Forefront Wealth Management Inc. purchased a new position in shares of Entergy Corporation (NYSE:ETR - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,000 shares of the utilities provider's stock, valued at approximately $303,000.
Other institutional investors have also bought and sold shares of the company. State Street Corp raised its stake in shares of Entergy by 1.1% in the third quarter. State Street Corp now owns 11,408,776 shares of the utilities provider's stock valued at $1,501,509,000 after acquiring an additional 128,667 shares during the last quarter. FMR LLC increased its holdings in Entergy by 5.0% during the 3rd quarter. FMR LLC now owns 6,613,647 shares of the utilities provider's stock valued at $870,422,000 after purchasing an additional 315,750 shares in the last quarter. Franklin Resources Inc. boosted its stake in Entergy by 53.0% in the third quarter. Franklin Resources Inc. now owns 5,718,859 shares of the utilities provider's stock worth $754,318,000 after purchasing an additional 1,981,611 shares in the last quarter. Geode Capital Management LLC boosted its stake in Entergy by 0.8% in the third quarter. Geode Capital Management LLC now owns 4,965,257 shares of the utilities provider's stock worth $651,206,000 after purchasing an additional 37,279 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Entergy by 60.6% in the third quarter. JPMorgan Chase & Co. now owns 3,589,727 shares of the utilities provider's stock valued at $472,444,000 after buying an additional 1,354,355 shares in the last quarter. Institutional investors and hedge funds own 88.07% of the company's stock.
Analyst Ratings Changes
A number of brokerages have commented on ETR. JPMorgan Chase & Co. increased their price objective on shares of Entergy from $87.00 to $98.00 and gave the stock an "overweight" rating in a report on Tuesday, March 11th. LADENBURG THALM/SH SH raised shares of Entergy from a "neutral" rating to a "buy" rating and set a $86.50 price target for the company in a report on Thursday, January 30th. Evercore ISI lifted their price objective on Entergy from $75.00 to $86.00 and gave the stock an "in-line" rating in a research report on Wednesday, February 19th. Morgan Stanley raised their target price on shares of Entergy from $75.00 to $78.00 and gave the company an "equal weight" rating in a research note on Thursday, March 20th. Finally, Scotiabank dropped their price target on shares of Entergy from $165.00 to $82.00 and set a "sector perform" rating for the company in a research note on Tuesday, January 7th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $84.75.
View Our Latest Research Report on ETR
Entergy Stock Up 1.4 %
Shares of NYSE:ETR traded up $1.13 during midday trading on Wednesday, reaching $84.05. 3,732,479 shares of the company were exchanged, compared to its average volume of 3,351,675. The firm has a market cap of $36.20 billion, a PE ratio of 34.52, a P/E/G ratio of 2.34 and a beta of 0.68. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 1.81. Entergy Corporation has a fifty-two week low of $50.19 and a fifty-two week high of $88.38. The stock has a fifty day simple moving average of $83.15 and a two-hundred day simple moving average of $75.47.
Entergy (NYSE:ETR - Get Free Report) last announced its earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.03. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $3.24 billion. Entergy had a return on equity of 10.68% and a net margin of 8.90%. During the same quarter last year, the firm earned $0.26 EPS. As a group, sell-side analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current year.
Entergy Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 10th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.86%. The ex-dividend date was Monday, February 10th. Entergy's payout ratio is 98.77%.
About Entergy
(
Free Report)
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.
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