JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Entergy (NYSE:ETR) Stock

Entergy (NYSE:ETR - Get Free Report) had its price target lifted by research analysts at JPMorgan Chase & Co. from $100.00 to $102.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the utilities provider's stock. JPMorgan Chase & Co.'s target price points to a potential upside of 20.41% from the stock's current price.

Several other research firms have also recently issued reports on ETR. Barclays cut their price objective on shares of Entergy from $91.00 to $87.00 and set an "overweight" rating for the company in a research report on Thursday, July 10th. KeyCorp upgraded shares of Entergy from a "sector weight" rating to an "overweight" rating and set a $85.00 price objective for the company in a research report on Wednesday, May 14th. BMO Capital Markets lifted their price target on shares of Entergy from $89.00 to $93.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. UBS Group lifted their price target on shares of Entergy from $86.00 to $96.00 and gave the company a "buy" rating in a research report on Friday, March 21st. Finally, Morgan Stanley dropped their price target on shares of Entergy from $82.00 to $81.00 and set an "equal weight" rating for the company in a research report on Wednesday, June 18th. Six equities research analysts have rated the stock with a hold rating, ten 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 a consensus price target of $86.46.

Entergy Price Performance

ETR traded up $1.16 during midday trading on Tuesday, hitting $84.71. 1,118,898 shares of the company traded hands, compared to its average volume of 3,552,212. The company has a current ratio of 0.82, a quick ratio of 0.55 and a debt-to-equity ratio of 1.91. The company has a market capitalization of $36.49 billion, a price-to-earnings ratio of 27.49, a PEG ratio of 2.26 and a beta of 0.59. Entergy has a 52-week low of $54.23 and a 52-week high of $88.38. The business has a 50 day simple moving average of $82.19 and a two-hundred day simple moving average of $82.21.

Entergy (NYSE:ETR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.22. The business had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.13 billion. Entergy had a net margin of 11.26% and a return on equity of 11.43%. During the same period last year, the firm posted $0.54 earnings per share. On average, equities analysts forecast that Entergy will post 3.88 earnings per share for the current fiscal year.

Institutional Trading of Entergy

Several institutional investors have recently modified their holdings of ETR. Vanguard Group Inc. lifted its position in shares of Entergy by 101.9% during the 4th quarter. Vanguard Group Inc. now owns 52,133,646 shares of the utilities provider's stock worth $3,952,773,000 after buying an additional 26,312,267 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Entergy by 142.8% during the 4th quarter. Bank of America Corp DE now owns 17,594,747 shares of the utilities provider's stock worth $1,334,034,000 after buying an additional 10,347,926 shares during the last quarter. FMR LLC lifted its position in shares of Entergy by 90.7% during the 4th quarter. FMR LLC now owns 12,612,407 shares of the utilities provider's stock worth $956,273,000 after buying an additional 5,998,760 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Entergy by 71.4% during the 4th quarter. Ameriprise Financial Inc. now owns 12,884,421 shares of the utilities provider's stock worth $976,895,000 after buying an additional 5,368,396 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Entergy by 106.2% during the 4th quarter. Geode Capital Management LLC now owns 10,236,816 shares of the utilities provider's stock worth $774,103,000 after buying an additional 5,271,559 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company's stock.

Entergy Company Profile

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.