Scotiabank Lowers Entergy (NYSE:ETR) Price Target to $82.00

Entergy (NYSE:ETR) had its target price cut by research analysts at Scotiabank from $165.00 to $82.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “sector perform” rating on the utilities provider’s stock. Scotiabank’s price objective would indicate a potential upside of 6.92% from the company’s current price.

A number of other equities research analysts have also recently weighed in on ETR. UBS Group lifted their price objective on Entergy from $72.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Bank of America lowered shares of Entergy from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $69.00 to $77.00 in a research note on Monday, November 4th. StockNews.com raised shares of Entergy from a “sell” rating to a “hold” rating in a research note on Sunday, December 29th. Mizuho lifted their price objective on shares of Entergy from $69.00 to $82.50 and gave the company an “outperform” rating in a report on Monday, November 4th. Finally, Royal Bank of Canada increased their target price on shares of Entergy from $68.50 to $70.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Entergy currently has an average rating of “Moderate Buy” and an average price target of $77.37.

Entergy Stock Up 1.0 %

Shares of NYSE ETR opened at $76.69 on Tuesday. The stock has a market cap of $32.89 billion, a PE ratio of 18.68, a P/E/G ratio of 2.48 and a beta of 0.71. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 1.77. Entergy has a 12-month low of $48.08 and a 12-month high of $79.04. The company has a 50-day moving average of $75.25 and a 200 day moving average of $65.62.

Entergy (NYSE:ETR) last posted its quarterly earnings results on Thursday, October 31st. The utilities provider reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.04. Entergy had a net margin of 14.83% and a return on equity of 9.53%. The business had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.46 billion. During the same quarter in the prior year, the company posted $1.64 EPS. As a group, sell-side analysts predict that Entergy will post 3.61 EPS for the current fiscal year.

Insiders Place Their Bets

In other Entergy news, insider Deanna D. Rodriguez sold 6,088 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $73.94, for a total transaction of $450,146.72. Following the sale, the insider now directly owns 3,952 shares in the company, valued at approximately $292,210.88. The trade was a 60.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Haley Fisackerly sold 8,268 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $74.52, for a total transaction of $616,090.02. Following the completion of the transaction, the insider now owns 4,032 shares of the company’s stock, valued at $300,444.48. This represents a 67.22 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,756 shares of company stock worth $1,095,637. 0.39% of the stock is owned by insiders.

Hedge Funds Weigh In On Entergy

Several hedge funds have recently bought and sold shares of the company. Fulton Bank N.A. grew its stake in Entergy by 34.4% in the 4th quarter. Fulton Bank N.A. now owns 18,668 shares of the utilities provider’s stock valued at $1,415,000 after acquiring an additional 4,780 shares during the last quarter. Peoples Bank KS grew its position in shares of Entergy by 100.0% in the fourth quarter. Peoples Bank KS now owns 1,000 shares of the utilities provider’s stock valued at $76,000 after purchasing an additional 500 shares during the last quarter. First County Bank CT raised its position in shares of Entergy by 99.7% during 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 lifted its stake in 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 buying an additional 795 shares in the last quarter. Finally, Diversified Trust Co grew its holdings in Entergy by 119.4% during the 4th quarter. Diversified Trust Co now owns 6,002 shares of the utilities provider’s stock valued at $455,000 after buying an additional 3,266 shares during the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

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.