UBS Group Increases Entergy (NYSE:ETR) Price Target to $144.00

Entergy (NYSE:ETR) had its price objective raised by equities researchers at UBS Group from $143.00 to $144.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the utilities provider’s stock. UBS Group’s price target would suggest a potential upside of 11.41% from the company’s previous close.

A number of other research firms also recently issued reports on ETR. Mizuho boosted their price target on Entergy from $107.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Wells Fargo & Company boosted their target price on Entergy from $125.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Guggenheim raised their price target on shares of Entergy from $118.00 to $128.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Morgan Stanley boosted their price objective on shares of Entergy from $100.00 to $109.00 and gave the stock an “underweight” rating in a research note on Friday, August 23rd. Finally, KeyCorp raised their target price on shares of Entergy from $123.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.35.

Entergy Stock Performance

NYSE ETR opened at $129.25 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.62 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $27.60 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 2.31 and a beta of 0.73. The business’s 50-day moving average price is $118.52 and its 200 day moving average price is $110.87. Entergy has a twelve month low of $87.10 and a twelve month high of $129.70.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.76 by $0.16. The firm had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.98 billion. Entergy had a net margin of 14.75% and a return on equity of 10.10%. During the same quarter in the prior year, the business posted $1.84 earnings per share. On average, research analysts predict that Entergy will post 7.22 earnings per share for the current year.

Insider Activity

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

Hedge Funds Weigh In On Entergy

A number of hedge funds have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System lifted its position in shares of Entergy by 6.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 234,595 shares of the utilities provider’s stock worth $25,275,000 after buying an additional 13,882 shares during the last quarter. Cetera Advisor Networks LLC lifted its holdings in Entergy by 11.1% in the fourth quarter. Cetera Advisor Networks LLC now owns 55,261 shares of the utilities provider’s stock worth $5,592,000 after acquiring an additional 5,509 shares during the last quarter. Norges Bank acquired a new position in Entergy in the fourth quarter valued at approximately $127,675,000. Groupama Asset Managment bought a new position in shares of Entergy during the fourth quarter valued at approximately $15,783,000. Finally, Acadian Asset Management LLC raised its position in shares of Entergy by 55.4% during the 1st quarter. Acadian Asset Management LLC now owns 14,877 shares of the utilities provider’s stock worth $1,571,000 after purchasing an additional 5,303 shares during the period. Institutional investors and hedge funds own 88.07% of the company’s stock.

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.