Today: Entergy Corp.’s (ETR) “Buy” Rating Reaffirmed at Goldman Sachs Group Inc.

Today: Entergy Corp.’s (ETR) “Buy” Rating Reaffirmed at Goldman Sachs Group Inc.

Goldman Sachs Group Inc. reissued their buy rating on shares of Entergy Corp. (NYSE:ETR) in a research report released on Sunday morning. The brokerage currently has a $85.00 price target on the stock.

Several other equities research analysts have also recently issued reports on ETR. Deutsche Bank AG decreased their target price on shares of Entergy Corp. from $83.00 to $82.00 and set a hold rating on the stock in a research report on Wednesday, August 3rd. Citigroup Inc. raised their target price on shares of Entergy Corp. from $72.00 to $83.00 and gave the stock a neutral rating in a research report on Wednesday, July 20th. Zacks Investment Research raised shares of Entergy Corp. from a hold rating to a buy rating and set a $84.00 target price on the stock in a research report on Friday. Finally, Guggenheim raised shares of Entergy Corp. from a neutral rating to a buy rating and set a $86.00 target price on the stock in a research report on Monday, August 22nd. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $81.78.

Shares of Entergy Corp. (NYSE:ETR) traded down 0.96% during midday trading on Friday, hitting $74.16. 1,118,736 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $77.46 and its 200-day moving average is $77.89. The stock has a market cap of $13.27 billion, a PE ratio of 76.61 and a beta of 0.38. Entergy Corp. has a 1-year low of $64.11 and a 1-year high of $82.09.

Entergy Corp. (NYSE:ETR) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $3.11 EPS for the quarter, topping analysts’ consensus estimates 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 prior year, the firm earned $0.83 earnings per share. Analysts predict that Entergy Corp. will post $6.72 earnings per share for the current fiscal year.

In related news, insider Charles L. Rice, Jr. sold 760 shares of Entergy Corp. stock in a transaction on Friday, August 26th. The shares were sold at an average price of $79.36, for a total value of $60,313.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Haley Fisackerly sold 1,250 shares of Entergy Corp. stock in a transaction on Friday, August 19th. The stock was sold at an average price of $77.60, for a total transaction of $97,000.00. The disclosure for this sale can be found here. Insiders own 0.22% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Entergy Corp. by 8.2% in the second quarter. Vanguard Group Inc. now owns 15,896,131 shares of the company’s stock worth $1,293,150,000 after buying an additional 1,198,356 shares during the period. State Street Corp raised its stake in shares of Entergy Corp. by 4.8% in the first quarter. State Street Corp now owns 9,645,391 shares of the company’s stock worth $764,688,000 after buying an additional 440,615 shares during the period. BlackRock Fund Advisors raised its stake in shares of Entergy Corp. by 5.9% in the second quarter. BlackRock Fund Advisors now owns 6,851,404 shares of the company’s stock worth $557,362,000 after buying an additional 380,791 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Entergy Corp. by 19.8% in the second quarter. Ameriprise Financial Inc. now owns 4,101,004 shares of the company’s stock worth $333,617,000 after buying an additional 676,851 shares during the period. Finally, Allianz Asset Management AG raised its stake in shares of Entergy Corp. by 246.9% in the second quarter. Allianz Asset Management AG now owns 3,548,491 shares of the company’s stock worth $288,669,000 after buying an additional 2,525,637 shares during the period. Institutional investors and hedge funds own 85.22% of the company’s stock.

About Entergy Corp.

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