Entergy (NYSE:ETR) Cut to Sector Weight at KeyCorp

KeyCorp downgraded shares of Entergy (NYSE:ETR) from an overweight rating to a sector weight rating in a research report released on Wednesday, MarketBeat Ratings reports.

Other equities research analysts have also issued reports about the company. UBS Group boosted their target price on Entergy from $144.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday. Morgan Stanley upgraded Entergy from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $116.00 to $150.00 in a report on Monday, November 4th. Argus raised Entergy to a “strong-buy” rating in a research report on Wednesday, August 28th. Bank of America lowered Entergy from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $138.00 to $154.00 in a research report on Monday, November 4th. Finally, Royal Bank of Canada increased their price target on shares of Entergy from $137.00 to $140.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $153.19.

Entergy Stock Performance

Shares of NYSE ETR opened at $151.53 on Wednesday. The stock has a market capitalization of $32.49 billion, a P/E ratio of 18.46, a P/E/G ratio of 2.52 and a beta of 0.71. The firm’s 50-day moving average price is $142.24 and its two-hundred day moving average price is $124.14. Entergy has a 52-week low of $96.15 and a 52-week high of $158.07. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 1.77.

Entergy’s stock is set to split before the market opens on Friday, December 13th. The 2-1 split was announced on Thursday, October 31st. The newly minted shares will be distributed to shareholders after the closing bell on Thursday, December 12th.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $2.99 EPS for the quarter, beating analysts’ consensus estimates of $2.91 by $0.08. The company had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.46 billion. Entergy had a return on equity of 9.53% and a net margin of 14.83%. During the same period last year, the company earned $3.27 earnings per share. As a group, sell-side analysts forecast that Entergy will post 7.22 earnings per share for the current year.

Entergy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Wednesday, November 13th were paid a $1.20 dividend. This is a boost from Entergy’s previous quarterly dividend of $1.13. This represents a $4.80 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend was Wednesday, November 13th. Entergy’s payout ratio is 58.47%.

Insider Transactions at Entergy

In other news, insider Haley Fisackerly sold 4,134 shares of Entergy stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $149.03, for a total transaction of $616,090.02. Following the transaction, the insider now owns 2,016 shares in the company, valued at approximately $300,444.48. The trade was a 67.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eliecer Viamontes sold 200 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $147.00, for a total transaction of $29,400.00. Following the completion of the transaction, the insider now owns 4,173 shares in the company, valued at approximately $613,431. The trade was a 4.57 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,506 shares of company stock valued at $2,073,670. 0.39% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Entergy

Large investors have recently modified their holdings of the company. OneDigital Investment Advisors LLC boosted its stake in Entergy by 2.1% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 3,427 shares of the utilities provider’s stock valued at $451,000 after purchasing an additional 69 shares during the last quarter. Acropolis Investment Management LLC grew its position in Entergy by 0.8% in the 3rd quarter. Acropolis Investment Management LLC now owns 8,836 shares of the utilities provider’s stock worth $1,163,000 after purchasing an additional 69 shares in the last quarter. Great Valley Advisor Group Inc. boosted its stake in shares of Entergy by 0.9% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 8,087 shares of the utilities provider’s stock worth $1,065,000 after buying an additional 74 shares during the last quarter. Bank & Trust Co grew its holdings in shares of Entergy by 12.8% in the third quarter. Bank & Trust Co now owns 795 shares of the utilities provider’s stock valued at $105,000 after acquiring an additional 90 shares in the last quarter. Finally, Prossimo Advisors LLC lifted its holdings in Entergy by 1.5% during the third quarter. Prossimo Advisors LLC now owns 5,971 shares of the utilities provider’s stock worth $786,000 after acquiring an additional 90 shares during the period. 88.07% of the stock is currently 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.