Tounjian Advisory Partners LLC Purchases New Stake in Entergy Corporation (NYSE:ETR)

Tounjian Advisory Partners LLC acquired a new position in Entergy Corporation (NYSE:ETR) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,650 shares of the utilities provider’s stock, valued at approximately $1,509,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ETR. Fortis Group Advisors LLC increased its stake in Entergy by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 172 shares in the last quarter. NBT Bank N A NY grew its holdings in Entergy by 100.0% in the fourth quarter. NBT Bank N A NY now owns 340 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 170 shares during the last quarter. Duncker Streett & Co. Inc. increased its position in shares of Entergy by 100.0% in the fourth quarter. Duncker Streett & Co. Inc. now owns 358 shares of the utilities provider’s stock valued at $27,000 after buying an additional 179 shares in the last quarter. Sandy Spring Bank raised its stake in shares of Entergy by 100.0% during the 4th quarter. Sandy Spring Bank now owns 358 shares of the utilities provider’s stock worth $27,000 after buying an additional 179 shares during the last quarter. Finally, Glen Eagle Advisors LLC boosted its position in shares of Entergy by 100.0% in the 4th quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider’s stock worth $27,000 after buying an additional 180 shares in the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Entergy Stock Up 0.4%

ETR stock opened at $82.11 on Monday. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 1.81. The firm has a 50 day simple moving average of $82.54 and a 200-day simple moving average of $81.06. The company has a market capitalization of $35.37 billion, a P/E ratio of 33.72, a PEG ratio of 2.34 and a beta of 0.59. Entergy Corporation has a twelve month low of $52.07 and a twelve month high of $88.38.

Entergy (NYSE:ETR) last released its earnings results on Tuesday, April 29th. The utilities provider reported $0.82 earnings per share for the quarter, topping 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 net margin of 8.90% and a return on equity of 10.68%. During the same quarter in the previous year, the firm earned $0.54 EPS. On average, equities research analysts predict 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 was paid on Monday, June 2nd. Stockholders of record on Friday, May 2nd were given a $0.60 dividend. The ex-dividend date was Friday, May 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.92%. Entergy’s payout ratio is currently 77.92%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Evercore ISI increased their target price on Entergy from $75.00 to $86.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. BMO Capital Markets lifted their price objective on Entergy from $89.00 to $93.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. Morgan Stanley reissued an “overweight” rating on shares of Entergy in a research note on Wednesday, April 23rd. KeyCorp upgraded Entergy from a “sector weight” rating to an “overweight” rating and set a $85.00 price target for the company in a report on Wednesday, May 14th. Finally, UBS Group upped their price target on shares of Entergy from $86.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday, March 21st. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Entergy currently has a consensus rating of “Moderate Buy” and an average price target 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.