Entergy Corp. (NYSE:ETR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The firm presently has a $84.00 target price on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 12.18% from the company’s previous close.
According to Zacks, “Entergy is gradually shifting from being a hybrid to a pure-play utility. It is looking for opportunities in its core utility business, which operates in parts of Arkansas, Louisiana, Mississippi and Texas. Entergy expects earnings from its utility, parent and other segment to rise roughly 5% to 7% a year through 2020. Its disciplined investments in its generation and distribution businesses as well as sturdy expansion of transmission lines are expected to boost its financials, while strengthening reliability services for its customers. Further, to diminish the risk and volatility in the EWC business, the company is gradually reducing its EWC footprint; which may become less than 5% in 2018. However, dependence on regulatory authorities for rate relief and price fluctuations in wholesale power markets could be a growth deterrent. Any adverse decision in pending regulatory cases can also materially impact Entergy's earnings.”
Several other research analysts have also recently commented on ETR. Citigroup Inc. boosted their price target on shares of Entergy Corp. from $72.00 to $83.00 and gave the stock a “neutral” rating in a report on Wednesday, July 20th. Deutsche Bank AG lowered their target price on shares of Entergy Corp. from $83.00 to $82.00 and set a “hold” rating for the company in a report on Wednesday, August 3rd. Finally, Guggenheim upgraded shares of Entergy Corp. from a “neutral” rating to a “buy” rating and set a $86.00 target price for the company in a report on Monday, August 22nd. Nine analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $80.65.
Entergy Corp. (NYSE:ETR) traded down 0.45% during mid-day trading on Friday, reaching $74.54. 561,517 shares of the company traded hands. The stock’s 50 day moving average price is $77.61 and its 200 day moving average price is $77.92. Entergy Corp. has a 52 week low of $64.11 and a 52 week high of $82.09. The firm has a market capitalization of $13.34 billion, a price-to-earnings ratio of 77.00 and a beta of 0.38.
Entergy Corp. (NYSE:ETR) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $3.11 EPS for the quarter, topping the consensus estimate of $1.05 by $2.06. Entergy Corp. had a net margin of 1.78% and a return on equity of 15.34%. During the same quarter in the previous year, the firm posted $0.83 earnings per share. Equities analysts forecast that Entergy Corp. will post $6.72 EPS for the current year.
In other Entergy Corp. news, insider Haley Fisackerly sold 1,250 shares of the company’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $77.60, for a total transaction of $97,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charles L. Rice, Jr. sold 760 shares of the company’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $79.36, for a total transaction of $60,313.60. The disclosure for this sale can be found here. Company insiders own 0.22% of the company’s stock.
A number of institutional investors have recently made changes to their positions in ETR. Hancock Holding Co. increased its position in shares of Entergy Corp. by 35.0% in the first quarter. Hancock Holding Co. now owns 61,080 shares of the company’s stock worth $4,842,000 after buying an additional 15,851 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Entergy Corp. by 4.3% in the first quarter. Wellington Management Group LLP now owns 110,946 shares of the company’s stock worth $8,796,000 after buying an additional 4,569 shares in the last quarter. Simmons Bank bought a new position in shares of Entergy Corp. during the first quarter worth about $1,440,000. Geode Capital Management LLC increased its position in shares of Entergy Corp. by 1.6% in the first quarter. Geode Capital Management LLC now owns 1,668,003 shares of the company’s stock worth $132,007,000 after buying an additional 26,197 shares in the last quarter. Finally, AXA bought a new position in shares of Entergy Corp. during the first quarter worth about $279,000. Institutional investors own 85.22% of the company’s stock.
About Entergy Corp.
Entergy Corporation is a holding company. The Company is an integrated energy company engaged in electric power production and retail electric distribution operations. It 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.