Godsey & Gibb Inc. Cuts Position in Entergy Corporation (NYSE:ETR)

Godsey & Gibb Inc. decreased its stake in Entergy Corporation (NYSE:ETR) by 2.5% during the 1st quarter, HoldingsChannel reports. The firm owned 346,968 shares of the utilities provider’s stock after selling 8,845 shares during the period. Entergy comprises 2.9% of Godsey & Gibb Inc.’s holdings, making the stock its 4th largest position. Godsey & Gibb Inc.’s holdings in Entergy were worth $29,662,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ETR. Vanguard Group Inc. lifted its holdings 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 purchasing an additional 26,312,267 shares during the last quarter. Bank of America Corp DE raised its stake in Entergy by 142.8% during the 4th quarter. Bank of America Corp DE now owns 17,594,747 shares of the utilities provider’s stock valued at $1,334,034,000 after acquiring an additional 10,347,926 shares in the last quarter. FMR LLC raised its stake in Entergy by 90.7% during the 4th quarter. FMR LLC now owns 12,612,407 shares of the utilities provider’s stock valued at $956,273,000 after acquiring an additional 5,998,760 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Entergy by 71.4% during the 4th quarter. Ameriprise Financial Inc. now owns 12,884,421 shares of the utilities provider’s stock valued at $976,895,000 after acquiring an additional 5,368,396 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Entergy by 106.2% during the 4th quarter. Geode Capital Management LLC now owns 10,236,816 shares of the utilities provider’s stock valued at $774,103,000 after acquiring an additional 5,271,559 shares in the last quarter. Institutional investors own 88.07% of the company’s stock.

Entergy Stock Up 0.4%

ETR opened at $82.11 on Friday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.59 and a current ratio of 0.72. The company has a market capitalization of $35.37 billion, a PE ratio of 33.72, a P/E/G ratio of 2.34 and a beta of 0.62. The stock’s fifty day moving average is $82.54 and its 200-day moving average is $80.98. Entergy Corporation has a one year low of $52.07 and a one year high of $88.38.

Entergy (NYSE:ETR) last issued its earnings results on Tuesday, April 29th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.22. The business had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Entergy had a return on equity of 10.68% and a net margin of 8.90%. During the same period in the previous year, the firm posted $0.54 EPS. On average, equities analysts predict that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 2nd were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date was Friday, May 2nd. Entergy’s payout ratio is 77.92%.

Analysts Set New Price Targets

Several brokerages have weighed in on ETR. UBS Group lifted their target price on Entergy from $86.00 to $96.00 and gave the company a “buy” rating in a research note on Friday, March 21st. KeyCorp raised Entergy from a “sector weight” rating to an “overweight” rating and set a $85.00 target price on the stock in a research note on Wednesday, May 14th. Morgan Stanley reaffirmed an “overweight” rating on shares of Entergy in a research note on Wednesday, April 23rd. Barclays lifted their target price on Entergy from $88.00 to $91.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. lifted their target price on Entergy from $87.00 to $98.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th. Four research analysts have rated the stock with a hold rating, eleven 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 a consensus rating of “Moderate Buy” and a consensus target price of $86.04.

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.