Magellan Asset Management Ltd raised its position in Entergy Corporation (NYSE:ETR – Free Report) by 5.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 370,955 shares of the utilities provider’s stock after purchasing an additional 17,617 shares during the quarter. Magellan Asset Management Ltd owned about 0.08% of Entergy worth $34,287,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. United Community Bank lifted its holdings in shares of Entergy by 806.7% in the 4th quarter. United Community Bank now owns 272 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 242 shares during the last quarter. Washington Trust Advisors Inc. increased its stake in Entergy by 119.4% during the 4th quarter. Washington Trust Advisors Inc. now owns 283 shares of the utilities provider’s stock worth $26,000 after buying an additional 154 shares during the period. Physician Wealth Advisors Inc. increased its stake in Entergy by 56.9% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 317 shares of the utilities provider’s stock worth $30,000 after buying an additional 115 shares during the period. Hantz Financial Services Inc. increased its position in shares of Entergy by 150.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 323 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 194 shares during the last quarter. Finally, Valley National Advisers Inc. increased its position in shares of Entergy by 306.0% in the 4th quarter. Valley National Advisers Inc. now owns 341 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 257 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.
Entergy Stock Performance
NYSE:ETR opened at $109.40 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.73 and a debt-to-equity ratio of 1.80. The firm has a 50-day moving average price of $112.31 and a two-hundred day moving average price of $102.81. Entergy Corporation has a twelve month low of $80.11 and a twelve month high of $118.44. The company has a market capitalization of $50.09 billion, a P/E ratio of 27.91, a price-to-earnings-growth ratio of 1.85 and a beta of 0.50.
Entergy Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 1st were issued a dividend of $0.64 per share. The ex-dividend date was Friday, May 1st. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.3%. Entergy’s payout ratio is 65.31%.
Analyst Ratings Changes
A number of brokerages have commented on ETR. Scotiabank reissued an “outperform” rating and issued a $129.00 price objective (up from $114.00) on shares of Entergy in a research report on Thursday, April 30th. Evercore set a $115.00 target price on shares of Entergy in a report on Monday, May 4th. Weiss Ratings upgraded shares of Entergy from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, May 14th. Citigroup reiterated a “neutral” rating and set a $121.00 price target (up from $116.00) on shares of Entergy in a research note on Tuesday, May 5th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $131.00 target price (up from $114.00) on shares of Entergy in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Entergy has a consensus rating of “Moderate Buy” and a consensus target price of $118.58.
Check Out Our Latest Stock Analysis on Entergy
Entergy Company Profile
Entergy Corporation (NYSE:ETR) is an integrated energy company headquartered in New Orleans, Louisiana, that generates, transmits and distributes electricity. The company’s operations combine regulated utility services with competitive power production, supplying retail electricity to residential, commercial and industrial customers while also participating in wholesale energy markets. Entergy’s generation fleet includes nuclear, natural gas, hydropower and other resources, and it operates a network of transmission and distribution assets to deliver power to end users.
Entergy conducts its regulated utility business through state-based operating subsidiaries that serve customers across parts of Arkansas, Louisiana, Mississippi and southeast Texas.
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