BMO Capital Markets Cuts Entergy (NYSE:ETR) Price Target to $159.00

Entergy (NYSE:ETR) had its target price trimmed by BMO Capital Markets from $166.00 to $159.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the utilities provider’s stock.

Other analysts also recently issued reports about the stock. Wells Fargo & Company upped their price objective on shares of Entergy from $137.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Mizuho upped their price target on shares of Entergy from $138.00 to $165.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Argus upgraded Entergy to a “strong-buy” rating in a research note on Wednesday, August 28th. Scotiabank upped their target price on Entergy from $119.00 to $144.00 and gave the stock a “sector perform” rating in a research note on Friday, November 1st. Finally, Bank of America cut Entergy from a “buy” rating to a “neutral” rating and lifted their price target for the company from $138.00 to $154.00 in a research report on Monday, November 4th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Entergy has an average rating of “Moderate Buy” and an average target price of $150.42.

Entergy Stock Up 0.8 %

Entergy stock opened at $151.93 on Monday. Entergy has a twelve month low of $96.15 and a twelve month high of $156.85. The business has a fifty day moving average of $137.26 and a two-hundred day moving average of $121.21. The firm has a market cap of $32.57 billion, a P/E ratio of 18.50, a P/E/G ratio of 2.50 and a beta of 0.71. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 1.77.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $2.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.91 by $0.08. Entergy had a return on equity of 9.53% and a net margin of 14.83%. The business had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same period in the prior year, the firm posted $3.27 earnings per share. On average, analysts forecast that Entergy will post 7.21 earnings per share for the current fiscal year.

Entergy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 13th will be paid a $1.20 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This is a positive change from Entergy’s previous quarterly dividend of $1.13. This represents a $4.80 dividend on an annualized basis and a yield of 3.16%. Entergy’s dividend payout ratio (DPR) is currently 58.47%.

Insiders Place Their Bets

In related news, insider Eliecer Viamontes sold 5,166 shares of Entergy stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $120.00, for a total transaction of $619,920.00. Following the transaction, the insider now owns 5,117 shares in the company, valued at approximately $614,040. This trade represents a 50.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Andrew S. Marsh sold 19,200 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $120.35, for a total value of $2,310,720.00. Following the completion of the sale, the chief executive officer now owns 150,731 shares of the company’s stock, valued at approximately $18,140,475.85. The trade was a 11.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 40,472 shares of company stock worth $5,076,328. Corporate insiders own 0.39% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ETR. Legacy Investment Solutions LLC purchased a new position in Entergy during the third quarter worth about $27,000. Fortitude Family Office LLC raised its position in shares of Entergy by 423.8% during the 3rd quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock valued at $29,000 after buying an additional 178 shares during the period. Cetera Trust Company N.A acquired a new position in Entergy in the third quarter valued at approximately $29,000. Iron Horse Wealth Management LLC purchased a new position in Entergy in the second quarter worth approximately $25,000. Finally, Coastline Trust Co acquired a new stake in Entergy during the third quarter worth $31,000. 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.