KeyCorp Increases Entergy (NYSE:ETR) Price Target to $140.00

Entergy (NYSE:ETR) had its price objective increased by investment analysts at KeyCorp from $130.00 to $140.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. KeyCorp’s target price would indicate a potential upside of 5.31% from the stock’s previous close.

Several other analysts have also weighed in on ETR. Guggenheim increased their price target on Entergy from $118.00 to $128.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Scotiabank increased their target price on shares of Entergy from $115.00 to $119.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Bank of America lifted their price target on shares of Entergy from $135.00 to $138.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. upped their price target 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, Wells Fargo & Company raised their price objective on shares of Entergy from $125.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Entergy has a consensus rating of “Moderate Buy” and a consensus target price of $128.58.

Entergy Stock Performance

Shares of NYSE:ETR opened at $132.94 on Monday. The firm has a fifty day simple moving average of $121.45 and a two-hundred day simple moving average of $112.30. Entergy has a 52 week low of $87.10 and a 52 week high of $133.38. The company has a quick ratio of 0.62, a current ratio of 0.94 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $28.39 billion, a P/E ratio of 13.33, a PEG ratio of 2.46 and a beta of 0.73.

Entergy (NYSE:ETR) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.76 by $0.16. Entergy had a return on equity of 10.10% and a net margin of 14.75%. The company had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same quarter last year, the business posted $1.84 earnings per share. On average, analysts expect that Entergy will post 7.22 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Peter S. Norgeot, Jr. sold 11,472 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $115.16, for a total transaction of $1,321,115.52. Following the transaction, the chief operating officer now directly owns 37,888 shares in the company, valued at $4,363,182.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Entergy news, CEO Andrew S. Marsh sold 3,200 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $121.46, for a total value of $388,672.00. Following the completion of the transaction, the chief executive officer now directly owns 150,731 shares in the company, valued at $18,307,787.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Peter S. Norgeot, Jr. sold 11,472 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $115.16, for a total transaction of $1,321,115.52. Following the completion of the sale, the chief operating officer now owns 37,888 shares in the company, valued at $4,363,182.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,810 shares of company stock worth $6,140,626. 0.39% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Iron Horse Wealth Management LLC purchased a new position in Entergy in the second quarter worth $25,000. Heritage Wealth Advisors grew its stake in Entergy by 2,172.7% during the 1st quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider’s stock worth $26,000 after buying an additional 239 shares during the last quarter. American National Bank increased its position in Entergy by 93.7% during the 2nd quarter. American National Bank now owns 277 shares of the utilities provider’s stock valued at $30,000 after buying an additional 134 shares in the last quarter. TruNorth Capital Management LLC purchased a new stake in Entergy in the second quarter valued at about $32,000. Finally, Rothschild Investment LLC acquired a new stake in Entergy in the second quarter worth about $34,000. Institutional investors own 88.07% of the company’s stock.

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.