Citigroup Boosts Entergy (ETR) Price Target to $89.00

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Entergy (NYSE:ETR) had its target price boosted by Citigroup from $88.00 to $89.00 in a report issued on Wednesday. They currently have a buy rating on the utilities provider’s stock.

Several other research firms have also issued reports on ETR. Morgan Stanley lowered their price target on Entergy from $87.00 to $85.00 and set a hold rating for the company in a research report on Friday, September 21st. Scotiabank started coverage on Entergy in a research report on Tuesday, July 24th. They issued a hold rating and a $84.00 price target for the company. Bank of America lifted their price target on Entergy from $89.00 to $90.00 and gave the stock a buy rating in a research report on Thursday, August 23rd. Zacks Investment Research raised Entergy from a sell rating to a hold rating in a research report on Thursday, June 21st. Finally, JPMorgan Chase & Co. lifted their price target on Entergy from $82.00 to $85.00 and gave the stock a neutral rating in a research report on Wednesday, August 29th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Entergy has an average rating of Buy and an average target price of $88.79.

ETR opened at $84.12 on Wednesday. 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 stock has a market capitalization of $14.94 billion, a PE ratio of 11.68, a P/E/G ratio of 1.79 and a beta of 0.49. Entergy has a 1 year low of $71.95 and a 1 year high of $87.95.

Entergy (NYSE:ETR) last posted its quarterly earnings results on Wednesday, August 1st. The utilities provider reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.48. The firm had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.55 billion. Entergy had a return on equity of 13.45% and a net margin of 2.73%. During the same quarter in the previous year, the firm earned $3.11 EPS. Sell-side analysts forecast that Entergy will post 6.58 earnings per share for the current fiscal year.

In other Entergy news, insider Charles L. Rice, Jr. sold 5,766 shares of the business’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $82.70, for a total transaction of $476,848.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Phillip R. May, Jr. sold 3,000 shares of the business’s stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $84.00, for a total value of $252,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 37,377 shares of company stock valued at $3,141,926. 0.24% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the business. LSV Asset Management grew its stake in shares of Entergy by 11.3% during the 2nd quarter. LSV Asset Management now owns 6,327,956 shares of the utilities provider’s stock valued at $511,235,000 after purchasing an additional 643,668 shares during the period. Boston Partners grew its stake in shares of Entergy by 38.4% during the 2nd quarter. Boston Partners now owns 2,824,231 shares of the utilities provider’s stock valued at $228,170,000 after purchasing an additional 784,238 shares during the period. Millennium Management LLC grew its stake in shares of Entergy by 107.5% during the 2nd quarter. Millennium Management LLC now owns 2,700,290 shares of the utilities provider’s stock valued at $218,156,000 after purchasing an additional 1,398,892 shares during the period. FMR LLC grew its stake in shares of Entergy by 256.4% during the 2nd quarter. FMR LLC now owns 2,585,554 shares of the utilities provider’s stock valued at $208,886,000 after purchasing an additional 1,860,030 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Entergy by 2.8% during the 2nd quarter. Northern Trust Corp now owns 2,450,865 shares of the utilities provider’s stock valued at $198,006,000 after purchasing an additional 67,513 shares during the period. Institutional investors and hedge funds own 91.74% of the company’s stock.

About Entergy

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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Analyst Recommendations for Entergy (NYSE:ETR)

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