Entergy (NYSE:ETR) Price Target Cut to $89.00 by Analysts at BMO Capital Markets

Entergy (NYSE:ETR - Get Free Report) had its price target lowered by stock analysts at BMO Capital Markets from $94.00 to $89.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the utilities provider's stock. BMO Capital Markets' target price suggests a potential upside of 7.97% from the company's previous close.

Several other research firms have also recently issued reports on ETR. 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 report on Thursday, January 30th. Evercore ISI raised their price target on Entergy from $75.00 to $86.00 and gave the company an "in-line" rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. upped their price objective on Entergy from $87.00 to $98.00 and gave the stock an "overweight" rating in a report on Tuesday, March 11th. Scotiabank reduced their target price on Entergy from $165.00 to $82.00 and set a "sector perform" rating for the company in a report on Tuesday, January 7th. Finally, Morgan Stanley upped their price target on shares of Entergy from $75.00 to $78.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 20th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $85.25.

Entergy Stock Performance

NYSE ETR traded down $1.03 during trading on Friday, reaching $82.43. The company's stock had a trading volume of 673,586 shares, compared to its average volume of 4,342,152. The business's fifty day moving average price is $83.49 and its 200-day moving average price is $77.51. Entergy has a twelve month low of $50.51 and a twelve month high of $88.38. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.59 and a current ratio of 0.72. The firm has a market cap of $35.51 billion, a price-to-earnings ratio of 33.85, a P/E/G ratio of 2.34 and a beta of 0.56.

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

Institutional Trading of Entergy

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Legacy Financial Advisors Inc. lifted its holdings in shares of Entergy by 60.0% during the 4th quarter. Legacy Financial Advisors Inc. now owns 16,077 shares of the utilities provider's stock valued at $1,219,000 after acquiring an additional 6,028 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of Entergy in the fourth quarter worth about $4,393,000. Flagship Harbor Advisors LLC grew its stake in shares of Entergy by 74.3% in the fourth quarter. Flagship Harbor Advisors LLC now owns 7,959 shares of the utilities provider's stock valued at $603,000 after buying an additional 3,393 shares in the last quarter. LaFleur & Godfrey LLC acquired a new position in Entergy during the 4th quarter worth approximately $217,000. Finally, Avior Wealth Management LLC grew its position in Entergy by 324.3% in the fourth quarter. Avior Wealth Management LLC now owns 734 shares of the utilities provider's stock valued at $56,000 after acquiring an additional 561 shares in the last quarter. Institutional investors and hedge funds 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.