Envestnet Asset Management Inc. Increases Stake in Entergy Corporation (NYSE:ETR)

Envestnet Asset Management Inc. boosted its stake in Entergy Corporation (NYSE:ETR - Free Report) by 95.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,054,008 shares of the utilities provider's stock after buying an additional 1,002,753 shares during the period. Envestnet Asset Management Inc. owned 0.48% of Entergy worth $155,735,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Sit Investment Associates Inc. grew its position in Entergy by 80.6% during the 4th quarter. Sit Investment Associates Inc. now owns 1,950 shares of the utilities provider's stock worth $148,000 after purchasing an additional 870 shares in the last quarter. Aviva PLC raised its stake in shares of Entergy by 100.0% in the 4th quarter. Aviva PLC now owns 6,720 shares of the utilities provider's stock valued at $510,000 after acquiring an additional 3,360 shares in the last quarter. Resona Asset Management Co. Ltd. bought a new position in shares of Entergy in the fourth quarter valued at approximately $9,746,000. Wells Fargo & Company MN lifted its position in Entergy by 50.2% during the 4th quarter. Wells Fargo & Company MN now owns 1,347,336 shares of the utilities provider's stock worth $102,155,000 after acquiring an additional 450,171 shares during the last quarter. Finally, Wealth Advisors of Tampa Bay LLC lifted its position in shares of Entergy by 97.1% during the 4th quarter. Wealth Advisors of Tampa Bay LLC now owns 70,494 shares of the utilities provider's stock worth $5,345,000 after purchasing an additional 34,734 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research firms have commented on ETR. Barclays upped their price target on Entergy from $79.00 to $88.00 and gave the company an "overweight" rating in a report on Tuesday, April 8th. 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 note on Friday. Wells Fargo & Company upped their price target on shares of Entergy from $85.00 to $97.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. increased their price objective on Entergy from $87.00 to $98.00 and gave the company an "overweight" rating in a research report on Tuesday, March 11th. Finally, 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. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Entergy currently has an average rating of "Moderate Buy" and an average price target of $85.25.

Entergy Price Performance

NYSE ETR traded up $1.43 during trading hours on Friday, reaching $81.71. 3,384,251 shares of the stock traded hands, compared to its average volume of 3,698,418. The company has a market cap of $35.20 billion, a price-to-earnings ratio of 33.55, a price-to-earnings-growth ratio of 2.34 and a beta of 0.56. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.72 and a quick ratio of 0.59. Entergy Corporation has a 1 year low of $50.19 and a 1 year high of $88.38. The stock has a 50 day simple moving average of $83.48 and a two-hundred day simple moving average of $77.35.

Entergy (NYSE:ETR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.66 EPS for the quarter, beating 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 company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $3.24 billion. During the same period in the prior year, the business posted $0.26 EPS. On average, analysts predict that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 2nd will be given a $0.60 dividend. The ex-dividend date is Friday, May 2nd. This represents a $2.40 annualized dividend and a yield of 2.94%. Entergy's dividend payout ratio (DPR) is presently 98.77%.

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.