Entergy Corporation (NYSE:ETR) Stock Has Consensus Target Price of $121.57

Key Points

• Analyst sentiment is broadly positive: 20 of 22 brokerages rate Entergy a buy, with an overall “Moderate Buy” consensus and an average 12-month price target of $121.57.
• Quarterly results beat expectations: Entergy reported EPS of $1.98 versus the $1.73 consensus and revenue of $4.37 billion versus expectations of $4.12 billion.
• Entergy raised its dividend: The quarterly payout increased from $0.64 to $0.68 per share, or $2.72 annualized, representing a 2.4% yield at the article’s cited share price.

Shares of Entergy Corporation (NYSE:ETR - Get Free Report) have been given an average recommendation of "Moderate Buy" by the twenty-two brokerages that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and twenty have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $121.57.

Several equities research analysts have recently commented on ETR shares. Truist Financial set a $119.00 price target on Entergy and gave the stock a "buy" rating in a research note on Monday, October 12th. JPMorgan Chase & Co. decreased their price target on Entergy from $137.00 to $130.00 and set an "overweight" rating for the company in a report on Tuesday, October 13th. Barclays reiterated an "overweight" rating and issued a $115.00 price objective (down from $128.00) on shares of Entergy in a research report on Monday, October 19th. Weiss Ratings raised shares of Entergy from a "buy (b)" rating to a "buy (b+)" rating in a research note on Tuesday, November 3rd. Finally, Jefferies Financial Group dropped their price objective on shares of Entergy from $133.00 to $130.00 and set a "buy" rating on the stock in a research note on Tuesday, October 20th.

Insider Buying and Selling at Entergy

In other news, insider Laura Landreaux sold 5,600 shares of the business's stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $106.20, for a total transaction of $594,720.00. Following the transaction, the insider directly owned 22,589 shares in the company, valued at $2,398,951.80. The trade was a 19.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.21% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Entergy

A number of hedge funds have recently added to or reduced their stakes in ETR. Bell Investment Advisors Inc acquired a new position in Entergy during the 2nd quarter worth approximately $28,000. City State Bank raised its stake in shares of Entergy by 439.6% during the 3rd quarter. City State Bank now owns 259 shares of the utilities provider's stock worth $26,000 after buying an additional 211 shares in the last quarter. Pingora Partners LLC acquired a new stake in shares of Entergy in the 2nd quarter valued at approximately $30,000. Bank of New Hampshire lifted its holdings in shares of Entergy by 303.0% in the 3rd quarter. Bank of New Hampshire now owns 266 shares of the utilities provider's stock valued at $26,000 after buying an additional 200 shares during the period. Finally, Dynamic Wealth Strategies LLC acquired a new stake in shares of Entergy in the 1st quarter valued at approximately $30,000. Institutional investors and hedge funds own 88.07% of the company's stock.

Entergy Stock Performance

Shares of NYSE ETR traded down $0.83 during midday trading on Friday, reaching $111.12. 2,283,128 shares of the company were exchanged, compared to its average volume of 3,201,098. The company has a current ratio of 1.18, a quick ratio of 0.93 and a debt-to-equity ratio of 1.70. Entergy has a 1 year low of $90.87 and a 1 year high of $118.44. The stock has a fifty day simple moving average of $105.27 and a 200 day simple moving average of $108.10. The stock has a market cap of $53.10 billion, a P/E ratio of 25.54, a PEG ratio of 2.50 and a beta of 0.44.

Entergy (NYSE:ETR - Get Free Report) last issued its quarterly earnings results on Monday, November 2nd. The utilities provider reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.25. Entergy had a return on equity of 11.44% and a net margin of 14.63%. The firm had revenue of $4.37 billion for the quarter, compared to analysts' expectations of $4.12 billion. During the same quarter in the previous year, the firm posted $1.53 EPS. On average, research analysts forecast that Entergy will post 4.41 earnings per share for the current fiscal year.

Entergy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be issued a $0.68 dividend. The ex-dividend date of this dividend is Friday, November 13th. This is a positive change from Entergy's previous quarterly dividend of $0.64. This represents a $2.72 annualized dividend and a dividend yield of 2.4%. Entergy's payout ratio is presently 62.53%.

Entergy Company Profile

Entergy Corporation is an investor-owned energy company headquartered in New Orleans. Its primary business is providing regulated electric utility service to residential, commercial and industrial customers. Through its utility subsidiaries, Entergy serves communities in Arkansas, Louisiana, Mississippi and Texas. Its operations include generating, transmitting and distributing electricity, with power produced from a mix of sources that includes nuclear energy. The company traces its corporate history to Middle South Utilities, which adopted the Entergy name in 1989.

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