Entergy (ETR) – Research Analysts’ Recent Ratings Changes

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Entergy (NYSE: ETR) recently received a number of ratings updates from brokerages and research firms:

  • 5/16/2019 – Entergy had its price target raised by analysts at Morgan Stanley from $104.00 to $105.00. They now have an “overweight” rating on the stock.
  • 5/2/2019 – Entergy was given a new $100.00 price target on by analysts at Macquarie. They now have a “buy” rating on the stock.
  • 5/1/2019 – Entergy was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 4/30/2019 – Entergy was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Entergy Corporation maintains a stable liquidity position backed by a strong cash generation capacity that enables it to make notable investment plans. Entergy plans to invest $11.87 billion in the 2019-2021 period. The company expects grid upgrades, asset replacement and industrial load growth to drive earnings.  Entergy is also seeking to diminish the risk and volatility in the EWC business by gradually reducing its EWC footprint and thus has planned to shut down its nuclear reactors under this business. Its shares also rose in the past twelve months, compared to its industry. However, Entergy is subject to economic risks associated with participation in the MISO markets and the allocation of transmission upgrade costs. Moreover, Entergy operates along the gulf coast of the U.S., a high-risk area that sees strong hurricane activity. This exposes the company's utility plants to damage and expenditure associated with storm-related restoration.”
  • 4/24/2019 – Entergy was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $106.00 price target on the stock. According to Zacks, “Entergy Corporation maintains a stable liquidity position backed by a strong cash generation capacity that enables it to make notable investment plans. Entergy plans to invest $11.87 billion in the 2019-2021 period. The company expects grid upgrades, asset replacement and industrial load growth to drive earnings.  Entergy is also seeking to diminish the risk and volatility in the EWC business by gradually reducing its EWC footprint and thus has planned to shut down its nuclear reactors under this business. Its shares also rose in the past twelve months, compared to its industry. However, Entergy is subject to economic risks associated with participation in the MISO markets and the allocation of transmission upgrade costs. Moreover, Entergy operates along the gulf coast of the U.S., a high-risk area that sees strong hurricane activity. This exposes the company's utility plants to damage and expenditure associated with storm-related restoration.”
  • 4/18/2019 – Entergy was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating.
  • 4/1/2019 – Entergy was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.

ETR traded up $0.91 during trading on Friday, hitting $97.82. 47,833 shares of the company traded hands, compared to its average volume of 1,280,455. The stock has a market capitalization of $18.25 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 2.60 and a beta of 0.40. Entergy Co. has a 1 year low of $75.45 and a 1 year high of $97.62. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.52 and a current ratio of 0.70.

Entergy (NYSE:ETR) last posted its earnings results on Wednesday, May 1st. The utilities provider reported $0.82 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.12). The company had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Entergy had a net margin of 9.04% and a return on equity of 15.17%. During the same period in the previous year, the business posted $0.83 earnings per share. On average, equities research analysts forecast that Entergy Co. will post 5.28 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Thursday, May 9th will be paid a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $3.64 annualized dividend and a yield of 3.72%. Entergy’s payout ratio is 49.79%.

In related news, Chairman Leo P. Denault sold 44,279 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $97.50, for a total transaction of $4,317,202.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Paul D. Hinnenkamp sold 6,600 shares of the firm’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $92.37, for a total transaction of $609,642.00. Following the transaction, the chief operating officer now directly owns 38,848 shares of the company’s stock, valued at $3,588,389.76. The disclosure for this sale can be found here. Insiders have sold 98,383 shares of company stock valued at $9,419,438 over the last ninety days. 0.27% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the business. FMR LLC grew its stake in shares of Entergy by 30.2% in the 4th quarter. FMR LLC now owns 3,335,411 shares of the utilities provider’s stock worth $287,079,000 after buying an additional 773,770 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of Entergy by 3.0% in the 1st quarter. State of Alaska Department of Revenue now owns 105,762 shares of the utilities provider’s stock worth $10,112,000 after buying an additional 3,045 shares in the last quarter. DNB Asset Management AS grew its stake in shares of Entergy by 4.0% in the 4th quarter. DNB Asset Management AS now owns 28,093 shares of the utilities provider’s stock worth $2,418,000 after buying an additional 1,090 shares in the last quarter. Investec Asset Management North America Inc. grew its stake in shares of Entergy by 106.0% in the 1st quarter. Investec Asset Management North America Inc. now owns 14,126 shares of the utilities provider’s stock worth $1,351,000 after buying an additional 7,270 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its stake in shares of Entergy by 22.2% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 132,800 shares of the utilities provider’s stock worth $11,430,000 after buying an additional 24,100 shares in the last quarter. 89.77% of the stock is owned by institutional investors and hedge funds.

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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