Entergy (NYSE:ETR) Price Target Increased to $128.00 by Analysts at Bank of America

Entergy (NYSE:ETR) had its target price upped by equities research analysts at Bank of America from $125.00 to $128.00 in a report released on Tuesday, BenzingaRatingsTable reports. The firm currently has a “buy” rating on the utilities provider’s stock. Bank of America‘s price target would suggest a potential upside of 10.08% from the stock’s previous close.

Several other brokerages also recently issued reports on ETR. Citigroup raised their price objective on shares of Entergy from $109.00 to $134.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. They noted that the move was a valuation call. ValuEngine downgraded shares of Entergy from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. raised their price target on Entergy from $116.00 to $129.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. UBS Group cut Entergy from a “buy” rating to a “neutral” rating and boosted their price target for the company from $115.00 to $126.00 in a research report on Thursday, October 31st. Finally, Morgan Stanley boosted their price target on Entergy from $112.00 to $116.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $116.30.

Shares of NYSE ETR opened at $116.28 on Tuesday. The company has a current ratio of 0.72, a quick ratio of 0.53 and a debt-to-equity ratio of 1.69. Entergy has a twelve month low of $82.06 and a twelve month high of $122.09. The stock has a 50 day moving average of $117.36 and a two-hundred day moving average of $109.65. The stock has a market cap of $23.17 billion, a P/E ratio of 15.91, a P/E/G ratio of 3.13 and a beta of 0.26.

Entergy (NYSE:ETR) last announced its earnings results on Wednesday, October 30th. The utilities provider reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.23. The business had revenue of $36.72 billion for the quarter, compared to analyst estimates of $3.42 billion. Entergy had a net margin of 7.38% and a return on equity of 11.13%. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period last year, the firm posted $3.77 earnings per share. As a group, research analysts predict that Entergy will post 5.31 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in ETR. Millennium Management LLC boosted its holdings in Entergy by 174.1% in the 3rd quarter. Millennium Management LLC now owns 1,965,094 shares of the utilities provider’s stock valued at $230,623,000 after purchasing an additional 1,248,178 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Entergy by 8.0% in the second quarter. Price T Rowe Associates Inc. MD now owns 10,064,350 shares of the utilities provider’s stock valued at $1,035,924,000 after acquiring an additional 744,690 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Entergy by 1,812.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 719,883 shares of the utilities provider’s stock worth $84,485,000 after purchasing an additional 682,238 shares in the last quarter. Morgan Stanley boosted its position in shares of Entergy by 192.6% during the 2nd quarter. Morgan Stanley now owns 1,014,641 shares of the utilities provider’s stock worth $104,436,000 after purchasing an additional 667,875 shares in the last quarter. Finally, Wedge Capital Management L L P NC grew its stake in shares of Entergy by 497.2% during the 3rd quarter. Wedge Capital Management L L P NC now owns 769,597 shares of the utilities provider’s stock worth $90,320,000 after purchasing an additional 640,734 shares during the period. Institutional investors own 86.05% of the company’s stock.

Entergy Company Profile

Entergy Corporation, together with its subsidiaries, engages in the production and distribution of electricity in the United States. It generates electricity through gas/oil, nuclear, coal, hydro, and solar power sources. The company's Utility segment generates, transmits, distributes, and sells electric power in portions of Arkansas, Mississippi, Texas, and Louisiana, including the City of New Orleans; and distributes natural gas.

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Analyst Recommendations for Entergy (NYSE:ETR)

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