Resona Asset Management Co. Ltd. Makes New $9.75 Million Investment in Entergy Corporation (NYSE:ETR)

Resona Asset Management Co. Ltd. acquired a new position in shares of Entergy Corporation (NYSE:ETR - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 128,553 shares of the utilities provider's stock, valued at approximately $9,746,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hall Laurie J Trustee boosted its position in Entergy by 50.0% during the 4th quarter. Hall Laurie J Trustee now owns 450 shares of the utilities provider's stock worth $34,000 after buying an additional 150 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Entergy by 0.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 29,336 shares of the utilities provider's stock worth $2,224,000 after purchasing an additional 162 shares during the period. NBT Bank N A NY grew its stake in shares of Entergy by 100.0% in the fourth quarter. NBT Bank N A NY now owns 340 shares of the utilities provider's stock worth $26,000 after purchasing an additional 170 shares during the last quarter. Fortis Group Advisors LLC grew its stake 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 worth $26,000 after purchasing an additional 172 shares during the last quarter. Finally, Duncker Streett & Co. Inc. increased its holdings 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 period. Institutional investors and hedge funds own 88.07% of the company's stock.

Remove Ads

Entergy Stock Up 0.8 %

ETR stock traded up $0.63 during mid-day trading on Friday, reaching $80.91. 817,908 shares of the company traded hands, compared to its average volume of 3,678,147. 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 firm's 50 day moving average price is $83.48 and its 200 day moving average price is $77.15. The stock has a market cap of $34.86 billion, a price-to-earnings ratio of 33.21, a P/E/G ratio of 2.34 and a beta of 0.56. Entergy Corporation has a fifty-two week low of $50.19 and a fifty-two week 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 company 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 in the previous year, the firm earned $0.26 earnings per share. As a group, equities research analysts predict that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Dividend Announcement

The company 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. This represents a $2.40 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date is Friday, May 2nd. Entergy's payout ratio is 98.77%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ETR. UBS Group upped their price target on Entergy from $86.00 to $96.00 and gave the company a "buy" rating in a research report on Friday, March 21st. JPMorgan Chase & Co. raised their price target on shares of Entergy from $87.00 to $98.00 and gave the stock an "overweight" rating in a report on Tuesday, March 11th. Scotiabank cut their price target 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. Morgan Stanley boosted 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, March 20th. Finally, Barclays lifted their target price on Entergy from $79.00 to $88.00 and gave the stock an "overweight" rating in a report on Tuesday. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Entergy currently has an average rating of "Moderate Buy" and a consensus price target of $85.25.

About Entergy

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.