Entergy (NYSE:ETR) Rating Lowered to Sector Weight at KeyCorp

Entergy (NYSE:ETR - Get Free Report) was downgraded by analysts at KeyCorp from an "overweight" rating to a "sector weight" rating in a note issued to investors on Wednesday, MarketBeat reports.

Several other equities analysts have also weighed in on ETR. UBS Group increased their price objective on Entergy from $144.00 to $180.00 and gave the company a "buy" rating in a report on Tuesday. JPMorgan Chase & Co. increased their price objective on Entergy from $131.00 to $141.00 and gave the company an "overweight" rating in a report on Monday, August 12th. Wells Fargo & Company increased their price objective on Entergy from $137.00 to $170.00 and gave the company an "overweight" rating in a report on Friday, November 1st. Argus upgraded Entergy to a "strong-buy" rating in a research report on Wednesday, August 28th. Finally, Mizuho increased their target price on Entergy from $138.00 to $165.00 and gave the stock an "outperform" rating in a research report on Monday, November 4th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $153.19.

Entergy Stock Up 0.2 %

ETR traded up $0.32 during midday trading on Wednesday, reaching $151.65. 2,315,548 shares of the company were exchanged, compared to its average volume of 1,622,637. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.59 and a current ratio of 0.89. The company's fifty day moving average price is $141.32 and its 200 day moving average price is $123.74. The company has a market cap of $32.51 billion, a price-to-earnings ratio of 18.36, a price-to-earnings-growth ratio of 2.56 and a beta of 0.71. Entergy has a one year low of $96.15 and a one year high of $158.07.

Entergy's stock is going to split before the market opens on Friday, December 13th. The 2-1 split was announced on Thursday, October 31st. The newly issued shares will be payable to shareholders after the closing bell on Thursday, December 12th.

Entergy (NYSE:ETR - Get Free Report) last released its earnings results on Thursday, October 31st. The utilities provider reported $2.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.08. The company had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.46 billion. Entergy had a return on equity of 9.53% and a net margin of 14.83%. During the same period in the prior year, the company posted $3.27 earnings per share. As a group, analysts expect that Entergy will post 7.22 EPS for the current year.

Insider Activity

In related news, insider Haley Fisackerly sold 4,134 shares of the firm's stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $149.03, for a total value of $616,090.02. Following the sale, the insider now directly owns 2,016 shares of the company's stock, valued at $300,444.48. This trade represents a 67.22 % 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. Also, COO Peter S. Norgeot, Jr. sold 7,922 shares of the firm's stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $130.00, for a total value of $1,029,860.00. Following the completion of the sale, the chief operating officer now directly owns 34,993 shares in the company, valued at $4,549,090. The trade was a 18.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,506 shares of company stock valued at $2,073,670. 0.39% of the stock is currently owned by insiders.

Institutional Trading of Entergy

Large investors have recently modified their holdings of the business. Iron Horse Wealth Management LLC bought a new stake in shares of Entergy in the second quarter worth about $25,000. Legacy Investment Solutions LLC bought a new stake in shares of Entergy in the third quarter worth about $27,000. Cetera Trust Company N.A bought a new stake in shares of Entergy in the third quarter worth about $29,000. Fortitude Family Office LLC grew its stake in shares of Entergy by 423.8% in the third quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider's stock worth $29,000 after purchasing an additional 178 shares during the last quarter. Finally, American National Bank lifted its holdings in Entergy by 93.7% in the second quarter. American National Bank now owns 277 shares of the utilities provider's stock worth $30,000 after buying an additional 134 shares during the period. 88.07% of the stock is owned by institutional investors.

Entergy Company Profile

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.