Entergy (NYSE:ETR) Upgrade of Rating
In a note issued to investors and clients today, BofA Merrill upped shares of Entergy (NYSE:ETR) to Buy rating from Neutral rating.
This rating upgrade is well received by equity trades, as NYSE:ETR is currently trading 0.88% higher at $85.98 as of 4:08 PM New York time. Entergy shares have [From2] 0% in the last 200 days, while the S&P 500 has surged 6.00% in the same time.
Out of 16 brokers covering Entergy, 1 rate it a Buy, 19 indicate a Hold while 1 suggest a Sell. The highest target is $88 and the lowest is $67 according to Thomson/First Call. The 12-month mean target is $78.09, which means downside potential of 9.18% over the current price.
Symons Capital Management Inc had the biggest stake with ownership of 273,096 shares as of Q2 2015 for 5.13% of the US equity exposure. Electron Capital Partners Llc is another notably bullish fund who is having 215,265 shares of Entergy or 3.68% of their US equity exposure. In addition, Breton Hill Capital Ltd. have 2.43% of their US equity exposure invested in the company for 104,482 shares. The New York-based fund Gideon Capital Advisors Inc. disclosed it had acquired so far a stake worth about 2.29% of the fund’s stock portfolio in Entergy. The California-based fund Polaris Greystone Financial Group Llc is also positive about the stock, possessing 49,446 shares or 2.01% of their US equity exposure.
Entergy (NYSE:ETR) Profile
Entergy Corporation is a holding company. The Company is an integrated energy company engaged in electric power production and retail electric distribution operations. The Company operates through two business segments: Utility and Entergy Wholesale Commodities.
Entergy (NYSE:ETR) traded up 0.88% on 12 December, hitting $85.98. A total of 1.79M shares of the company’s stock traded hands. This is up from average of 1.31M shares. Entergy has a 52 week low of $66.71 and a 52 week high of $86.4. The company has a market cap of $15.44B and a P/E ratio of 0.
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