Russell Investments Group Ltd. Increases Stock Position in Entergy Corporation (NYSE:ETR)

Russell Investments Group Ltd. raised its position in shares of Entergy Corporation (NYSE:ETR - Free Report) by 93.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,080,889 shares of the utilities provider's stock after acquiring an additional 520,921 shares during the period. Russell Investments Group Ltd. owned approximately 0.25% of Entergy worth $81,928,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ETR. Fortis Group Advisors LLC grew its holdings in Entergy by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider's stock worth $26,000 after acquiring an additional 172 shares in the last quarter. NBT Bank N A NY lifted its position in Entergy by 100.0% during the 4th quarter. NBT Bank N A NY now owns 340 shares of the utilities provider's stock worth $26,000 after acquiring an additional 170 shares during the period. Legacy Investment Solutions LLC acquired a new stake in Entergy during the 3rd quarter valued at approximately $27,000. Duncker Streett & Co. Inc. boosted 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 last quarter. Finally, Sandy Spring Bank increased its holdings in shares of 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 in the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ETR. Morgan Stanley raised their target price on Entergy from $75.00 to $78.00 and gave the company an "equal weight" rating in a research report on Thursday, March 20th. StockNews.com raised Entergy from a "sell" rating to a "hold" rating in a research note on Sunday, December 29th. Evercore ISI upped their price objective on Entergy from $75.00 to $86.00 and gave the stock an "in-line" rating in a research report on Wednesday, February 19th. Barclays lifted their price target on Entergy from $79.00 to $88.00 and gave the stock an "overweight" rating in a report on Tuesday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Entergy from $87.00 to $98.00 and gave the company an "overweight" rating in a research note on Tuesday, March 11th. Six 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. According to data from MarketBeat.com, Entergy has a consensus rating of "Moderate Buy" and a consensus price target of $85.25.

Entergy Stock Performance

NYSE:ETR traded up $0.85 during mid-day trading on Friday, reaching $81.13. 981,126 shares of the company's stock were exchanged, compared to its average volume of 3,678,756. The firm has a market capitalization of $34.95 billion, a PE ratio of 33.32, a price-to-earnings-growth ratio of 2.34 and a beta of 0.56. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.59 and a current ratio of 0.72. Entergy Corporation has a one year low of $50.19 and a one year high of $88.38. The business's fifty day simple moving average is $83.48 and its two-hundred day simple moving average is $77.15.

Entergy (NYSE:ETR - Get Free Report) last released 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 analyst estimates 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 previous year, the business earned $0.26 earnings per share. Analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 2nd will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $2.40 annualized dividend and a yield of 2.96%. Entergy's payout ratio is 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.