Wealth Advisors of Tampa Bay LLC Buys 34,734 Shares of Entergy Corporation (NYSE:ETR)

Wealth Advisors of Tampa Bay LLC lifted its position in shares of Entergy Corporation (NYSE:ETR - Free Report) by 97.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,494 shares of the utilities provider's stock after purchasing an additional 34,734 shares during the period. Entergy accounts for approximately 2.3% of Wealth Advisors of Tampa Bay LLC's investment portfolio, making the stock its 12th biggest holding. Wealth Advisors of Tampa Bay LLC's holdings in Entergy were worth $5,345,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. D.A. Davidson & CO. grew its position in Entergy by 7.9% during the third quarter. D.A. Davidson & CO. now owns 2,459 shares of the utilities provider's stock worth $324,000 after buying an additional 181 shares in the last quarter. Hilltop Holdings Inc. grew its holdings in shares of Entergy by 18.3% during the 3rd quarter. Hilltop Holdings Inc. now owns 3,044 shares of the utilities provider's stock worth $401,000 after purchasing an additional 471 shares in the last quarter. Investment Management Corp of Ontario increased its position in shares of Entergy by 48.2% in the third quarter. Investment Management Corp of Ontario now owns 7,069 shares of the utilities provider's stock worth $930,000 after purchasing an additional 2,300 shares during the period. IHT Wealth Management LLC acquired a new position in Entergy in the third quarter valued at about $226,000. Finally, Quantinno Capital Management LP lifted its position in Entergy by 19.1% during the third quarter. Quantinno Capital Management LP now owns 31,538 shares of the utilities provider's stock worth $4,151,000 after purchasing an additional 5,057 shares during the period. 88.07% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

ETR has been the topic of several research analyst reports. Wells Fargo & Company raised their price objective on Entergy from $85.00 to $97.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. LADENBURG THALM/SH SH raised Entergy from a "neutral" rating to a "buy" rating and set a $86.50 target price for the company in a research report on Thursday, January 30th. Barclays upped their price target on Entergy from $79.00 to $88.00 and gave the company an "overweight" rating in a research report on Tuesday. StockNews.com upgraded Entergy from a "sell" rating to a "hold" rating in a research report on Sunday, December 29th. Finally, UBS Group upped their target price on Entergy from $86.00 to $96.00 and gave the company a "buy" rating in a report on Friday, March 21st. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Entergy has an average rating of "Moderate Buy" and a consensus target price of $85.61.

Entergy Stock Up 0.9 %

ETR stock traded up $0.72 during midday trading on Wednesday, reaching $79.73. 2,993,551 shares of the company's stock traded hands, compared to its average volume of 3,653,548. Entergy Corporation has a 52 week low of $50.19 and a 52 week high of $88.38. The company has a market cap of $34.35 billion, a price-to-earnings ratio of 32.79, a P/E/G ratio of 2.34 and a beta of 0.56. The firm's fifty day moving average price is $83.55 and its 200-day moving average price is $76.91. 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 (NYSE:ETR - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.03. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate 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 business earned $0.26 EPS. As a group, sell-side analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 2nd will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, May 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 3.01%. Entergy's dividend payout ratio (DPR) is currently 98.77%.

Entergy Company 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.