Norges Bank Invests $259.94 Million in Entergy Corporation (NYSE:ETR)

Norges Bank bought a new stake in Entergy Corporation (NYSE:ETR - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,428,435 shares of the utilities provider's stock, valued at approximately $259,944,000. Norges Bank owned 0.80% of Entergy as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Fortis Group Advisors LLC grew its position in Entergy by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider's stock worth $26,000 after buying an additional 172 shares in the last quarter. NBT Bank N A NY lifted its position in shares of Entergy by 100.0% during the 4th quarter. NBT Bank N A NY now owns 340 shares of the utilities provider's stock valued at $26,000 after acquiring an additional 170 shares during the period. Legacy Investment Solutions LLC acquired a new stake in shares of Entergy during the 3rd quarter worth $27,000. Duncker Streett & Co. Inc. increased its position in shares of Entergy by 100.0% in the fourth quarter. Duncker Streett & Co. Inc. now owns 358 shares of the utilities provider's stock worth $27,000 after purchasing an additional 179 shares during the period. Finally, Sandy Spring Bank raised its stake in Entergy by 100.0% in the fourth quarter. Sandy Spring Bank now owns 358 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 179 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Entergy Price Performance

ETR stock traded up $0.90 during midday trading on Wednesday, hitting $86.56. The company's stock had a trading volume of 1,776,768 shares, compared to its average volume of 3,595,519. 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 12 month low of $50.19 and a 12 month high of $88.38. The company has a 50 day moving average of $83.45 and a two-hundred day moving average of $76.28. The firm has a market capitalization of $37.29 billion, a price-to-earnings ratio of 35.55, a price-to-earnings-growth ratio of 2.34 and a beta of 0.68.

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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. The firm had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $3.24 billion. Entergy had a return on equity of 10.68% and a net margin of 8.90%. During the same period in the previous year, the firm posted $0.26 earnings per share. On average, analysts expect that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders 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 dividend yield of 2.77%. Entergy's payout ratio is currently 98.77%.

Analyst Upgrades and Downgrades

ETR has been the topic of several recent analyst reports. LADENBURG THALM/SH SH upgraded Entergy from a "neutral" rating to a "buy" rating and set a $86.50 price target on the stock in a research note on Thursday, January 30th. Evercore ISI boosted their target price on Entergy from $75.00 to $86.00 and gave the stock an "in-line" rating in a research note on Wednesday, February 19th. Wells Fargo & Company raised their price target 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. BMO Capital Markets upped their price objective on shares of Entergy from $79.00 to $94.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Finally, KeyCorp lowered shares of Entergy from an "overweight" rating to a "sector weight" rating in a research report 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 given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $84.75.

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.