Entergy (NYSE:ETR) Price Target Raised to $97.00

Entergy (NYSE:ETR - Get Free Report) had its price target increased by stock analysts at Wells Fargo & Company from $85.00 to $97.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the utilities provider's stock. Wells Fargo & Company's target price indicates a potential upside of 14.19% from the company's current price.

Other equities analysts also recently issued research reports about the company. Scotiabank cut their price target on Entergy from $165.00 to $82.00 and set a "sector perform" rating for the company in a research note on Tuesday, January 7th. StockNews.com upgraded Entergy from a "sell" rating to a "hold" rating in a research note on Sunday, December 29th. Bank of America downgraded Entergy from a "buy" rating to a "neutral" rating and boosted their target price for the stock from $69.00 to $77.00 in a research note on Monday, November 4th. LADENBURG THALM/SH SH upgraded Entergy from a "neutral" rating to a "buy" rating and set a $86.50 target price on the stock in a research note on Thursday, January 30th. Finally, Mizuho boosted their target price on Entergy from $69.00 to $82.50 and gave the stock an "outperform" rating in a research note on Monday, November 4th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $82.14.

Entergy Stock Down 1.1 %

Entergy stock traded down $0.92 during midday trading on Wednesday, reaching $84.94. The stock had a trading volume of 4,754,451 shares, compared to its average volume of 3,793,458. Entergy has a 12 month low of $49.80 and a 12 month high of $88.38. The company has a market capitalization of $36.56 billion, a P/E ratio of 34.88, a PEG ratio of 2.66 and a beta of 0.72. The company has a fifty day moving average price of $79.24 and a two-hundred day moving average price of $71.30. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 1.81.

Entergy (NYSE:ETR - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.03. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $3.24 billion. Entergy had a return on equity of 10.68% and a net margin of 8.90%. During the same quarter in the previous year, the business earned $0.26 EPS. As a group, equities analysts expect that Entergy will post 3.88 EPS for the current fiscal year.

Insider Transactions at Entergy

In other news, insider Deanna D. Rodriguez sold 6,088 shares of the company's stock in a transaction on Friday, December 13th. The shares were sold at an average price of $73.94, for a total value of $450,146.72. Following the transaction, the insider now owns 3,952 shares of the company's stock, valued at approximately $292,210.88. This represents a 60.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.39% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Entergy by 101.9% in the fourth quarter. Vanguard Group Inc. now owns 52,133,646 shares of the utilities provider's stock worth $3,952,773,000 after acquiring an additional 26,312,267 shares in the last quarter. Bank of America Corp DE grew its position in Entergy by 142.8% in the fourth quarter. Bank of America Corp DE now owns 17,594,747 shares of the utilities provider's stock worth $1,334,034,000 after acquiring an additional 10,347,926 shares in the last quarter. Ameriprise Financial Inc. grew its position in Entergy by 71.4% in the fourth quarter. Ameriprise Financial Inc. now owns 12,884,421 shares of the utilities provider's stock worth $976,895,000 after acquiring an additional 5,368,396 shares in the last quarter. FMR LLC grew its position in Entergy by 90.7% in the fourth quarter. FMR LLC now owns 12,612,407 shares of the utilities provider's stock worth $956,273,000 after acquiring an additional 5,998,760 shares in the last quarter. Finally, State Street Corp grew its position in Entergy by 1.1% in the third quarter. State Street Corp now owns 11,408,776 shares of the utilities provider's stock worth $1,501,509,000 after acquiring an additional 128,667 shares in the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

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.