Federated Hermes Inc. Buys 643,554 Shares of Entergy Corporation (NYSE:ETR)

Federated Hermes Inc. grew its holdings in Entergy Corporation (NYSE:ETR - Free Report) by 23.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,399,181 shares of the utilities provider's stock after purchasing an additional 643,554 shares during the period. Federated Hermes Inc. owned about 0.79% of Entergy worth $257,726,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Hilltop Holdings Inc. lifted its stake in Entergy by 18.3% in the 3rd quarter. Hilltop Holdings Inc. now owns 3,044 shares of the utilities provider's stock worth $401,000 after purchasing an additional 471 shares in the last quarter. Investment Management Corp of Ontario increased its stake in Entergy by 48.2% in the third quarter. Investment Management Corp of Ontario now owns 7,069 shares of the utilities provider's stock worth $930,000 after purchasing an additional 2,300 shares during the period. IHT Wealth Management LLC bought a new stake in Entergy during the 3rd quarter valued at about $226,000. Quantinno Capital Management LP grew its stake in Entergy by 19.1% in the third quarter. Quantinno Capital Management LP now owns 31,538 shares of the utilities provider's stock worth $4,151,000 after purchasing an additional 5,057 shares in the last quarter. Finally, Stifel Financial Corp grew its position in shares of Entergy by 8.2% during the 3rd quarter. Stifel Financial Corp now owns 164,211 shares of the utilities provider's stock worth $21,612,000 after buying an additional 12,383 shares in the last quarter. Institutional investors own 88.07% of the company's stock.

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Entergy Trading Up 0.9 %

Shares of Entergy stock traded up $0.74 during trading on Friday, hitting $81.02. The stock had a trading volume of 1,066,301 shares, compared to its average volume of 3,679,103. Entergy Corporation has a 1 year low of $50.19 and a 1 year high of $88.38. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $34.90 billion, a PE ratio of 33.24, a P/E/G ratio of 2.34 and a beta of 0.56. The stock has a 50 day simple moving average of $83.48 and a 200 day simple moving average of $77.15.

Entergy (NYSE:ETR - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share (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 business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $3.24 billion. During the same quarter in the previous year, the business earned $0.26 EPS. On average, research analysts expect that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders 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 2.96%. Entergy's payout ratio is 98.77%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ETR. BMO Capital Markets lowered 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. LADENBURG THALM/SH SH upgraded shares of Entergy from a "neutral" rating to a "buy" rating and set a $86.50 target price for the company in a research note on Thursday, January 30th. Barclays upped their price target on shares of Entergy from $79.00 to $88.00 and gave the company an "overweight" rating in a research note on Tuesday. Wells Fargo & Company boosted their price objective on shares of Entergy from $85.00 to $97.00 and gave the company an "overweight" rating in a report on Wednesday, February 19th. Finally, StockNews.com upgraded Entergy from a "sell" rating to a "hold" rating in a research note on Sunday, December 29th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target 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.