M&T Bank Corp Increases Stock Position in Entergy Corporation (NYSE:ETR)

M&T Bank Corp grew its holdings in shares of Entergy Corporation (NYSE:ETR - Free Report) by 196.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,811 shares of the utilities provider's stock after purchasing an additional 23,717 shares during the quarter. M&T Bank Corp's holdings in Entergy were worth $2,714,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC lifted its holdings in shares of Entergy by 2.1% in the third quarter. OneDigital Investment Advisors LLC now owns 3,427 shares of the utilities provider's stock worth $451,000 after buying an additional 69 shares in the last quarter. Acropolis Investment Management LLC lifted its holdings in shares of Entergy by 0.8% in the third quarter. Acropolis Investment Management LLC now owns 8,836 shares of the utilities provider's stock worth $1,163,000 after buying an additional 69 shares in the last quarter. Great Valley Advisor Group Inc. lifted its holdings in shares of Entergy by 0.9% in the third quarter. Great Valley Advisor Group Inc. now owns 8,087 shares of the utilities provider's stock worth $1,065,000 after buying an additional 74 shares in the last quarter. Brown Brothers Harriman & Co. lifted its holdings in shares of Entergy by 1.3% in the third quarter. Brown Brothers Harriman & Co. now owns 7,233 shares of the utilities provider's stock worth $952,000 after buying an additional 91 shares in the last quarter. Finally, Aptus Capital Advisors LLC raised its stake in Entergy by 3.2% in the third quarter. Aptus Capital Advisors LLC now owns 3,727 shares of the utilities provider's stock valued at $491,000 after purchasing an additional 116 shares in the last quarter. Institutional investors own 88.07% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ETR. Wells Fargo & Company raised their target price on shares of Entergy from $85.00 to $97.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. UBS Group raised their target price on shares of Entergy from $72.00 to $90.00 and gave the company a "buy" rating in a research note on Tuesday, December 3rd. Evercore ISI raised their target price on shares of Entergy from $75.00 to $86.00 and gave the company an "in-line" rating in a research note on Wednesday, February 19th. BMO Capital Markets raised their target price on shares of Entergy from $79.00 to $94.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Finally, KeyCorp downgraded shares of Entergy from an "overweight" rating to a "sector weight" rating in a research note on Wednesday, December 4th. 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $84.11.

Insider Activity at Entergy

In related news, insider Deanna D. Rodriguez sold 6,088 shares of Entergy stock in a transaction on Friday, December 13th. The shares were sold at an average price of $73.94, for a total value of $450,146.72. Following the sale, the insider now owns 3,952 shares in the company, valued at $292,210.88. The trade was a 60.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.39% of the stock is currently owned by company insiders.

Entergy Trading Up 2.3 %

Shares of Entergy stock traded up $1.85 on Tuesday, hitting $82.31. The stock had a trading volume of 5,745,234 shares, compared to its average volume of 3,253,493. 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 one year low of $50.19 and a one year high of $88.38. The stock has a market cap of $35.43 billion, a price-to-earnings ratio of 33.80, a PEG ratio of 2.34 and a beta of 0.68. The stock's 50-day simple moving average is $81.62 and its two-hundred day simple moving average is $73.81.

Entergy (NYSE:ETR - Get Free Report) last issued its earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts' expectations of $3.24 billion. During the same quarter last year, the business earned $0.26 earnings per share. As a group, sell-side analysts predict that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 10th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.92%. The ex-dividend date was Monday, February 10th. Entergy's dividend payout ratio (DPR) 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.