Entergy (NYSE:ETR) Price Target Raised to $97.00 at Wells Fargo & Company

Entergy (NYSE:ETR) had its target price boosted by Wells Fargo & Company from $85.00 to $97.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 13.03% from the stock’s current price.

A number of other analysts have also recently issued reports on the stock. BMO Capital Markets reduced their target price on shares of Entergy from $83.00 to $79.50 and set an “outperform” rating for the company in a research note on Monday, November 18th. Scotiabank reduced their target price on shares of Entergy from $165.00 to $82.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 7th. Guggenheim lifted their target price on shares of Entergy from $72.50 to $82.50 and gave the company a “buy” rating in a research note on Friday, November 1st. Morgan Stanley upgraded shares of Entergy from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $58.00 to $75.00 in a research note on Monday, November 4th. Finally, Bank of America cut shares of Entergy from a “buy” rating to a “neutral” rating and lifted their target price for the company from $69.00 to $77.00 in a research note on Monday, November 4th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Entergy has an average rating of “Moderate Buy” and a consensus price target of $82.14.

Entergy Stock Performance

ETR stock opened at $85.82 on Wednesday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.59 and a current ratio of 0.89. The stock has a market cap of $36.80 billion, a P/E ratio of 35.24, a P/E/G ratio of 2.67 and a beta of 0.72. The firm has a 50 day simple moving average of $79.01 and a 200 day simple moving average of $71.19. Entergy has a 52 week low of $49.80 and a 52 week high of $88.38.

Entergy (NYSE:ETR) last posted its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.63 by $0.03. The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $3.24 billion. Entergy had a net margin of 8.90% and a return on equity of 10.75%. During the same period last year, the company posted $0.26 earnings per share. Research analysts anticipate that Entergy will post 3.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Deanna D. Rodriguez sold 6,088 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $73.94, for a total transaction of $450,146.72. Following the transaction, the insider now owns 3,952 shares of the company’s stock, valued at approximately $292,210.88. The trade was a 60.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.39% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Entergy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Entergy by 101.9% during the fourth quarter. Vanguard Group Inc. now owns 52,133,646 shares of the utilities provider’s stock worth $3,952,773,000 after acquiring an additional 26,312,267 shares during the period. Bank of America Corp DE increased its holdings in Entergy by 142.8% in the 4th quarter. Bank of America Corp DE now owns 17,594,747 shares of the utilities provider’s stock valued at $1,334,034,000 after buying an additional 10,347,926 shares during the period. Ameriprise Financial Inc. increased its holdings in Entergy by 71.4% in the 4th quarter. Ameriprise Financial Inc. now owns 12,884,421 shares of the utilities provider’s stock valued at $976,895,000 after buying an additional 5,368,396 shares during the period. FMR LLC increased its holdings in Entergy by 90.7% in the 4th quarter. FMR LLC now owns 12,612,407 shares of the utilities provider’s stock valued at $956,273,000 after buying an additional 5,998,760 shares during the period. Finally, State Street Corp increased its holdings in Entergy by 1.1% in the 3rd quarter. State Street Corp now owns 11,408,776 shares of the utilities provider’s stock valued at $1,501,509,000 after buying an additional 128,667 shares during the period. Institutional investors 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.