Entergy (NYSE:ETR) Price Target Cut to $117.00

Entergy (NYSE:ETR) had its price objective dropped by equities researchers at BMO Capital Markets from $120.00 to $117.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the utilities provider’s stock. BMO Capital Markets’ price target would indicate a potential upside of 11.48% from the stock’s previous close.

ETR has been the subject of several other reports. Mizuho raised their price objective on shares of Entergy from $107.00 to $114.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Wells Fargo & Company increased their target price on Entergy from $122.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, June 5th. KeyCorp upped their price target on Entergy from $112.00 to $123.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. LADENBURG THALM/SH SH reaffirmed a “neutral” rating and issued a $109.50 price objective (down previously from $117.00) on shares of Entergy in a report on Wednesday, June 12th. Finally, Scotiabank reduced their price target on shares of Entergy from $111.00 to $104.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $113.50.

Entergy Price Performance

Entergy stock opened at $104.95 on Monday. Entergy has a 1 year low of $87.10 and a 1 year high of $114.28. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.45 and a current ratio of 0.69. The firm has a 50 day moving average price of $108.67 and a 200 day moving average price of $104.52. The company has a market cap of $22.41 billion, a price-to-earnings ratio of 10.53, a PEG ratio of 1.99 and a beta of 0.71.

Entergy (NYSE:ETR) last issued its earnings results on Wednesday, April 24th. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.36). Entergy had a return on equity of 10.20% and a net margin of 17.75%. The firm had revenue of $31.17 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the previous year, the firm posted $1.14 EPS. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. Sell-side analysts predict that Entergy will post 7.22 earnings per share for the current year.

Insider Transactions at Entergy

In related news, CAO Reginald T. Jackson sold 9,229 shares of Entergy stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $108.71, for a total transaction of $1,003,284.59. Following the completion of the transaction, the chief accounting officer now directly owns 2,166 shares of the company’s stock, valued at approximately $235,465.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Entergy news, insider Haley Fisackerly sold 1,500 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $110.23, for a total value of $165,345.00. Following the transaction, the insider now directly owns 2,479 shares in the company, valued at approximately $273,260.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Reginald T. Jackson sold 9,229 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $108.71, for a total value of $1,003,284.59. Following the transaction, the chief accounting officer now directly owns 2,166 shares in the company, valued at approximately $235,465.86. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Entergy

Several institutional investors have recently modified their holdings of the stock. First Bank & Trust grew its position in shares of Entergy by 0.6% in the 2nd quarter. First Bank & Trust now owns 20,540 shares of the utilities provider’s stock valued at $2,198,000 after purchasing an additional 116 shares during the period. Lynx Investment Advisory bought a new stake in shares of Entergy in the second quarter valued at about $919,000. Trust Co. of Vermont grew its holdings in shares of Entergy by 204.1% during the second quarter. Trust Co. of Vermont now owns 745 shares of the utilities provider’s stock worth $80,000 after buying an additional 500 shares in the last quarter. Mather Group LLC. boosted its position in Entergy by 12.3% during the 2nd quarter. Mather Group LLC. now owns 5,038 shares of the utilities provider’s stock worth $532,000 after acquiring an additional 553 shares during the last quarter. Finally, Bank & Trust Co acquired a new stake in shares of Entergy in the second quarter valued at approximately $75,000. 88.07% of the stock is currently owned by institutional investors and hedge funds.

About Entergy

Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. It generates, transmits, distributes, and sells electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, including the City of New Orleans; and distributes natural gas.