Forum Financial Management LP Grows Stake in Entergy Corporation (NYSE:ETR)

Forum Financial Management LP raised its stake in shares of Entergy Corporation (NYSE:ETR) by 104.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,300 shares of the utilities provider’s stock after buying an additional 1,688 shares during the quarter. Forum Financial Management LP’s holdings in Entergy were worth $250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of ETR. Wilmington Savings Fund Society FSB purchased a new position in Entergy during the third quarter valued at $175,000. Synovus Financial Corp increased its holdings in shares of Entergy by 78.3% in the third quarter. Synovus Financial Corp now owns 4,269 shares of the utilities provider’s stock worth $562,000 after purchasing an additional 1,875 shares during the last quarter. Peapack Gladstone Financial Corp lifted its position in shares of Entergy by 181.5% in the third quarter. Peapack Gladstone Financial Corp now owns 14,310 shares of the utilities provider’s stock worth $1,884,000 after buying an additional 9,227 shares in the last quarter. Franklin Resources Inc. boosted its stake in Entergy by 53.0% during the third quarter. Franklin Resources Inc. now owns 5,718,859 shares of the utilities provider’s stock valued at $754,318,000 after buying an additional 1,981,611 shares during the last quarter. Finally, DGS Capital Management LLC grew its holdings in Entergy by 17.9% during the 3rd quarter. DGS Capital Management LLC now owns 4,141 shares of the utilities provider’s stock valued at $545,000 after buying an additional 628 shares in the last quarter. Institutional investors own 88.07% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. StockNews.com raised Entergy from a “sell” rating to a “hold” rating in a report on Sunday, December 29th. BMO Capital Markets reduced their target price on shares of Entergy from $94.00 to $89.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. Morgan Stanley increased their price target 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. UBS Group boosted their price objective on Entergy from $86.00 to $96.00 and gave the stock a “buy” rating in a research note on Friday, March 21st. Finally, JPMorgan Chase & Co. upped their price objective on Entergy from $87.00 to $98.00 and gave the company an “overweight” rating in a research report on Tuesday, March 11th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $85.25.

Entergy Trading Up 3.5 %

NYSE ETR opened at $83.31 on Wednesday. Entergy Corporation has a 12 month low of $51.75 and a 12 month high of $88.38. The company’s 50-day moving average price is $83.49 and its 200-day moving average price is $78.07. The stock has a market cap of $35.89 billion, a PE ratio of 34.21, a PEG ratio of 2.34 and a beta of 0.56. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 1.81.

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

Entergy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 2nd will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Friday, May 2nd. 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.