HighTower Advisors LLC Purchases 44,083 Shares of Entergy Corporation (NYSE:ETR)

HighTower Advisors LLC lifted its holdings in Entergy Corporation (NYSE:ETR - Free Report) by 100.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 87,795 shares of the utilities provider's stock after buying an additional 44,083 shares during the period. HighTower Advisors LLC's holdings in Entergy were worth $6,657,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new position in shares of Entergy in the 3rd quarter worth approximately $27,000. NBT Bank N A NY lifted its stake in Entergy by 100.0% in the fourth quarter. NBT Bank N A NY now owns 340 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 170 shares during the last quarter. Fortis Group Advisors LLC lifted its stake in 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 purchasing an additional 172 shares during the last quarter. Duncker Streett & Co. Inc. lifted its stake in Entergy by 100.0% in the fourth quarter. Duncker Streett & Co. Inc. now owns 358 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 179 shares during the last quarter. Finally, Riverview Trust Co lifted its stake in Entergy by 100.0% in the fourth quarter. Riverview Trust Co now owns 364 shares of the utilities provider's stock valued at $28,000 after purchasing an additional 182 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Morgan Stanley upped their price objective on Entergy from $75.00 to $78.00 and gave the company an "equal weight" rating in a research note on Thursday. Scotiabank dropped their price objective on Entergy from $165.00 to $82.00 and set a "sector perform" rating on the stock in a research note on Tuesday, January 7th. Wells Fargo & Company upped their price objective on Entergy from $85.00 to $97.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. KeyCorp downgraded Entergy from an "overweight" rating to a "sector weight" rating in a research note on Wednesday, December 4th. Finally, BMO Capital Markets increased their target price on Entergy from $79.00 to $94.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Entergy presently has a consensus rating of "Moderate Buy" and a consensus target price of $84.75.

Entergy Price Performance

Shares of Entergy stock traded down $0.90 during trading on Friday, hitting $83.74. The stock had a trading volume of 9,132,300 shares, compared to its average volume of 3,326,732. The firm has a market cap of $36.04 billion, a price-to-earnings ratio of 34.39, a P/E/G ratio of 2.34 and a beta of 0.68. Entergy Corporation has a 12 month low of $50.19 and a 12 month high of $88.38. The business's 50-day moving average is $82.90 and its 200 day moving average is $74.96. 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 (NYSE:ETR - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.03. The firm had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $3.24 billion. Entergy had a net margin of 8.90% and a return on equity of 10.68%. During the same quarter in the prior year, the firm posted $0.26 earnings per share. As a group, sell-side analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 10th were paid a $0.60 dividend. The ex-dividend date was Monday, February 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.87%. Entergy's dividend payout ratio is presently 98.77%.

Entergy 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.