Entergy (NYSE:ETR) Downgraded by Bank of America to Neutral

Bank of America lowered shares of Entergy (NYSE:ETR - Free Report) from a buy rating to a neutral rating in a research note published on Monday morning, Marketbeat Ratings reports. The firm currently has $154.00 target price on the utilities provider's stock, up from their prior target price of $138.00.

Other analysts have also issued reports about the stock. UBS Group upped their price target on shares of Entergy from $143.00 to $144.00 and gave the company a "buy" rating in a research report on Friday, September 20th. Morgan Stanley upgraded Entergy from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $116.00 to $150.00 in a research report on Monday. Guggenheim raised their target price on shares of Entergy from $145.00 to $165.00 and gave the stock a "buy" rating in a report on Friday. Scotiabank upped their price target on shares of Entergy from $119.00 to $144.00 and gave the company a "sector perform" rating in a report on Friday. Finally, Wells Fargo & Company raised their price target on shares of Entergy from $137.00 to $170.00 and gave the stock an "overweight" rating in a report on Friday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $149.81.

Entergy Price Performance

Shares of NYSE ETR traded down $2.36 during trading hours on Monday, reaching $142.43. 2,915,811 shares of the stock traded hands, compared to its average volume of 1,605,298. The company's 50-day simple moving average is $130.18 and its two-hundred day simple moving average is $117.60. The company has a market capitalization of $30.46 billion, a P/E ratio of 17.35, a price-to-earnings-growth ratio of 2.93 and a beta of 0.71. Entergy has a 52-week low of $94.85 and a 52-week high of $156.85. The company has a quick ratio of 0.62, a current ratio of 0.89 and a debt-to-equity ratio of 1.77.

Entergy (NYSE:ETR - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The utilities provider reported $2.99 EPS for the quarter, topping the consensus estimate of $2.91 by $0.08. Entergy had a net margin of 14.83% and a return on equity of 9.53%. The firm 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 earnings per share. Equities research analysts forecast that Entergy will post 7.21 EPS for the current year.

Entergy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 13th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.37%. This is a boost from Entergy's previous quarterly dividend of $1.13. The ex-dividend date is Wednesday, November 13th. Entergy's dividend payout ratio (DPR) is presently 55.05%.

Insider Activity

In related news, COO Peter S. Norgeot, Jr. sold 11,472 shares of the firm's stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $115.16, for a total value of $1,321,115.52. Following the transaction, the chief operating officer now owns 37,888 shares of the company's stock, valued at approximately $4,363,182.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Andrew S. Marsh sold 600 shares of the firm's stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $120.03, for a total value of $72,018.00. Following the transaction, the chief executive officer now owns 150,731 shares of the company's stock, valued at $18,092,241.93. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Peter S. Norgeot, Jr. sold 11,472 shares of the business's stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $115.16, for a total value of $1,321,115.52. Following the transaction, the chief operating officer now owns 37,888 shares of the company's stock, valued at approximately $4,363,182.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,610 shares of company stock valued at $5,751,954 in the last quarter. 0.39% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Entergy

Several large investors have recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC purchased a new position in shares of Entergy during the 2nd quarter valued at $25,000. Heritage Wealth Advisors lifted its position in shares of Entergy by 2,172.7% in the first quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider's stock valued at $26,000 after acquiring an additional 239 shares in the last quarter. Cetera Trust Company N.A bought a new position in shares of Entergy in the third quarter worth about $29,000. Fortitude Family Office LLC grew its position in shares of Entergy by 423.8% during 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 in the last quarter. Finally, American National Bank raised its stake 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 purchasing an additional 134 shares during the period. Hedge funds and other 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.