KeyCorp Raises Entergy (NYSE:ETR) Price Target to $130.00

Entergy (NYSE:ETR) had its target price increased by KeyCorp from $123.00 to $130.00 in a report published on Monday, Benzinga reports. KeyCorp currently has an overweight rating on the utilities provider’s stock.

Several other analysts have also recently issued reports on the stock. LADENBURG THALM/SH SH reaffirmed a neutral rating and set a $109.50 price objective (down previously from $117.00) on shares of Entergy in a research note on Wednesday, June 12th. Argus raised Entergy to a strong-buy rating in a report on Wednesday, August 28th. Mizuho boosted their price objective on Entergy from $107.00 to $114.00 and gave the stock a buy rating in a research note on Friday, May 31st. Morgan Stanley raised their target price on Entergy from $100.00 to $109.00 and gave the stock an underweight rating in a research note on Friday, August 23rd. Finally, Guggenheim boosted their price target on shares of Entergy from $118.00 to $128.00 and gave the company a buy rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Entergy currently has an average rating of Moderate Buy and a consensus target price of $125.35.

Entergy Price Performance

Shares of Entergy stock opened at $127.68 on Monday. The stock has a market capitalization of $27.26 billion, a P/E ratio of 12.81, a PEG ratio of 2.31 and a beta of 0.73. The business has a 50 day simple moving average of $118.12 and a two-hundred day simple moving average of $110.62. Entergy has a 12 month low of $87.10 and a 12 month high of $129.66. 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 (NYSE:ETR) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.92 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 during the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the prior year, the company earned $1.84 EPS. As a group, analysts predict that Entergy will post 7.22 EPS for the current fiscal year.

Entergy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 13th were given a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date was Tuesday, August 13th. Entergy’s payout ratio is 45.34%.

Insider Transactions at Entergy

In related news, COO Peter S. Norgeot, Jr. sold 3,250 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $122.56, for a total value of $398,320.00. Following the sale, the chief operating officer now owns 34,993 shares in the company, valued at approximately $4,288,742.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Entergy news, CEO Andrew S. Marsh sold 3,200 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $121.46, for a total value of $388,672.00. Following the completion of the transaction, the chief executive officer now owns 150,731 shares of the company’s stock, valued at approximately $18,307,787.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Peter S. Norgeot, Jr. sold 3,250 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $122.56, for a total value of $398,320.00. Following the sale, the chief operating officer now directly owns 34,993 shares in the company, valued at approximately $4,288,742.08. The disclosure for this sale can be found here. Insiders sold a total of 42,888 shares of company stock worth $5,110,766 over the last ninety days. Company insiders own 0.39% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Tidemark LLC purchased a new position in shares of Entergy in the 4th quarter valued at about $25,000. Iron Horse Wealth Management LLC acquired a new position in Entergy during the 2nd quarter worth approximately $25,000. Heritage Wealth Advisors grew its holdings in Entergy by 2,172.7% during the 1st quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 239 shares in the last quarter. American National Bank increased its position in shares of Entergy by 93.7% in the 2nd quarter. American National Bank now owns 277 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 134 shares during the last quarter. Finally, TruNorth Capital Management LLC purchased a new stake in shares of Entergy during the 2nd quarter worth $32,000. 88.07% of the stock is owned by institutional investors and hedge funds.

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.