Scotiabank Cuts Entergy (NYSE:ETR) Price Target to $104.00

Entergy (NYSE:ETR) had its price objective cut by Scotiabank from $111.00 to $104.00 in a research report released on Monday morning, Benzinga reports. They currently have a sector perform rating on the utilities provider’s stock.

Several other brokerages also recently issued reports on ETR. BMO Capital Markets upped their price target on shares of Entergy from $110.00 to $113.00 and gave the stock an outperform rating in a report on Monday, February 26th. Barclays lowered their price target on shares of Entergy from $108.00 to $107.00 and set an equal weight rating for the company in a report on Monday, April 15th. Royal Bank of Canada reiterated an outperform rating and set a $117.00 price target on shares of Entergy in a report on Monday, February 26th. Finally, KeyCorp upped their price target on shares of Entergy from $108.00 to $112.00 and gave the stock an overweight rating in a report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Entergy presently has an average rating of Moderate Buy and a consensus target price of $109.45.

Entergy Stock Down 0.7 %

Shares of ETR opened at $106.46 on Monday. Entergy has a one year low of $87.10 and a one year high of $109.53. The company has a market cap of $22.70 billion, a P/E ratio of 9.60, a P/E/G ratio of 2.12 and a beta of 0.71. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.57 and a quick ratio of 0.32. The firm has a 50 day simple moving average of $103.13 and a two-hundred day simple moving average of $100.53.

Entergy (NYSE:ETR) last announced its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.27). The company had revenue of $31.17 billion for the quarter, compared to analyst estimates of $3.16 billion. Entergy had a return on equity of 10.54% and a net margin of 19.41%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter last year, the company posted $1.14 earnings per share. Research analysts forecast that Entergy will post 7.22 EPS for the current fiscal year.

Entergy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Thursday, May 2nd will be given a dividend of $1.13 per share. The ex-dividend date is Wednesday, May 1st. This represents a $4.52 dividend on an annualized basis and a yield of 4.25%. Entergy’s dividend payout ratio (DPR) is currently 40.76%.

Insider Buying and Selling at Entergy

In other Entergy news, insider Deanna D. Rodriguez sold 1,500 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $101.23, for a total transaction of $151,845.00. Following the sale, the insider now owns 3,442 shares of the company’s stock, valued at $348,433.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Entergy news, insider Deanna D. Rodriguez sold 1,500 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $101.23, for a total transaction of $151,845.00. Following the sale, the insider now owns 3,442 shares of the company’s stock, valued at $348,433.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Marcus V. Brown sold 8,500 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $102.84, for a total transaction of $874,140.00. Following the sale, the executive vice president now directly owns 9,911 shares in the company, valued at approximately $1,019,247.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,000 shares of company stock valued at $1,226,685. 0.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Entergy

Institutional investors and hedge funds have recently made changes to their positions in the business. Wealth Alliance increased its stake in Entergy by 1.2% in the 4th quarter. Wealth Alliance now owns 8,201 shares of the utilities provider’s stock valued at $830,000 after buying an additional 101 shares during the last quarter. Marino Stram & Associates LLC increased its stake in shares of Entergy by 1.7% during the 1st quarter. Marino Stram & Associates LLC now owns 5,879 shares of the utilities provider’s stock worth $621,000 after purchasing an additional 101 shares during the last quarter. Prossimo Advisors LLC increased its stake in shares of Entergy by 2.5% during the 4th quarter. Prossimo Advisors LLC now owns 4,512 shares of the utilities provider’s stock worth $457,000 after purchasing an additional 110 shares during the last quarter. Newbridge Financial Services Group Inc. increased its stake in shares of Entergy by 40.0% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 385 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 110 shares during the last quarter. Finally, Brown Advisory Inc. increased its stake in shares of Entergy by 5.1% during the 3rd quarter. Brown Advisory Inc. now owns 2,353 shares of the utilities provider’s stock worth $218,000 after purchasing an additional 115 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

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.