Edgemoor Investment Advisors Inc. lifted its holdings in Entergy Corporation (NYSE:ETR - Free Report) by 98.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 124,860 shares of the utilities provider's stock after buying an additional 61,877 shares during the period. Edgemoor Investment Advisors Inc.'s holdings in Entergy were worth $9,467,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. Fortis Group Advisors LLC raised its stake in shares of Entergy by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider's stock worth $26,000 after purchasing an additional 172 shares in the last quarter. NBT Bank N A NY raised its position in Entergy by 100.0% during the fourth quarter. NBT Bank N A NY now owns 340 shares of the utilities provider's stock valued at $26,000 after acquiring an additional 170 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in Entergy in the third quarter valued at approximately $27,000. Duncker Streett & Co. Inc. increased its stake in shares of Entergy by 100.0% during the 4th quarter. Duncker Streett & Co. Inc. now owns 358 shares of the utilities provider's stock worth $27,000 after purchasing an additional 179 shares during the last quarter. Finally, Riverview Trust Co raised its holdings in shares of Entergy by 100.0% during the 4th quarter. Riverview Trust Co now owns 364 shares of the utilities provider's stock valued at $28,000 after purchasing an additional 182 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
ETR has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped 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. Morgan Stanley upped their price target on shares of Entergy from $75.00 to $78.00 and gave the company an "equal weight" rating in a report on Thursday. Wells Fargo & Company boosted their price objective on Entergy from $85.00 to $97.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 19th. Scotiabank lowered their target price on Entergy from $165.00 to $82.00 and set a "sector perform" rating on the stock in a report on Tuesday, January 7th. Finally, LADENBURG THALM/SH SH raised Entergy from a "neutral" rating to a "buy" rating and set a $86.50 price target on the stock in a research report on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Entergy currently has a consensus rating of "Moderate Buy" and a consensus price target of $84.75.
Read Our Latest Stock Analysis on ETR
Entergy Price Performance
Shares of ETR traded down $0.90 during mid-day trading on Friday, hitting $83.74. 9,132,300 shares of the company traded hands, compared to its average volume of 3,328,443. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 1.81. The business has a 50-day moving average of $82.75 and a 200 day moving average of $74.80. Entergy Corporation has a one year low of $50.19 and a one year high of $88.38. The stock has a market capitalization of $36.04 billion, a price-to-earnings ratio of 34.39, a PEG ratio of 2.34 and a beta of 0.68.
Entergy (NYSE:ETR - Get Free Report) last released its earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.03. Entergy had a return on equity of 10.68% and a net margin of 8.90%. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the previous year, the company posted $0.26 earnings per share. As a group, equities analysts expect that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.
Entergy Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 10th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date was Monday, February 10th. Entergy's dividend payout ratio is presently 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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