Entergy (NYSE:ETR) Given New $82.00 Price Target at Scotiabank

Entergy (NYSE:ETR) had its price objective reduced by research analysts at Scotiabank from $165.00 to $82.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “sector perform” rating on the utilities provider’s stock. Scotiabank’s target price points to a potential upside of 6.92% from the company’s previous close.

A number of other research firms also recently commented on ETR. Bank of America downgraded shares of Entergy from a “buy” rating to a “neutral” rating and upped their price objective for the company from $69.00 to $77.00 in a research note on Monday, November 4th. Wells Fargo & Company upped their price target on shares of Entergy from $68.50 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Guggenheim lifted their price target on shares of Entergy from $72.50 to $82.50 and gave the company a “buy” rating in a report on Friday, November 1st. BMO Capital Markets dropped their price objective on Entergy from $83.00 to $79.50 and set an “outperform” rating for the company in a report on Monday, November 18th. Finally, StockNews.com raised Entergy from a “sell” rating to a “hold” rating in a research report on Sunday, December 29th. 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $77.37.

Entergy Stock Performance

Shares of ETR opened at $76.69 on Tuesday. The company 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 company has a debt-to-equity ratio of 1.77, a quick ratio of 0.59 and a current ratio of 0.89. Entergy has a 1 year low of $48.08 and a 1 year high of $79.04. The company’s 50 day simple moving average is $75.25 and its 200 day simple moving average is $65.62.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.04. The company 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 company posted $1.64 EPS. On average, sell-side analysts predict that Entergy will post 3.61 EPS for the current year.

Insider Buying and Selling

In related news, insider Eliecer Viamontes sold 400 shares of the stock in a transaction dated Wednesday, November 6th. The stock was 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Deanna D. Rodriguez sold 6,088 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $73.94, for a total value of $450,146.72. Following the sale, the insider now owns 3,952 shares of the company’s stock, valued at approximately $292,210.88. This trade represents a 60.64 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,756 shares of company stock valued at $1,095,637. Corporate insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On Entergy

Institutional investors and hedge funds have recently made changes to their positions in the business. Fulton Bank N.A. increased its stake in shares of Entergy by 34.4% in the fourth quarter. Fulton Bank N.A. now owns 18,668 shares of the utilities provider’s stock worth $1,415,000 after buying an additional 4,780 shares during the last quarter. Peoples Bank KS grew its holdings in Entergy by 100.0% during the 4th quarter. Peoples Bank KS now owns 1,000 shares of the utilities provider’s stock worth $76,000 after acquiring an additional 500 shares in the last quarter. First County Bank CT increased its position in shares of Entergy by 99.7% in the 4th quarter. First County Bank CT now owns 10,941 shares of the utilities provider’s stock worth $830,000 after purchasing an additional 5,461 shares during the last quarter. Bank & Trust Co raised its stake in shares of Entergy by 100.0% in the 4th quarter. Bank & Trust Co now owns 1,590 shares of the utilities provider’s stock valued at $121,000 after purchasing an additional 795 shares in the last quarter. Finally, Diversified Trust Co lifted its position in shares of Entergy by 119.4% during the fourth quarter. Diversified Trust Co now owns 6,002 shares of the utilities provider’s stock worth $455,000 after purchasing an additional 3,266 shares during the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

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.