JPMorgan Investment Management, I. recently announced the acquisition of new stake in Entergy Corporation (NYSE:ETR). The institutional investor has increased its shareholding in the Utilities company by 12.50% to 6.51 million shares with purchase of 0.72 million shares. This fresh investment now brings its stake to 3.25% valued currently at $610.57 million. In addition, Renaissance Technologies LLC raised its holdings by 0.78 million to 5.68 million shares. And Pictet Asset Management SA has lifted its position by 26.12% or 0.81 million shares – to 3.91 million shares.
With over 0.74 million Entergy Corporation (ETR) shares trading Monday and a closing price of $98.39 on the day, the dollar volume was approximately $73.24 million. The shares have shown a positive weekly performance of 2.13% and its price on 07/20/20 lost nearly -2.04%. Currently, there are 199.79M common shares owned by the public and among those 199.03M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 18 analysts who have offered their price forecasts for ETR have a consensus price objective of $114.81. The analysts have set the share’s price value over the next 12 months at a high of $136.00 and a low of $101.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Entergy Corporation stock is 2.20 for the next 12 months. The average price target is 13.98% above its last price level and an upside to the estimated low will see the stock gain 2.58% over that period. But an upside of 27.65% will see the stock hit the forecast high price target while mean target price for the stock is $114.50.
Insiders at the company have transacted a total of 209 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 101 of these insider trades were purchases, accounting for 587,213 shares. Insider sales of the common stock occurred on 108 occasions, with total insider shares sold totaling 525,760 shares.
The top 3 mutual fund holders in Entergy Corporation are Vanguard Total Stock Market Index, Invesco Diversified Dividend Fund, and Vanguard Mid Cap Index Fund. Vanguard Total Stock Market Index owns 5.7 million shares of the company’s stock, all valued at over $534.92 million. The company sold 27923.0 shares recently to bring their total holdings to about 2.85% of the shares outstanding. Invesco Diversified Dividend Fund sold -0.22 million shares to see its total holdings shrink to 5.04 million shares valued at over $472.79 million and representing 2.52% of the shares outstanding. Vanguard Mid Cap Index Fund sold -0.25 million shares to bring its total holdings to over 4.95 million shares at a value of $464.26 million. Vanguard Mid Cap Index Fund now owns shares totaling to 2.47% of the shares outstanding.
Shares of Entergy Corporation (NYSE: ETR) opened at $100.00, down -$0.44 from a prior closing price of $100.44. However, the script later closed the day at $98.39, down -2.04%. The company’s stock has a 5-day price change of 2.13% and 2.01% over the past three months. ETR shares are trading -17.87% year to date (YTD), with the 12-month market performance down to -6.83% lower. It has a 12-month low price of $75.19 and touched a high of $135.55 over the same period. Currently, 0.74 million shares have been traded, compared to an average intraday trading volume of 1.36 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.60%, 0.71%, and -10.78% respectively.
Institutional ownership of Entergy Corporation (NYSE: ETR) shares accounts for 88.50% of the company’s 199.79M shares outstanding. Mutual fund holders own 39.32%, while other institutional holders and individual stakeholders account for 48.57% and 0.83% respectively.
It has a market capitalization of $19.28B and a beta (3y monthly) value of 0.57. The stock’s trailing 12-month PE ratio is 17.72, while the earnings-per-share (ttm) stands at $5.55. The company has a PEG of 2.86 and a Quick Ratio of 0.50 with the debt-to-equity ratio at 2.09. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.44% over the week and 2.87% over the month.
Analysts forecast that Entergy Corporation (ETR) will achieve an EPS of $1.25 for the current quarter, $2.46 for the next quarter and $5.93 for 2021. The lowest estimate earnings-per-share for the quarter is $1.01 while analysts give the company a high EPS estimate of $1.43. Comparatively, EPS for the current quarter was $1.35 a year ago. Earnings per share for the fiscal year are expected to increase by 36.10%, and 6.50% over the next financial year. EPS should grow at an annualized rate of 6.20% over the next five years, compared to 3.80% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 18 brokerage firm advisors rate Entergy Corporation (ETR) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 11 Wall Street analysts polled rate the stock as a buy, while 6 of the 18 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ETR, a number of firms have released research notes about the stock. UBS stated their Buy rating for the stock in a research note on June 05, 2020, with the firm’s price target at $140-$125. BMO Capital Markets coverage for the Entergy Corporation (ETR) stock in a research note released on May 21, 2020 offered a Outperform rating with a price target of $107. Seaport Global Securities was of a view on May 20, 2020 that the stock is Buy, while Argus gave the stock Buy rating on April 27, 2020, issuing a price target of $115. RBC Capital Mkts on their part issued Outperform rating on April 07, 2020.