Entergy (NYSE:ETR) Price Target Cut to $114.00

Entergy (NYSE:ETRGet Rating) had its price objective decreased by research analysts at Credit Suisse Group from $136.00 to $114.00 in a research report issued to clients and investors on Tuesday, The Fly reports. The firm currently has an “outperform” rating on the utilities provider’s stock. Credit Suisse Group’s price target suggests a potential upside of 8.96% from the company’s previous close.

Several other research analysts have also recently issued reports on ETR. The Goldman Sachs Group set a $224.00 target price on Entergy in a research report on Monday, May 16th. Warburg Research set a $177.00 target price on Entergy in a research report on Monday, May 16th. Wells Fargo & Company cut their price objective on Entergy from $140.00 to $125.00 in a research report on Tuesday. UBS Group set a $123.00 price objective on Entergy in a research report on Monday. Finally, Sanford C. Bernstein set a $100.00 price objective on Entergy and gave the stock a “market perform” rating in a research report on Tuesday, May 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $121.50.

Shares of Entergy stock opened at $104.63 on Tuesday. The stock has a market capitalization of $21.28 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 2.66 and a beta of 0.58. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.49 and a current ratio of 0.72. Entergy has a 52 week low of $98.50 and a 52 week high of $126.82. The stock has a 50 day moving average price of $117.52 and a two-hundred day moving average price of $113.01.

Entergy (NYSE:ETRGet Rating) last announced its earnings results on Wednesday, April 27th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.06). The company had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.90 billion. Entergy had a net margin of 8.99% and a return on equity of 10.44%. During the same period in the previous year, the firm earned $1.47 EPS. Research analysts forecast that Entergy will post 6.34 EPS for the current year.

In other Entergy news, CFO Andrew S. Marsh sold 1,300 shares of the business’s stock in a transaction on Friday, March 25th. The stock was sold at an average price of $115.02, for a total value of $149,526.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Andrew S. Marsh sold 30,700 shares of the business’s stock in a transaction on Monday, March 28th. The shares were sold at an average price of $115.02, for a total value of $3,531,114.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 205,290 shares of company stock worth $24,337,828. Corporate insiders own 0.37% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its position in Entergy by 2.0% during the first quarter. Bank of America Corp DE now owns 9,333,869 shares of the utilities provider’s stock worth $1,089,729,000 after buying an additional 181,755 shares in the last quarter. Verition Fund Management LLC grew its position in Entergy by 175.4% during the first quarter. Verition Fund Management LLC now owns 264,769 shares of the utilities provider’s stock worth $30,912,000 after buying an additional 168,628 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Entergy by 21.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,433 shares of the utilities provider’s stock worth $3,086,000 after buying an additional 4,644 shares in the last quarter. Advisory Services Network LLC grew its position in Entergy by 4.7% during the first quarter. Advisory Services Network LLC now owns 7,466 shares of the utilities provider’s stock worth $871,000 after buying an additional 332 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its position in Entergy by 6.4% during the first quarter. Neuberger Berman Group LLC now owns 15,829 shares of the utilities provider’s stock worth $1,849,000 after buying an additional 950 shares in the last quarter. Institutional investors own 88.94% of the company’s stock.

About Entergy (Get Rating)

Entergy Corporation, together with its subsidiaries, engages in the production and distribution of electricity in the United States. It operates in two segments, Utility and Entergy Wholesale Commodities. The Utility segment 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.

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