Entergy Corporation (NYSE:ETR) Shares Acquired by Bank of Nova Scotia

Bank of Nova Scotia lifted its position in Entergy Corporation (NYSE:ETR - Free Report) by 126.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,017 shares of the utilities provider's stock after acquiring an additional 34,668 shares during the period. Bank of Nova Scotia's holdings in Entergy were worth $4,702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC acquired a new stake in shares of Entergy in the 4th quarter worth $4,393,000. Flagship Harbor Advisors LLC increased its position in Entergy by 74.3% during the fourth quarter. Flagship Harbor Advisors LLC now owns 7,959 shares of the utilities provider's stock worth $603,000 after purchasing an additional 3,393 shares during the last quarter. LaFleur & Godfrey LLC acquired a new position in Entergy in the 4th quarter valued at about $217,000. Avior Wealth Management LLC increased its holdings in shares of Entergy by 324.3% during the 4th quarter. Avior Wealth Management LLC now owns 734 shares of the utilities provider's stock worth $56,000 after buying an additional 561 shares during the last quarter. Finally, Braun Stacey Associates Inc. raised its position in shares of Entergy by 88.8% during the 4th quarter. Braun Stacey Associates Inc. now owns 360,502 shares of the utilities provider's stock valued at $27,333,000 after buying an additional 169,511 shares during the period. 88.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on ETR. Evercore ISI lifted their target price on Entergy from $75.00 to $86.00 and gave the company an "in-line" rating in a research report on Wednesday, February 19th. Scotiabank dropped their target price on shares of Entergy from $165.00 to $82.00 and set a "sector perform" rating for the company in a report on Tuesday, January 7th. Wells Fargo & Company raised their price target on Entergy from $85.00 to $97.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 19th. Barclays boosted their price objective on Entergy from $79.00 to $88.00 and gave the company an "overweight" rating in a report on Tuesday, April 8th. Finally, StockNews.com upgraded Entergy from a "sell" rating to a "hold" rating in a report on Sunday, December 29th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $85.25.

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Entergy Stock Performance

NYSE ETR traded up $0.79 on Tuesday, reaching $83.37. The stock had a trading volume of 2,993,996 shares, compared to its average volume of 3,691,250. The stock has a market cap of $35.91 billion, a P/E ratio of 34.24, a price-to-earnings-growth ratio of 2.34 and a beta of 0.56. Entergy Corporation has a 12-month low of $50.19 and a 12-month high of $88.38. The business's 50-day moving average price is $83.48 and its 200 day moving average price is $77.47. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.59 and a current ratio of 0.72.

Entergy (NYSE:ETR - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.63 by $0.03. Entergy had a net margin of 8.90% and a return on equity of 10.68%. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the prior year, the firm earned $0.26 EPS. As a group, equities analysts expect that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 2nd will be paid a $0.60 dividend. The ex-dividend date is Friday, May 2nd. This represents a $2.40 annualized dividend and a yield of 2.88%. Entergy's dividend payout ratio is currently 98.77%.

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.