Scotiabank Has Lowered Expectations for Entergy (NYSE:ETR) Stock Price

Entergy (NYSE:ETR) had its price objective lowered by Scotiabank from $165.00 to $82.00 in a research report released on Tuesday,Benzinga reports. The firm currently has a sector perform rating on the utilities provider’s stock. Scotiabank also issued estimates for Entergy’s FY2024 earnings at $3.63 EPS and FY2025 earnings at $3.87 EPS.

Other research analysts have also recently issued research reports about the stock. BMO Capital Markets decreased their price objective on shares of Entergy from $83.00 to $79.50 and set an “outperform” rating for the company in a report on Monday, November 18th. Royal Bank of Canada upped their price objective on shares of Entergy from $68.50 to $70.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Barclays raised their price objective on Entergy from $68.50 to $76.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Bank of America cut Entergy from a “buy” rating to a “neutral” rating and boosted their target price for the company from $69.00 to $77.00 in a research note on Monday, November 4th. Finally, Guggenheim raised their price target on Entergy from $72.50 to $82.50 and gave the stock a “buy” rating in a research report on Friday, November 1st. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $77.37.

Entergy Stock Performance

Shares of Entergy stock opened at $76.69 on Tuesday. Entergy has a 52 week low of $48.08 and a 52 week high of $79.04. 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 capitalization of $32.89 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 2.48 and a beta of 0.71. The firm has a fifty day moving average of $75.24 and a two-hundred day moving average of $65.69.

Entergy (NYSE:ETR) last released its earnings results on Thursday, October 31st. The utilities provider reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.04. The firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.46 billion. Entergy had a return on equity of 9.53% and a net margin of 14.83%. During the same quarter in the prior year, the firm posted $1.64 earnings per share. As a group, equities research analysts predict that Entergy will post 3.61 EPS for the current year.

Entergy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Wednesday, November 13th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend was Wednesday, November 13th. Entergy’s dividend payout ratio (DPR) is currently 58.39%.

Insiders Place Their Bets

In related news, insider Deanna D. Rodriguez sold 6,088 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $73.94, for a total transaction of $450,146.72. Following the sale, the insider now owns 3,952 shares in the company, valued at approximately $292,210.88. This represents a 60.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Eliecer Viamontes sold 400 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $73.50, for a total value of $29,400.00. Following the completion of the transaction, the insider now owns 8,346 shares of the company’s stock, valued at approximately $613,431. This represents a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,756 shares of company stock valued at $1,095,637 in the last three months. 0.39% of the stock is currently owned by corporate insiders.

Institutional Trading of Entergy

A number of large investors have recently added to or reduced their stakes in ETR. OneDigital Investment Advisors LLC raised its holdings in shares of Entergy by 2.1% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 3,427 shares of the utilities provider’s stock valued at $451,000 after purchasing an additional 69 shares during the period. Acropolis Investment Management LLC raised its stake in Entergy by 0.8% in the third quarter. Acropolis Investment Management LLC now owns 8,836 shares of the utilities provider’s stock valued at $1,163,000 after buying an additional 69 shares during the period. Great Valley Advisor Group Inc. lifted its position in shares of Entergy by 0.9% in the third quarter. Great Valley Advisor Group Inc. now owns 8,087 shares of the utilities provider’s stock valued at $1,065,000 after buying an additional 74 shares during the last quarter. Bank & Trust Co boosted its stake in shares of Entergy by 12.8% during the 3rd quarter. Bank & Trust Co now owns 795 shares of the utilities provider’s stock worth $105,000 after acquiring an additional 90 shares during the period. Finally, Prossimo Advisors LLC increased its holdings in shares of Entergy by 1.5% during the 3rd quarter. Prossimo Advisors LLC now owns 5,971 shares of the utilities provider’s stock worth $786,000 after acquiring an additional 90 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

About Entergy

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.