Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stock Position in Entergy Corporation (NYSE:ETR)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Entergy Corporation (NYSE:ETR) by 122.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 704,358 shares of the utilities provider’s stock after acquiring an additional 387,985 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.16% of Entergy worth $54,010,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new position in shares of Entergy in the third quarter valued at approximately $27,000. NBT Bank N A NY raised its stake in shares of 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 acquiring an additional 170 shares in the last quarter. Fortis Group Advisors LLC boosted its holdings in Entergy by 100.0% in the fourth 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 during the period. Duncker Streett & Co. Inc. grew its stake in Entergy by 100.0% during the 4th quarter. Duncker Streett & Co. Inc. now owns 358 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 179 shares in the last quarter. Finally, Sandy Spring Bank increased its holdings in 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 purchasing an additional 179 shares during the period. 88.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Wells Fargo & Company raised their target price on shares of Entergy from $85.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Morgan Stanley raised their price objective on shares of Entergy from $75.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. Evercore ISI boosted their target price on shares of Entergy from $75.00 to $86.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. UBS Group raised their price target on Entergy from $86.00 to $96.00 and gave the company a “buy” rating in a research note on Friday, March 21st. Finally, Scotiabank lowered their price objective on Entergy from $165.00 to $82.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 7th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $84.75.

Entergy Stock Performance

NYSE:ETR opened at $84.38 on Friday. The firm has a market cap of $36.35 billion, a price-to-earnings ratio of 34.65, a price-to-earnings-growth ratio of 2.34 and a beta of 0.68. 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 1-year low of $50.19 and a 1-year high of $88.38. The firm’s fifty day moving average price is $83.34 and its 200 day moving average price is $75.75.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $3.24 billion. Entergy had a net margin of 8.90% and a return on equity of 10.68%. During the same period in the previous year, the business posted $0.26 earnings per share. On average, sell-side analysts expect that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 10th were paid a $0.60 dividend. The ex-dividend date was Monday, February 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.84%. Entergy’s dividend payout ratio (DPR) is presently 98.77%.

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.