Entergy (NYSE:ETR) Stock Price Expected to Rise, Bank of America Analyst Says

Entergy (NYSE:ETR) had its price objective upped by research analysts at Bank of America from $88.00 to $97.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the utilities provider’s stock. Bank of America‘s price target suggests a potential upside of 1.25% from the company’s previous close.

Other research analysts have also issued research reports about the company. Evercore ISI set a $98.00 price target on Entergy and gave the stock an “in-line” rating in a research report on Monday, October 6th. Mizuho set a $97.00 price target on Entergy and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Jefferies Financial Group began coverage on Entergy in a research report on Thursday, September 4th. They set a “buy” rating and a $109.00 price target on the stock. BMO Capital Markets reaffirmed an “outperform” rating and set a $104.00 price target (up previously from $96.00) on shares of Entergy in a research report on Tuesday. Finally, JPMorgan Chase & Co. boosted their price target on Entergy from $102.00 to $103.00 and gave the stock an “overweight” rating in a research report on Thursday, August 21st. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $97.57.

Entergy Stock Down 0.2%

Shares of Entergy stock opened at $95.80 on Thursday. The business’s 50 day simple moving average is $91.02 and its 200 day simple moving average is $86.10. Entergy has a 52-week low of $66.75 and a 52-week high of $98.58. The firm has a market cap of $42.77 billion, a PE ratio of 23.86, a P/E/G ratio of 2.61 and a beta of 0.62. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.80.

Entergy (NYSE:ETR) last announced its earnings results on Friday, July 8th. The utilities provider reported $0.71 earnings per share (EPS) for the quarter. Entergy had a return on equity of 11.52% and a net margin of 14.35%.The business had revenue of $2.37 billion for the quarter. On average, analysts predict that Entergy will post 3.88 earnings per share for the current fiscal year.

Insider Transactions at Entergy

In related news, insider Haley Fisackerly sold 4,463 shares of the business’s stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $90.50, for a total value of $403,901.50. Following the completion of the sale, the insider directly owned 3,318 shares in the company, valued at $300,279. The trade was a 57.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.39% of the stock is owned by company insiders.

Institutional Trading of Entergy

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Entergy by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 56,459,668 shares of the utilities provider’s stock worth $4,692,928,000 after buying an additional 1,630,674 shares in the last quarter. State Street Corp raised its holdings in shares of Entergy by 4.5% during the 2nd quarter. State Street Corp now owns 22,920,881 shares of the utilities provider’s stock worth $1,905,184,000 after buying an additional 981,750 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Entergy by 3.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,652,982 shares of the utilities provider’s stock worth $1,134,850,000 after buying an additional 479,093 shares in the last quarter. Geode Capital Management LLC increased its holdings in Entergy by 4.7% in the 2nd quarter. Geode Capital Management LLC now owns 11,242,611 shares of the utilities provider’s stock worth $930,541,000 after purchasing an additional 505,344 shares in the last quarter. Finally, Boston Partners increased its holdings in Entergy by 114.9% in the 2nd quarter. Boston Partners now owns 6,940,628 shares of the utilities provider’s stock worth $578,531,000 after purchasing an additional 3,710,814 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors.

Entergy Company Profile

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.