Entergy (NYSE:ETR) Given New $130.00 Price Target at KeyCorp

Entergy (NYSE:ETR) had its price objective upped by KeyCorp from $123.00 to $130.00 in a report published on Monday morning, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

ETR has been the topic of several other reports. Morgan Stanley upped their target price on shares of Entergy from $100.00 to $109.00 and gave the stock an underweight rating in a research note on Friday, August 23rd. Scotiabank upped their target price on shares of Entergy from $115.00 to $119.00 and gave the stock a sector perform rating in a research note on Tuesday, August 20th. LADENBURG THALM/SH SH reissued a neutral rating and issued a $109.50 price objective (down from $117.00) on shares of Entergy in a research report on Wednesday, June 12th. Mizuho increased their price objective on shares of Entergy from $107.00 to $114.00 and gave the company a buy rating in a research report on Friday, May 31st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Entergy from $131.00 to $141.00 and gave the company an overweight rating in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $123.58.

Entergy Price Performance

Entergy stock opened at $128.46 on Monday. Entergy has a 1 year low of $87.10 and a 1 year high of $128.92. The company’s 50 day simple moving average is $116.80 and its 200-day simple moving average is $110.17. The company has a market capitalization of $27.47 billion, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 2.31 and a beta of 0.73. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.62 and a current ratio of 0.94.

Entergy (NYSE:ETR) last announced its earnings results on Thursday, August 1st. The utilities provider reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.16. Entergy had a net margin of 14.75% and a return on equity of 10.10%. The firm had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the prior year, the firm earned $1.84 EPS. As a group, equities research analysts expect that Entergy will post 7.22 earnings per share for the current year.

Entergy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 13th were issued a $1.13 dividend. This represents a $4.52 annualized dividend and a dividend yield of 3.52%. The ex-dividend date was Tuesday, August 13th. Entergy’s payout ratio is 45.34%.

Insider Activity

In other news, COO Peter S. Norgeot, Jr. sold 11,472 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $115.16, for a total value of $1,321,115.52. Following the completion of the transaction, the chief operating officer now owns 37,888 shares in the company, valued at approximately $4,363,182.08. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Andrew S. Marsh sold 600 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $120.03, for a total transaction of $72,018.00. Following the completion of the sale, the chief executive officer now owns 150,731 shares in the company, valued at approximately $18,092,241.93. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Peter S. Norgeot, Jr. sold 11,472 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.16, for a total transaction of $1,321,115.52. Following the sale, the chief operating officer now owns 37,888 shares of the company’s stock, valued at approximately $4,363,182.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,888 shares of company stock worth $5,110,766. Corporate insiders own 0.39% of the company’s stock.

Institutional Trading of Entergy

A number of large investors have recently bought and sold shares of ETR. HBK Sorce Advisory LLC raised its position in Entergy by 2.3% during the 2nd quarter. HBK Sorce Advisory LLC now owns 4,075 shares of the utilities provider’s stock worth $436,000 after buying an additional 92 shares during the last quarter. Quent Capital LLC raised its position in Entergy by 21.7% during the 1st quarter. Quent Capital LLC now owns 550 shares of the utilities provider’s stock worth $58,000 after buying an additional 98 shares during the last quarter. Delta Financial Advisors LLC raised its position in Entergy by 0.5% during the 2nd quarter. Delta Financial Advisors LLC now owns 22,121 shares of the utilities provider’s stock worth $2,367,000 after buying an additional 105 shares during the last quarter. Newbridge Financial Services Group Inc. raised its position in 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 buying an additional 110 shares during the last quarter. Finally, iA Global Asset Management Inc. raised its position in Entergy by 1.3% during the 1st quarter. iA Global Asset Management Inc. now owns 8,830 shares of the utilities provider’s stock worth $933,000 after buying an additional 114 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.