Bank of America upgraded shares of Entergy (NYSE:ETR) from a neutral rating to a buy rating in a report released on Tuesday morning. They currently have $89.00 price target on the utilities provider’s stock.
Several other equities analysts have also recently issued reports on ETR. BidaskClub raised shares of Entergy from a hold rating to a buy rating in a research note on Saturday, August 26th. Morgan Stanley lifted their price objective on shares of Entergy from $82.00 to $84.00 and gave the stock an underweight rating in a research note on Friday, September 8th. J P Morgan Chase & Co lifted their price objective on shares of Entergy from $83.00 to $84.00 and gave the stock a neutral rating in a research note on Thursday, October 12th. Citigroup raised shares of Entergy from a neutral rating to a buy rating and set a $91.00 target price on the stock in a research report on Friday, October 13th. Finally, Jefferies Group raised shares of Entergy from a hold rating to a buy rating in a research report on Monday, October 16th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $82.67.
Shares of Entergy (ETR) traded down $1.32 on Tuesday, hitting $83.26. 1,540,900 shares of the stock traded hands, compared to its average volume of 1,211,765. The firm has a market cap of $15,245.66, a PE ratio of 12.51, a P/E/G ratio of 1.74 and a beta of 0.55. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.78 and a quick ratio of 0.58. Entergy has a 12 month low of $69.63 and a 12 month high of $87.95.
The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Thursday, November 9th were given a $0.89 dividend. This is an increase from Entergy’s previous quarterly dividend of $0.87. This represents a $3.56 annualized dividend and a dividend yield of 4.28%. The ex-dividend date was Wednesday, November 8th. Entergy’s dividend payout ratio (DPR) is -72.06%.
In related news, COO Paul D. Hinnenkamp sold 2,300 shares of the business’s stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $84.00, for a total transaction of $193,200.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Haley Fisackerly sold 4,800 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $87.00, for a total transaction of $417,600.00. Following the transaction, the insider now directly owns 5,276 shares in the company, valued at $459,012. The disclosure for this sale can be found here. Insiders have sold 57,812 shares of company stock worth $4,907,522 over the last ninety days. 0.24% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Advisory Services Network LLC grew its position in Entergy by 2.1% during the second quarter. Advisory Services Network LLC now owns 2,335 shares of the utilities provider’s stock valued at $179,000 after purchasing an additional 49 shares in the last quarter. Krilogy Financial LLC grew its position in Entergy by 1,116.0% during the third quarter. Krilogy Financial LLC now owns 2,432 shares of the utilities provider’s stock valued at $186,000 after purchasing an additional 2,232 shares in the last quarter. Parallel Advisors LLC grew its position in Entergy by 3.0% during the second quarter. Parallel Advisors LLC now owns 2,448 shares of the utilities provider’s stock valued at $188,000 after purchasing an additional 71 shares in the last quarter. BlueMountain Capital Management LLC purchased a new position in Entergy during the second quarter valued at approximately $204,000. Finally, Buckingham Asset Management LLC purchased a new position in Entergy during the third quarter valued at approximately $212,000. 82.95% of the stock is currently owned by hedge funds and other institutional investors.
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Entergy 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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