Entergy Corporation (NYSE:ETR) Stock Rated “Moderate Buy” by Wall Street Brokerages

Shares of Entergy Corporation (NYSE:ETR) have earned a consensus rating of “Moderate Buy” from the twenty-two ratings firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and twenty have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $121.25.

Several equities analysts have commented on ETR shares. Truist Financial set a $119.00 price objective on shares of Entergy and gave the company a “buy” rating in a research report on Monday, October 12th. Scotiabank decreased their price target on Entergy from $129.00 to $121.00 and set an “outperform” rating on the stock in a report on Wednesday, September 30th. HSBC assumed coverage on shares of Entergy in a research note on Thursday, October 22nd. They issued a “buy” rating and a $123.50 price objective for the company. BMO Capital Markets dropped their price objective on Entergy from $124.00 to $123.00 and set an “outperform” rating for the company in a report on Thursday, July 30th. Finally, BTIG Research reduced their price target on shares of Entergy from $126.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, October 20th.

Insider Activity

In other Entergy news, insider Laura R. Landreaux sold 5,600 shares of Entergy stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $106.20, for a total value of $594,720.00. Following the transaction, the insider owned 22,589 shares in the company, valued at $2,398,951.80. The trade was a 19.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ralph Lewis Ropp bought 1,000 shares of the stock in a transaction on Thursday, August 6th. The stock was purchased at an average price of $106.08 per share, with a total value of $106,080.00. Following the completion of the purchase, the director owned 3,423 shares of the company’s stock, valued at $363,111.84. This represents a 41.27% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.21% of the stock is owned by corporate insiders.

Institutional Trading of Entergy

Several institutional investors and hedge funds have recently bought and sold shares of ETR. Pinnacle Wealth Management Advisory Group LLC increased its holdings in shares of Entergy by 3.6% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,623 shares of the utilities provider’s stock valued at $295,000 after purchasing an additional 90 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in Entergy by 9.2% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,096 shares of the utilities provider’s stock valued at $126,000 after acquiring an additional 92 shares during the period. Founders Financial Securities LLC increased its holdings in Entergy by 2.5% in the 1st quarter. Founders Financial Securities LLC now owns 4,094 shares of the utilities provider’s stock worth $481,000 after acquiring an additional 101 shares in the last quarter. Rehmann Capital Advisory Group lifted its holdings in Entergy by 2.8% during the fourth quarter. Rehmann Capital Advisory Group now owns 3,807 shares of the utilities provider’s stock valued at $352,000 after purchasing an additional 102 shares in the last quarter. Finally, Cohen Investment Advisors LLC grew its position in shares of Entergy by 1.9% in the first quarter. Cohen Investment Advisors LLC now owns 5,664 shares of the utilities provider’s stock valued at $636,000 after purchasing an additional 103 shares during the period. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Entergy Stock Up 0.8%

NYSE ETR opened at $108.41 on Wednesday. Entergy has a twelve month low of $90.87 and a twelve month high of $118.44. The business has a 50-day moving average price of $104.28 and a 200-day moving average price of $107.06.

Entergy (NYSE:ETR) last issued its earnings results on Wednesday, July 29th. The utilities provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.02. The company had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.49 billion. During the same quarter in the prior year, the company posted $1.05 EPS. Sell-side analysts forecast that Entergy will post 4.40 EPS for the current year.

Entergy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Thursday, August 13th were given a dividend of $0.64 per share. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.4%.

Entergy Company Profile

Entergy Corporation is an integrated energy company that operates as a regulated electric utility. Through its operating companies, the company generates, transmits and distributes electricity to residential, commercial, industrial and governmental customers. Its generation portfolio includes nuclear, natural gas, renewable and other power resources, while its transmission and distribution networks deliver electricity across its service territories.

Entergy serves customers in Arkansas, Louisiana, Mississippi and Texas, including the New Orleans area through Entergy New Orleans.