Morgan Stanley Boosts Entergy Price Target and Rating

Morgan Stanley has increased its price target on Entergy (NYSE: ETR) from $75.00 to $78.00, according to a research report released on Thursday. The firm has assigned the stock an "equal weight" rating, suggesting investors should hold onto their shares. This new price objective implies a potential downside of 7.69% based on Entergy's current trading price.

Recent Analyst Ratings

Entergy has been the focus of several other analysts recently. KeyCorp recently downgraded the stock from an "overweight" rating to a "sector weight" rating. In contrast, UBS Group raised their price target from $72.00 to $90.00, giving Entergy a "buy" recommendation. Additionally, BMO Capital Markets upped their price objective from $79.00 to $94.00, rating the stock as "outperform." Wells Fargo also increased their target from $85.00 to $97.00, maintaining an "overweight" rating. Lastly, Evercore ISI raised its target from $75.00 to $86.00 while rating Entergy as "in-line." Currently, six analysts have a hold rating on the stock, nine have given a buy rating, and one has provided a strong buy rating. According to MarketBeat data, Entergy holds a consensus rating of "Moderate Buy" with a price target of $84.32.

Current Market Performance

As of midday trading on Thursday, Entergy's stock saw a slight decline of $0.16 and was priced at $84.50. A total of 589,273 shares exchanged hands, which is notably lower than its average trading volume of 3,289,278. The utility company has a debt-to-equity ratio of 1.81 and a market capitalization of approximately $36.37 billion. Over the last year, its stock has fluctuated between a low of $50.19 and a high of $88.38. Additional key metrics include a price-to-earnings ratio of 34.71 and a price-to-earnings-growth ratio of 2.34.

Recent Earnings Results

Entergy announced its quarterly earnings on February 18. The company reported earnings of $0.66 per share for the quarter, which was above the consensus estimate of $0.63. Entergy's net margin stands at 8.90%, and it has recorded a return on equity of 10.68%. The company generated revenue of $2.74 billion in the quarter, slightly lower than the expected $3.24 billion.

Institutional Investor Activity

Several institutional investors have recently adjusted their holdings in Entergy. Vanguard Group Inc. increased its stake by 101.9% in the fourth quarter, acquiring an additional 26,312,267 shares. Bank of America Corp DE also grew its stake by 142.8%, while Ameriprise Financial Inc. saw a 71.4% increase. FMR LLC raised its holdings by 90.7%. State Street Corp increased its stake by 1.1%. Currently, about 88.07% of Entergy's stock is held by institutional investors.

About Entergy Corporation

Entergy Corporation, along with its subsidiaries, is involved in the production and distribution of electricity. The company generates, transmits, and sells electric power primarily across Arkansas, Louisiana, Mississippi, and Texas, including the City of New Orleans. They also distribute natural gas services.

Morgan, Stanley, Entergy