the second quarter valued at $106,000. Ledyard National Bank bought a new stake in shares of Entergy Corporation during the first quarter valued at $123,000. Advisory Services Network LLC bought a new stake in shares of Entergy Corporation during the first quarter valued at $174,000. Finally, Parallel Advisors LLC increased its stake in shares of Entergy Corporation by 291.6% in the first quarter. Parallel Advisors LLC now owns 2,377 shares of the utilities provider’s stock valued at $182,000 after buying an additional 1,770 shares during the last quarter. Hedge funds and other institutional investors own 83.29% of the company’s stock.
Entergy Corporation Company Profile
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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