Snowden Capital Advisors LLC Purchases 2,245 Shares of Entergy Corporation (NYSE:ETR)

Snowden Capital Advisors LLC raised its stake in shares of Entergy Corporation (NYSE:ETR) by 52.9% in the 4th quarter, HoldingsChannel reports. The firm owned 6,486 shares of the utilities provider’s stock after purchasing an additional 2,245 shares during the period. Snowden Capital Advisors LLC’s holdings in Entergy were worth $492,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ETR. Vanguard Group Inc. lifted its position in Entergy by 101.9% during the fourth quarter. Vanguard Group Inc. now owns 52,133,646 shares of the utilities provider’s stock valued at $3,952,773,000 after purchasing an additional 26,312,267 shares during the last quarter. Bank of America Corp DE lifted its position in Entergy by 142.8% during the fourth quarter. Bank of America Corp DE now owns 17,594,747 shares of the utilities provider’s stock valued at $1,334,034,000 after purchasing an additional 10,347,926 shares during the last quarter. FMR LLC lifted its position in Entergy by 90.7% during the fourth quarter. FMR LLC now owns 12,612,407 shares of the utilities provider’s stock valued at $956,273,000 after purchasing an additional 5,998,760 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Entergy by 71.4% during the fourth quarter. Ameriprise Financial Inc. now owns 12,884,421 shares of the utilities provider’s stock valued at $976,895,000 after purchasing an additional 5,368,396 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Entergy by 106.2% during the fourth quarter. Geode Capital Management LLC now owns 10,236,816 shares of the utilities provider’s stock valued at $774,103,000 after purchasing an additional 5,271,559 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ETR has been the subject of several research analyst reports. Morgan Stanley reiterated an “overweight” rating on shares of Entergy in a research report on Wednesday, April 23rd. Wells Fargo & Company lifted their price target on shares of Entergy from $85.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Barclays lifted their price target on shares of Entergy from $88.00 to $91.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. KeyCorp raised shares of Entergy from a “sector weight” rating to an “overweight” rating and set a $85.00 price target on the stock in a research note on Wednesday, May 14th. Finally, Evercore ISI lifted their price target 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. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Entergy currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.04.

Entergy Stock Down 2.1%

Shares of NYSE ETR opened at $82.58 on Thursday. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 1.81. Entergy Corporation has a 52 week low of $52.07 and a 52 week high of $88.38. The firm’s fifty day moving average is $83.02 and its 200 day moving average is $80.27. The company has a market cap of $35.57 billion, a price-to-earnings ratio of 33.91, a PEG ratio of 2.34 and a beta of 0.62.

Entergy (NYSE:ETR) last released its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.22. The business had revenue of $3.02 billion for the quarter, compared to analysts’ expectations 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 business posted $0.54 earnings per share. On average, 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 declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 2nd will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Friday, May 2nd. Entergy’s dividend payout ratio (DPR) is currently 77.92%.

Entergy Company 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.