Entergy (NYSE:ETR) Upgraded to Buy at Bank of America

Written by Amanda

Entergy (NYSE:ETRGet Free Report) was upgraded by Bank of America from a “neutral” rating to a “buy” rating in a research note issued on Tuesday, Briefing.com reports. The firm presently has a $110.00 price objective on the utilities provider’s stock, up from their previous price objective of $94.00. Bank of America‘s price target would suggest a potential upside of 11.16% from the company’s current price.

ETR has been the subject of several other research reports. UBS Group upgraded Entergy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $103.00 to $118.00 in a research note on Monday, November 6th. Royal Bank of Canada cut shares of Entergy from an “outperform” rating to a “sector perform” rating and set a $117.00 price objective for the company. in a research note on Wednesday, November 8th. Guggenheim upped their target price on shares of Entergy from $99.00 to $103.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. BMO Capital Markets cut their price target on shares of Entergy from $120.00 to $114.00 and set an “outperform” rating for the company in a report on Wednesday, August 30th. Finally, Morgan Stanley decreased their price target on shares of Entergy from $97.00 to $92.00 and set an “underweight” rating on the stock in a report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Entergy has an average rating of “Moderate Buy” and an average target price of $111.50.

Check Out Our Latest Analysis on ETR

Entergy Price Performance

ETR opened at $98.96 on Tuesday. The firm has a 50-day moving average price of $95.20 and a 200-day moving average price of $97.79. Entergy has a twelve month low of $87.10 and a twelve month high of $120.78. The company has a quick ratio of 0.65, a current ratio of 0.91 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $20.93 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 2.52 and a beta of 0.67.

Entergy (NYSE:ETRGet Free Report) last issued its earnings results on Wednesday, November 1st. The utilities provider reported $3.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.30. Entergy had a net margin of 11.56% and a return on equity of 10.77%. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $4.22 billion. During the same quarter in the previous year, the firm posted $2.84 EPS. Equities analysts expect that Entergy will post 6.72 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Marcus V. Brown sold 13,500 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $95.40, for a total value of $1,287,900.00. Following the completion of the sale, the executive vice president now owns 9,251 shares of the company’s stock, valued at approximately $882,545.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Entergy

Several institutional investors have recently bought and sold shares of ETR. EverSource Wealth Advisors LLC boosted its stake in shares of Entergy by 157.1% during the third quarter. EverSource Wealth Advisors LLC now owns 270 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 165 shares during the period. Massmutual Trust Co. FSB ADV grew its holdings in Entergy by 108.8% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 307 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 160 shares during the last quarter. Fairfield Bush & CO. purchased a new position in shares of Entergy in the first quarter valued at about $29,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Entergy during the third quarter valued at about $32,000. Finally, Harbour Investments Inc. boosted its holdings in shares of Entergy by 17,550.0% during the third quarter. Harbour Investments Inc. now owns 353 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 351 shares during the period. 86.52% of the stock is currently owned by hedge funds and other institutional investors.

About Entergy

(Get Free Report)

Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. The company 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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About the author


Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai