Guggenheim Issues Positive Forecast for Entergy (NYSE:ETR) Stock Price

Entergy (NYSE:ETR) had its price target hoisted by Guggenheim from $145.00 to $165.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a buy rating on the utilities provider’s stock.

Several other research analysts also recently issued reports on ETR. Barclays lowered their price objective on shares of Entergy from $138.00 to $137.00 and set an “overweight” rating on the stock in a research report on Monday, October 7th. Morgan Stanley lifted their target price on shares of Entergy from $109.00 to $115.00 and gave the company an “underweight” rating in a report on Wednesday, September 25th. Argus raised shares of Entergy to a “strong-buy” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. lifted their target price on shares of Entergy from $131.00 to $141.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Finally, Bank of America boosted their price objective on shares of Entergy from $135.00 to $138.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $141.96.

Entergy Stock Down 6.5 %

Shares of ETR traded down $9.99 during midday trading on Friday, reaching $144.79. The stock had a trading volume of 3,871,509 shares, compared to its average volume of 1,598,875. Entergy has a 1-year low of $94.85 and a 1-year high of $156.85. The company’s fifty day simple moving average is $129.72 and its two-hundred day simple moving average is $117.12. The company has a market cap of $30.96 billion, a price-to-earnings ratio of 17.64, a PEG ratio of 2.54 and a beta of 0.74. 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 announced its quarterly earnings results on Thursday, October 31st. The utilities provider reported $2.99 EPS for the quarter, topping the consensus estimate of $2.91 by $0.08. Entergy had a net margin of 14.75% and a return on equity of 10.10%. The firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.46 billion. During the same period last year, the business earned $3.27 EPS. Equities research analysts expect that Entergy will post 7.21 earnings per share for the current year.

Entergy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 13th will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date is Wednesday, November 13th. This is a positive change from Entergy’s previous quarterly dividend of $1.13. Entergy’s payout ratio is currently 58.47%.

Insider Activity

In other news, insider Eliecer Viamontes sold 5,166 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $120.00, for a total value of $619,920.00. Following the completion of the transaction, the insider now owns 5,117 shares of the company’s stock, valued at $614,040. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Eliecer Viamontes sold 5,166 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $120.00, for a total value of $619,920.00. Following the completion of the sale, the insider now directly owns 5,117 shares in the company, valued at approximately $614,040. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew S. Marsh sold 19,200 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $120.35, for a total transaction 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,810 shares of company stock valued at $6,140,626 over the last 90 days. Insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Entergy

Institutional investors have recently bought and sold shares of the stock. Atria Investments Inc grew its stake in Entergy by 18.3% during the third quarter. Atria Investments Inc now owns 44,802 shares of the utilities provider’s stock worth $5,896,000 after buying an additional 6,929 shares during the period. Assetmark Inc. grew its stake in Entergy by 20.1% during the third quarter. Assetmark Inc. now owns 38,895 shares of the utilities provider’s stock worth $5,119,000 after buying an additional 6,505 shares during the period. Verdence Capital Advisors LLC grew its stake in Entergy by 2.9% during the third quarter. Verdence Capital Advisors LLC now owns 9,028 shares of the utilities provider’s stock worth $1,188,000 after buying an additional 254 shares during the period. CWA Asset Management Group LLC purchased a new stake in Entergy during the third quarter worth approximately $2,030,000. Finally, Capital Performance Advisors LLP purchased a new stake in Entergy during the third quarter worth approximately $51,000. 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.