Focus Partners Wealth Acquires 9,070 Shares of Entergy Corporation (NYSE:ETR)

Focus Partners Wealth increased its holdings in shares of Entergy Corporation (NYSE:ETR) by 199.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,611 shares of the utilities provider’s stock after buying an additional 9,070 shares during the quarter. Focus Partners Wealth’s holdings in Entergy were worth $1,032,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in shares of Entergy by 60.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,589,727 shares of the utilities provider’s stock valued at $472,444,000 after purchasing an additional 1,354,355 shares during the last quarter. AdvisorNet Financial Inc boosted its position in Entergy by 91.4% in the fourth quarter. AdvisorNet Financial Inc now owns 1,516 shares of the utilities provider’s stock valued at $115,000 after buying an additional 724 shares in the last quarter. Gateway Investment Advisers LLC grew its stake in shares of Entergy by 79.7% during the fourth quarter. Gateway Investment Advisers LLC now owns 2,836 shares of the utilities provider’s stock worth $215,000 after buying an additional 1,258 shares during the last quarter. Carnegie Investment Counsel increased its holdings in shares of Entergy by 100.0% during the fourth quarter. Carnegie Investment Counsel now owns 13,550 shares of the utilities provider’s stock worth $1,027,000 after buying an additional 6,775 shares in the last quarter. Finally, KMG Fiduciary Partners LLC lifted its stake in shares of Entergy by 99.3% in the 4th quarter. KMG Fiduciary Partners LLC now owns 5,018 shares of the utilities provider’s stock valued at $380,000 after acquiring an additional 2,500 shares during the last quarter. Institutional investors own 88.07% of the company’s stock.

Entergy Stock Performance

ETR stock opened at $83.10 on Friday. The firm has a market cap of $35.80 billion, a PE ratio of 34.13, a price-to-earnings-growth ratio of 2.34 and a beta of 0.62. 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 stock has a 50-day moving average price of $83.03 and a 200-day moving average price of $80.14. Entergy Corporation has a 1-year low of $52.07 and a 1-year high of $88.38.

Entergy (NYSE:ETR) last released its earnings results on Tuesday, April 29th. The utilities provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.60 by $0.22. Entergy had a return on equity of 10.68% and a net margin of 8.90%. The business had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter last year, the firm posted $0.54 earnings per share. As a group, equities research analysts expect that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 2nd will be given a dividend of $0.60 per share. The ex-dividend date is Friday, May 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.89%. Entergy’s payout ratio is presently 77.92%.

Analyst Ratings Changes

A number of brokerages have issued reports on ETR. Barclays upped their target price on Entergy from $88.00 to $91.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Wells Fargo & Company raised their price objective on shares of Entergy from $85.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. BMO Capital Markets lifted their target price on shares of Entergy from $89.00 to $93.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. UBS Group upped their price target on shares of Entergy from $86.00 to $96.00 and gave the company a “buy” rating in a research report on Friday, March 21st. Finally, KeyCorp upgraded shares of Entergy from a “sector weight” rating to an “overweight” rating and set a $85.00 price target on the stock in a report on Wednesday. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.