KeyCorp Raises Entergy (NYSE:ETR) Price Target to $143.00

Entergy (NYSE:ETR) had its price objective increased by KeyCorp from $140.00 to $143.00 in a report published on Tuesday morning, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

Other equities analysts have also recently issued reports about the company. Scotiabank boosted their target price on Entergy from $115.00 to $119.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Guggenheim boosted their target price on Entergy from $118.00 to $128.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Wells Fargo & Company lifted their price target on Entergy from $125.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Bank of America lifted their price target on Entergy from $135.00 to $138.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. lifted their price target on Entergy from $131.00 to $141.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $131.19.

Entergy Price Performance

Shares of Entergy stock opened at $135.38 on Tuesday. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.62. Entergy has a one year low of $90.78 and a one year high of $138.24. The stock has a market capitalization of $28.95 billion, a P/E ratio of 16.19, a price-to-earnings-growth ratio of 2.55 and a beta of 0.74. The business’s 50 day simple moving average is $127.15 and its two-hundred day simple moving average is $115.63.

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

Entergy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 13th will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.55%. This is an increase from Entergy’s previous quarterly dividend of $1.13. Entergy’s payout ratio is 54.07%.

Insiders Place Their Bets

In other Entergy news, COO Peter S. Norgeot, Jr. sold 7,922 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $130.00, for a total value of $1,029,860.00. Following the sale, the chief operating officer now directly owns 34,993 shares of the company’s stock, valued at approximately $4,549,090. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, 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 directly owns 37,888 shares of the company’s stock, valued at $4,363,182.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Peter S. Norgeot, Jr. sold 7,922 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $130.00, for a total value of $1,029,860.00. Following the sale, the chief operating officer now directly owns 34,993 shares in the company, valued at $4,549,090. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,810 shares of company stock valued at $6,140,626. 0.39% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Entergy

Several institutional investors have recently modified their holdings of ETR. Ameriprise Financial Inc. boosted its position in shares of Entergy by 47.1% during the second quarter. Ameriprise Financial Inc. now owns 6,479,044 shares of the utilities provider’s stock valued at $693,260,000 after buying an additional 2,075,776 shares during the last quarter. Capital International Investors boosted its position in shares of Entergy by 64.2% during the first quarter. Capital International Investors now owns 4,170,045 shares of the utilities provider’s stock valued at $440,690,000 after buying an additional 1,630,057 shares during the last quarter. Millennium Management LLC boosted its position in shares of Entergy by 185.5% during the second quarter. Millennium Management LLC now owns 1,876,672 shares of the utilities provider’s stock valued at $200,804,000 after buying an additional 1,219,419 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Entergy by 12.4% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,926,492 shares of the utilities provider’s stock valued at $741,135,000 after buying an additional 763,834 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its position in shares of Entergy by 89.2% during the second quarter. Panagora Asset Management Inc. now owns 1,073,603 shares of the utilities provider’s stock valued at $114,876,000 after buying an additional 506,239 shares during the last quarter. 88.07% of the stock is owned by hedge funds and other 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.