Renaissance Technologies LLC Invests $13.55 Million in Entergy Corporation (NYSE:ETR)

Renaissance Technologies LLC purchased a new stake in Entergy Corporation (NYSE:ETR - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 178,760 shares of the utilities provider's stock, valued at approximately $13,554,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ETR. Fortis Group Advisors LLC lifted its position in shares of 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 acquiring an additional 172 shares in the last quarter. NBT Bank N A NY lifted its holdings in Entergy by 100.0% in the 4th 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 in the last quarter. Duncker Streett & Co. Inc. boosted its stake in Entergy by 100.0% during the 4th 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 last quarter. Sandy Spring Bank grew its holdings in shares of Entergy by 100.0% during the fourth quarter. Sandy Spring Bank now owns 358 shares of the utilities provider's stock worth $27,000 after buying an additional 179 shares in the last quarter. Finally, Riverview Trust Co raised its position in shares of 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 buying an additional 182 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company's stock.

Entergy Stock Up 1.1 %

ETR stock traded up $0.87 during mid-day trading on Friday, hitting $83.11. 3,228,172 shares of the company were exchanged, compared to its average volume of 3,693,272. The company has a market capitalization of $35.80 billion, a PE ratio of 34.13, a price-to-earnings-growth ratio of 2.34 and a beta of 0.56. Entergy Corporation has a twelve month low of $51.75 and a twelve month high of $88.38. The firm has a fifty day simple moving average of $83.54 and a 200 day simple moving average of $77.78. 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 issued its 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. Entergy had a return on equity of 10.68% and a net margin of 8.90%. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same period last year, the company earned $0.26 earnings per share. On average, research analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 2nd will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $2.40 annualized dividend and a yield of 2.89%. Entergy's dividend payout ratio (DPR) is presently 98.77%.

Analysts Set New Price Targets

Several brokerages recently issued reports on ETR. Evercore ISI upped their price objective on shares of Entergy from $75.00 to $86.00 and gave the company an "in-line" rating in a research note on Wednesday, February 19th. Wells Fargo & Company increased their price target on Entergy from $85.00 to $97.00 and gave the company an "overweight" rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. upped their target price on Entergy from $87.00 to $98.00 and gave the company an "overweight" rating in a report on Tuesday, March 11th. LADENBURG THALM/SH SH raised shares of Entergy from a "neutral" rating to a "buy" rating and set a $86.50 price target on the stock in a research report on Thursday, January 30th. Finally, Morgan Stanley raised their price objective on shares of Entergy from $75.00 to $78.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 20th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $85.25.

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.