Wells Fargo & Company Issues Positive Forecast for Entergy (NYSE:ETR) Stock Price

Entergy (NYSE:ETR) had its price objective hoisted by research analysts at Wells Fargo & Company from $137.00 to $170.00 in a report released on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 16.23% from the stock’s current price.

A number of other research firms have also recently weighed in on ETR. JPMorgan Chase & Co. increased their price objective on Entergy from $131.00 to $141.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. KeyCorp upped their price objective on shares of Entergy from $143.00 to $162.00 and gave the stock an “overweight” rating in a research report on Friday. Royal Bank of Canada lifted their target price on shares of Entergy from $137.00 to $140.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Bank of America lifted their price objective on Entergy from $135.00 to $138.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Argus upgraded shares of Entergy to a “strong-buy” rating in a research report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.12.

Entergy Stock Performance

Shares of ETR traded down $8.52 during mid-day trading on Friday, reaching $146.26. 2,089,880 shares of the company’s stock were exchanged, compared to its average volume of 1,590,472. The business’s fifty day simple moving average is $129.20 and its 200-day simple moving average is $116.82. The stock has a market capitalization of $31.27 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 2.54 and a beta of 0.74. Entergy has a 52-week low of $94.85 and a 52-week high of $156.85. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.62.

Entergy (NYSE:ETR) last issued its quarterly earnings data on Thursday, October 31st. The utilities provider reported $2.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.91 by $0.08. Entergy had a net margin of 14.75% and a return on equity of 10.10%. The company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same period last year, the firm posted $3.27 EPS. On average, equities research analysts expect that Entergy will post 7.21 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Peter S. Norgeot, Jr. sold 7,922 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $130.00, for a total transaction of $1,029,860.00. Following the sale, the chief operating officer now owns 34,993 shares in the company, valued at $4,549,090. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, COO Peter S. Norgeot, Jr. sold 11,472 shares of Entergy stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $115.16, for a total transaction of $1,321,115.52. Following the sale, the chief operating officer now directly owns 37,888 shares of the company’s stock, valued at approximately $4,363,182.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Peter S. Norgeot, Jr. sold 7,922 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $130.00, for a total value of $1,029,860.00. Following the sale, the chief operating officer now owns 34,993 shares of the company’s stock, valued at approximately $4,549,090. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 50,810 shares of company stock valued at $6,140,626. Company insiders own 0.39% of the company’s stock.

Institutional Trading of Entergy

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Iron Horse Wealth Management LLC bought a new position in Entergy during the 2nd quarter worth approximately $25,000. Heritage Wealth Advisors lifted its holdings in Entergy by 2,172.7% in the first quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 239 shares during the last quarter. Cetera Trust Company N.A bought a new position in Entergy in the third quarter worth about $29,000. Fortitude Family Office LLC boosted its stake in Entergy by 423.8% in the third quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 178 shares during the period. Finally, American National Bank grew its holdings in shares of Entergy by 93.7% during the second quarter. American National Bank now owns 277 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 134 shares during the last quarter. 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.