Mizuho Reiterates $97.00 Price Target for Entergy (NYSE:ETR)

Key Points

• Mizuho raised Entergy's price target from $95.00 to $97.00, indicating a potential upside of 8.57% from its previous close.
• JPMorgan Chase increased its target for Entergy to $102.00, while six analysts rated the stock as a hold, ten as buy, and one as a strong buy.
• Entergy reported $1.05 earnings per share, surpassing estimates of $0.91, amid analyst projections of $3.88 earnings per share for the fiscal year.

Entergy (NYSE:ETR - Get Free Report) received a $97.00 price objective from equities researchers at Mizuho in a research report issued on Thursday, MarketBeat Ratings reports. The firm currently has an "outperform" rating on the utilities provider's stock. Mizuho's price target points to a potential upside of 8.08% from the stock's previous close.

Other analysts have also issued research reports about the stock. Barclays dropped their price objective on shares of Entergy from $91.00 to $87.00 and set an "overweight" rating for the company in a report on Thursday, July 10th. Raymond James Financial initiated coverage on shares of Entergy in a report on Friday, June 13th. They set a "market perform" rating for the company. Morgan Stanley dropped their price objective on shares of Entergy from $82.00 to $81.00 and set an "equal weight" rating for the company in a report on Wednesday, June 18th. KeyCorp raised their price target on shares of Entergy from $85.00 to $88.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. raised their price target on shares of Entergy from $100.00 to $102.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $88.07.

Entergy Stock Performance

ETR stock traded down $0.68 during mid-day trading on Thursday, reaching $89.75. 2,658,290 shares of the stock traded hands, compared to its average volume of 2,588,573. The company has a quick ratio of 0.55, a current ratio of 0.80 and a debt-to-equity ratio of 1.73. The business has a 50-day moving average of $83.55 and a two-hundred day moving average of $83.18. Entergy has a 52 week low of $57.58 and a 52 week high of $91.46. The firm has a market capitalization of $38.66 billion, a PE ratio of 22.35, a P/E/G ratio of 2.46 and a beta of 0.57.

Entergy (NYSE:ETR - Get Free Report) last released its earnings results on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.14. The business had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $3.11 billion. Entergy had a net margin of 14.35% and a return on equity of 11.52%. During the same quarter last year, the company earned $1.92 earnings per share. As a group, equities analysts predict that Entergy will post 3.88 EPS for the current fiscal year.

Insider Buying and Selling at Entergy

In related news, insider Haley Fisackerly sold 4,463 shares of the business's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $90.50, for a total value of $403,901.50. Following the sale, the insider directly owned 3,318 shares of the company's stock, valued at approximately $300,279. The trade was a 57.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.39% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Entergy

Several institutional investors have recently added to or reduced their stakes in the stock. Legacy Financial Advisors Inc. increased its stake in Entergy by 60.0% in the 4th quarter. Legacy Financial Advisors Inc. now owns 16,077 shares of the utilities provider's stock valued at $1,219,000 after buying an additional 6,028 shares during the last quarter. Choreo LLC grew its stake in Entergy by 12.3% in the 1st quarter. Choreo LLC now owns 9,546 shares of the utilities provider's stock valued at $816,000 after buying an additional 1,042 shares during the last quarter. Bank of Montreal Can grew its stake in Entergy by 74.3% in the 4th quarter. Bank of Montreal Can now owns 670,923 shares of the utilities provider's stock valued at $50,869,000 after buying an additional 286,005 shares during the last quarter. J.W. Cole Advisors Inc. acquired a new position in shares of Entergy during the 1st quarter worth approximately $1,073,000. Finally, Cambridge Investment Research Advisors Inc. grew its position in shares of Entergy by 25.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 78,470 shares of the utilities provider's stock worth $6,708,000 after purchasing an additional 15,892 shares in the last quarter. 88.07% of the stock is owned by 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.