SOA Wealth Advisors LLC. Makes New $934,000 Investment in Entergy Corporation (NYSE:ETR)

SOA Wealth Advisors LLC. purchased a new position in Entergy Corporation (NYSE:ETR) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,931 shares of the utilities provider’s stock, valued at approximately $934,000.

A number of other hedge funds have also recently added to or reduced their stakes in ETR. Gen Wealth Partners Inc increased its holdings in Entergy by 27.5% during the 4th quarter. Gen Wealth Partners Inc now owns 668 shares of the utilities provider’s stock worth $51,000 after purchasing an additional 144 shares during the last quarter. NBT Bank N A NY increased its holdings in shares of Entergy by 100.0% in the 4th 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 during the last quarter. Fortis Group Advisors LLC increased its holdings in shares of Entergy by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 172 shares during the last quarter. Legacy Investment Solutions LLC increased its holdings in shares of Entergy by 85.1% in the 4th quarter. Legacy Investment Solutions LLC now owns 374 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 172 shares during the last quarter. Finally, Duncker Streett & Co. Inc. increased its holdings in shares of Entergy by 100.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 358 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 179 shares during the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

Entergy Trading Up 0.4%

Shares of ETR stock opened at $82.11 on Friday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.59 and a current ratio of 0.72. Entergy Corporation has a 1 year low of $52.07 and a 1 year high of $88.38. The stock has a fifty day moving average of $82.54 and a two-hundred day moving average of $81.02. The firm has a market capitalization of $35.37 billion, a PE ratio of 33.72, a price-to-earnings-growth ratio of 2.34 and a beta of 0.59.

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

Entergy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 2nd were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend was Friday, May 2nd. Entergy’s dividend payout ratio is presently 77.92%.

Analyst Upgrades and Downgrades

ETR has been the subject of a number of research analyst reports. Wells Fargo & Company boosted their price target on Entergy from $85.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Evercore ISI boosted their price target on Entergy from $75.00 to $86.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Morgan Stanley reiterated an “overweight” rating on shares of Entergy in a report on Wednesday, April 23rd. KeyCorp upgraded Entergy from a “sector weight” rating to an “overweight” rating and set a $85.00 price target for the company in a report on Wednesday, May 14th. Finally, BMO Capital Markets boosted their price objective on Entergy from $89.00 to $93.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. 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 company. Based on data from MarketBeat, Entergy presently has a consensus rating of “Moderate Buy” and an average target price of $86.04.

About Entergy

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.