Cresset Asset Management LLC Trims Position in Entergy Corporation (NYSE:ETR)

Cresset Asset Management LLC lessened its holdings in shares of Entergy Corporation (NYSE:ETR) by 24.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,893 shares of the utilities provider’s stock after selling 5,212 shares during the quarter. Cresset Asset Management LLC’s holdings in Entergy were worth $1,205,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Entergy by 101.9% in the 4th quarter. Vanguard Group Inc. now owns 52,133,646 shares of the utilities provider’s stock worth $3,952,773,000 after buying an additional 26,312,267 shares during the period. Bank of America Corp DE raised its position in shares of Entergy by 142.8% in the 4th quarter. Bank of America Corp DE now owns 17,594,747 shares of the utilities provider’s stock worth $1,334,034,000 after buying an additional 10,347,926 shares during the period. Ameriprise Financial Inc. raised its position in shares of Entergy by 71.4% in the 4th quarter. Ameriprise Financial Inc. now owns 12,884,421 shares of the utilities provider’s stock worth $976,895,000 after buying an additional 5,368,396 shares during the period. FMR LLC raised its position in shares of Entergy by 90.7% in the 4th quarter. FMR LLC now owns 12,612,407 shares of the utilities provider’s stock worth $956,273,000 after buying an additional 5,998,760 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Entergy by 66.7% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,042,159 shares of the utilities provider’s stock worth $837,216,000 after buying an additional 4,418,528 shares during the period. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. LADENBURG THALM/SH SH raised Entergy from a “neutral” rating to a “buy” rating and set a $86.50 target price on the stock in a research report on Thursday, January 30th. Morgan Stanley reaffirmed an “overweight” rating on shares of Entergy in a research report on Wednesday, April 23rd. Evercore ISI increased their price target on Entergy from $75.00 to $86.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Barclays increased their price target on Entergy from $88.00 to $91.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. Finally, UBS Group increased their price target on Entergy from $86.00 to $96.00 and gave the company a “buy” rating in a report on Friday, March 21st. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.75.

Entergy Stock Down 0.5%

Shares of Entergy stock opened at $82.86 on Monday. The business has a 50-day moving average of $83.07 and a 200-day moving average of $79.74. 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 company has a market capitalization of $35.69 billion, a PE ratio of 34.03, a P/E/G ratio of 2.34 and a beta of 0.62. Entergy Corporation has a 1-year low of $52.07 and a 1-year high of $88.38.

Entergy (NYSE:ETR) last announced its earnings results on Tuesday, April 29th. The utilities provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.22. The company had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $3.13 billion. Entergy had a return on equity of 10.68% and a net margin of 8.90%. During the same period last year, the firm earned $0.54 earnings per share. As a group, equities analysts forecast that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 2.90%. Entergy’s dividend payout ratio (DPR) is 77.92%.

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.