SOA Wealth Advisors LLC. Invests $934,000 in Entergy Corporation (NYSE:ETR)

SOA Wealth Advisors LLC. acquired a new position in Entergy Corporation (NYSE:ETR) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 10,931 shares of the utilities provider’s stock, valued at approximately $934,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fortis Group Advisors LLC raised its position in shares of Entergy by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 172 shares during the period. NBT Bank N A NY raised its position in shares of Entergy by 100.0% during the fourth quarter. NBT Bank N A NY now owns 340 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 170 shares during the period. Duncker Streett & Co. Inc. raised its position in shares of Entergy by 100.0% during the fourth quarter. Duncker Streett & Co. Inc. now owns 358 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 179 shares during the period. Sandy Spring Bank raised its position in shares of Entergy by 100.0% during the fourth quarter. Sandy Spring Bank now owns 358 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 179 shares during the period. Finally, Glen Eagle Advisors LLC raised its position in shares of Entergy by 100.0% during the fourth quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 180 shares during the period. Institutional investors own 88.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Barclays boosted their target price on Entergy from $88.00 to $91.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. Evercore ISI boosted their target price on Entergy from $75.00 to $86.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. UBS Group upped their price target on Entergy from $86.00 to $96.00 and gave the company a “buy” rating in a research report on Friday, March 21st. JPMorgan Chase & Co. upped their price target on Entergy from $87.00 to $98.00 and gave the company an “overweight” rating in a research report on Tuesday, March 11th. Finally, BMO Capital Markets upped their price target on Entergy from $89.00 to $93.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Entergy presently has an average rating of “Moderate Buy” and a consensus target price of $86.04.

Entergy Stock Performance

Shares of NYSE ETR opened at $82.11 on Friday. The business’s 50-day moving average price is $82.54 and its two-hundred day moving average price is $81.02. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.72 and a quick ratio of 0.59. Entergy Corporation has a one year low of $52.07 and a one year high of $88.38. The company has a market capitalization of $35.37 billion, a P/E ratio of 33.72, a price-to-earnings-growth ratio of 2.34 and a beta of 0.59.

Entergy (NYSE:ETR) last issued its earnings results on Tuesday, April 29th. The utilities provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.22. The firm had revenue of $3.02 billion for 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 quarter in the previous year, the company posted $0.54 earnings per share. Analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 2nd were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $2.40 annualized dividend and a dividend yield of 2.92%. Entergy’s dividend payout ratio (DPR) is presently 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.