Barclays Raises Entergy (NYSE:ETR) Price Target to $88.00

Entergy (NYSE:ETR - Free Report) had its price objective boosted by Barclays from $79.00 to $88.00 in a report issued on Tuesday morning,Benzinga reports. Barclays currently has an overweight rating on the utilities provider's stock.

ETR has been the subject of a number of other research reports. Morgan Stanley increased their price objective on Entergy from $75.00 to $78.00 and gave the company an "equal weight" rating in a research note on Thursday, March 20th. Scotiabank decreased their target price on Entergy from $165.00 to $82.00 and set a "sector perform" rating for the company in a research report on Tuesday, January 7th. LADENBURG THALM/SH SH raised shares of Entergy from a "neutral" rating to a "buy" rating and set a $86.50 price target for the company in a research report on Thursday, January 30th. JPMorgan Chase & Co. boosted their target price on Entergy from $87.00 to $98.00 and gave the stock an "overweight" rating in a report on Tuesday, March 11th. Finally, UBS Group upped their target price on shares of Entergy from $86.00 to $96.00 and gave the stock a "buy" rating in a research note on Friday, March 21st. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Entergy presently has an average rating of "Moderate Buy" and an average price target of $85.25.

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Entergy Price Performance

Shares of NYSE ETR traded up $1.43 during trading hours on Tuesday, reaching $81.71. 3,384,251 shares of the stock traded hands, compared to its average volume of 3,694,283. The company's 50-day simple moving average is $83.48 and its two-hundred day simple moving average is $77.26. The company has a market capitalization of $35.20 billion, a P/E ratio of 33.55, a price-to-earnings-growth ratio of 2.34 and a beta of 0.56. Entergy has a 52-week low of $50.19 and a 52-week high of $88.38. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 1.81.

Entergy (NYSE:ETR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.63 by $0.03. Entergy had a net margin of 8.90% and a return on equity of 10.68%. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same period last year, the firm posted $0.26 earnings per share. Equities research analysts forecast that Entergy will post 3.88 EPS for the current year.

Entergy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 2nd will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.94%. The ex-dividend date is Friday, May 2nd. Entergy's dividend payout ratio is presently 98.77%.

Institutional Investors Weigh In On Entergy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ETR. Fortis Group Advisors LLC raised its stake in Entergy by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 172 shares during the period. NBT Bank N A NY increased its position in Entergy by 100.0% during the fourth quarter. NBT Bank N A NY now owns 340 shares of the utilities provider's stock valued at $26,000 after acquiring an additional 170 shares during the last quarter. Duncker Streett & Co. Inc. grew its holdings in Entergy by 100.0% during the 4th quarter. Duncker Streett & Co. Inc. now owns 358 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 179 shares during the last quarter. Sandy Spring Bank raised its holdings in shares of Entergy by 100.0% in the fourth quarter. Sandy Spring Bank now owns 358 shares of the utilities provider's stock worth $27,000 after buying an additional 179 shares during the period. Finally, Glen Eagle Advisors LLC increased its stake in Entergy by 100.0% in the fourth quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider's stock worth $27,000 after purchasing an additional 180 shares during the period. 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.