Short Interest in Entergy Corporation (NYSE:ETR) Expands By 38.3%

Entergy Corporation (NYSE:ETR - Get Free Report) was the recipient of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 13,440,000 shares, a growth of 38.3% from the March 15th total of 9,720,000 shares. Approximately 3.1% of the shares of the company are sold short. Based on an average daily volume of 4,490,000 shares, the short-interest ratio is currently 3.0 days.

Hedge Funds Weigh In On Entergy

A number of institutional investors and hedge funds have recently modified their holdings of ETR. Fortis Group Advisors LLC raised its stake in shares of Entergy by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider's stock valued at $26,000 after acquiring an additional 172 shares during the period. NBT Bank N A NY raised its holdings in shares of Entergy by 100.0% in the fourth quarter. NBT Bank N A NY now owns 340 shares of the utilities provider's stock worth $26,000 after buying an additional 170 shares during the period. Duncker Streett & Co. Inc. grew its position in Entergy by 100.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 358 shares of the utilities provider's stock valued at $27,000 after acquiring an additional 179 shares during the last quarter. Sandy Spring Bank lifted its position in shares of Entergy by 100.0% during the fourth quarter. Sandy Spring Bank now owns 358 shares of the utilities provider's stock worth $27,000 after purchasing an additional 179 shares during the last quarter. Finally, Glen Eagle Advisors LLC lifted its holdings in Entergy by 100.0% during the 4th quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider's stock valued at $27,000 after buying an additional 180 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company's stock.

Entergy Price Performance

Shares of NYSE:ETR traded up $0.60 during mid-day trading on Thursday, reaching $84.86. The stock had a trading volume of 955,579 shares, compared to its average volume of 3,675,027. The company has a market cap of $36.55 billion, a P/E ratio of 34.84, a price-to-earnings-growth ratio of 2.34 and a beta of 0.56. The business's 50 day moving average price is $83.52 and its 200 day moving average price is $78.11. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 1.81. Entergy has a 1 year low of $51.75 and a 1 year high of $88.38.

Entergy (NYSE:ETR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.66 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.03. Entergy had a net margin of 8.90% and a return on equity of 10.68%. The business had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $3.24 billion. During the same period last year, the company posted $0.26 EPS. Research analysts expect that Entergy will post 3.88 EPS for the current fiscal year.

Entergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Friday, May 2nd will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Friday, May 2nd. Entergy's payout ratio is 98.77%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ETR shares. BMO Capital Markets cut their target price on shares of Entergy from $94.00 to $89.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. LADENBURG THALM/SH SH upgraded Entergy from a "neutral" rating to a "buy" rating and set a $86.50 price objective for the company in a research note on Thursday, January 30th. Wells Fargo & Company lifted their target price on Entergy from $85.00 to $97.00 and gave the company an "overweight" rating in a research report on Wednesday, February 19th. UBS Group upped their price target on Entergy from $86.00 to $96.00 and gave the stock a "buy" rating in a research report on Friday, March 21st. Finally, Evercore ISI lifted their price objective on Entergy from $75.00 to $86.00 and gave the company an "in-line" rating in a research report on Wednesday, February 19th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $85.25.

Entergy Company Profile

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.