Peapack Gladstone Financial Corp boosted its holdings in Entergy Corporation (NYSE:ETR - Free Report) by 99.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,604 shares of the utilities provider's stock after buying an additional 14,294 shares during the quarter. Peapack Gladstone Financial Corp's holdings in Entergy were worth $2,169,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. Fortis Group Advisors LLC raised its holdings in shares of Entergy by 100.0% during 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. NBT Bank N A NY grew its stake 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 purchased a new stake in shares of Entergy in the third quarter worth $27,000. Duncker Streett & Co. Inc. increased its stake in Entergy by 100.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 358 shares of the utilities provider's stock worth $27,000 after buying an additional 179 shares in the last quarter. Finally, Sandy Spring Bank raised its stake in Entergy by 100.0% during the 4th quarter. Sandy Spring Bank now owns 358 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 179 shares during the period. Hedge funds and other institutional investors own 88.07% of the company's stock.
Entergy Stock Up 1.8 %
Shares of NYSE ETR traded up $1.43 during midday trading on Friday, reaching $81.71. 3,384,251 shares of the company's 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 P/E/G ratio of 2.34 and a beta of 0.56. The stock's 50 day simple moving average is $83.48 and its 200-day simple moving average is $77.35. 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 one year low of $50.19 and a one year high of $88.38.
Entergy (NYSE:ETR - Get Free Report) last announced its earnings results 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. The business 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 quarter last year, the firm earned $0.26 EPS. On average, analysts predict that Entergy Corporation will post 3.88 EPS for the current fiscal year.
Entergy Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 2nd will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 2.94%. Entergy's dividend payout ratio is presently 98.77%.
Wall Street Analysts Forecast Growth
ETR has been the topic of several research analyst reports. UBS Group boosted their price target on shares of Entergy from $86.00 to $96.00 and gave the stock a "buy" rating in a research note on Friday, March 21st. Scotiabank cut their price objective on shares of Entergy from $165.00 to $82.00 and set a "sector perform" rating on the stock in a research report on Tuesday, January 7th. BMO Capital Markets reduced their price target on Entergy from $94.00 to $89.00 and set an "outperform" rating on the stock in a report on Friday. Barclays boosted their price objective on Entergy from $79.00 to $88.00 and gave the company an "overweight" rating in a report on Tuesday, April 8th. 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's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $85.25.
Check Out Our Latest Research Report on ETR
Entergy Profile
(
Free Report)
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.
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