Wells Fargo & Company MN Grows Position in Entergy Corporation (NYSE:ETR)

Wells Fargo & Company MN raised its position in Entergy Corporation (NYSE:ETR - Free Report) by 50.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,347,336 shares of the utilities provider's stock after acquiring an additional 450,171 shares during the quarter. Wells Fargo & Company MN owned approximately 0.31% of Entergy worth $102,155,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ETR. IHT Wealth Management LLC purchased a new position in shares of Entergy during the third quarter valued at about $226,000. Quantinno Capital Management LP increased its stake 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 acquiring an additional 5,057 shares during the last quarter. Stifel Financial Corp raised its position in Entergy by 8.2% during the third quarter. Stifel Financial Corp now owns 164,211 shares of the utilities provider's stock valued at $21,612,000 after purchasing an additional 12,383 shares during the period. EP Wealth Advisors LLC bought a new stake in shares of Entergy in the 3rd quarter valued at approximately $625,000. Finally, XTX Topco Ltd purchased a new position in Entergy during the third quarter worth $958,000. 88.07% of the stock is currently owned by institutional investors.

Entergy Stock Performance

NYSE:ETR traded up $1.43 during midday trading on Friday, hitting $81.71. The company's stock had a trading volume of 3,384,251 shares, compared to its average volume of 3,698,418. Entergy Corporation has a fifty-two week low of $50.19 and a fifty-two week high of $88.38. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.72 and a quick ratio of 0.59. The firm has a market cap of $35.20 billion, a P/E ratio of 33.55, a P/E/G ratio of 2.34 and a beta of 0.56. The firm's 50 day moving average is $83.48 and its 200-day moving average is $77.35.

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Entergy (NYSE:ETR - Get Free Report) last issued its earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.03. Entergy had a net margin of 8.90% and a return on equity of 10.68%. The firm had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $3.24 billion. During the same quarter last year, the company posted $0.26 earnings per share. Equities analysts anticipate 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 given 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 2.94%. Entergy's payout ratio is presently 98.77%.

Analysts Set New Price Targets

Several brokerages recently commented on ETR. Morgan Stanley upped their price target on shares of Entergy from $75.00 to $78.00 and gave the company an "equal weight" rating in a report on Thursday, March 20th. 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 research note on Tuesday, March 11th. StockNews.com raised shares of Entergy from a "sell" rating to a "hold" rating in a research report on Sunday, December 29th. Scotiabank decreased their target price on Entergy from $165.00 to $82.00 and set a "sector perform" rating for the company in a research report on Tuesday, January 7th. Finally, BMO Capital Markets dropped their price target on Entergy from $94.00 to $89.00 and set an "outperform" rating on the stock in a research report on Friday. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $85.25.

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.