Entergy (ETR) Given New $93.00 Price Target at Bank of America

Entergy (NYSE:ETR) had its price objective upped by equities research analysts at Bank of America from $91.00 to $93.00 in a report issued on Thursday. The brokerage currently has a “buy” rating on the utilities provider’s stock. Bank of America’s price objective would suggest a potential upside of 11.34% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Citigroup raised their price target on Entergy from $88.00 to $89.00 and gave the company a “buy” rating in a research report on Wednesday, October 17th. UBS Group upgraded Entergy from a “neutral” rating to a “buy” rating and raised their price target for the company from $85.00 to $92.00 in a research report on Friday, August 3rd. Goldman Sachs Group upgraded Entergy from a “neutral” rating to a “buy” rating and raised their price target for the company from $87.00 to $88.00 in a research report on Thursday, July 19th. Morgan Stanley raised their price target on Entergy from $80.00 to $83.00 and gave the company an “equal weight” rating in a research report on Monday, July 16th. Finally, 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. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Entergy has a consensus rating of “Buy” and a consensus price target of $89.04.

Shares of ETR stock traded down $0.42 during mid-day trading on Thursday, reaching $83.53. The stock had a trading volume of 3,788 shares, compared to its average volume of 1,572,454. Entergy has a 12-month low of $71.95 and a 12-month high of $87.95. The stock has a market cap of $15.00 billion, a P/E ratio of 11.61, a P/E/G ratio of 1.79 and a beta of 0.49. The company has a quick ratio of 0.42, a current ratio of 0.57 and a debt-to-equity ratio of 1.85.

Entergy (NYSE:ETR) last announced its quarterly earnings results on Wednesday, October 31st. The utilities provider reported $3.77 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.94. Entergy had a return on equity of 13.45% and a net margin of 2.73%. The business had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $2.85 billion. During the same quarter last year, the business posted $2.35 earnings per share. On average, sell-side analysts anticipate that Entergy will post 6.64 earnings per share for the current year.

In other Entergy news, EVP Donald W. Vinci sold 5,200 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $85.00, for a total value of $442,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Paul D. Hinnenkamp sold 13,500 shares of the firm’s stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $83.67, for a total value of $1,129,545.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,377 shares of company stock worth $3,141,926. Corporate insiders own 0.24% of the company’s stock.

Large investors have recently modified their holdings of the business. Arizona State Retirement System raised its holdings in shares of Entergy by 2.6% during the 3rd quarter. Arizona State Retirement System now owns 142,089 shares of the utilities provider’s stock valued at $11,528,000 after buying an additional 3,591 shares during the period. Alethea Capital Management LLC purchased a new stake in shares of Entergy during the 3rd quarter valued at about $1,143,000. QUANTRES ASSET MANAGEMENT Ltd purchased a new stake in shares of Entergy during the 3rd quarter valued at about $430,000. Sawtooth Solutions LLC raised its holdings in shares of Entergy by 16.6% during the 3rd quarter. Sawtooth Solutions LLC now owns 13,364 shares of the utilities provider’s stock valued at $1,085,000 after buying an additional 1,898 shares during the period. Finally, DT Investment Partners LLC raised its holdings in shares of Entergy by 9.8% during the 3rd quarter. DT Investment Partners LLC now owns 38,979 shares of the utilities provider’s stock valued at $3,162,000 after buying an additional 3,485 shares during the period. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

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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