My Legacy Advisors LLC Raises Stock Holdings in Entergy Corporation (NYSE:ETR)

My Legacy Advisors LLC lifted its holdings in Entergy Corporation (NYSE:ETR) by 3.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,448 shares of the utilities provider’s stock after buying an additional 542 shares during the quarter. My Legacy Advisors LLC’s holdings in Entergy were worth $1,406,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of ETR. Fortis Group Advisors LLC raised its holdings in shares of Entergy by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider’s stock worth $26,000 after buying an additional 172 shares during the period. NBT Bank N A NY increased its holdings in Entergy by 100.0% during the 4th quarter. NBT Bank N A NY now owns 340 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 170 shares during the period. Duncker Streett & Co. Inc. increased its holdings 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 during the period. 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. Finally, Glen Eagle Advisors LLC increased its holdings in Entergy by 100.0% during the 4th quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 180 shares during the period. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Entergy Stock Down 0.9%

Entergy stock opened at $82.09 on Wednesday. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.72 and a quick ratio of 0.59. The stock has a market capitalization of $35.36 billion, a price-to-earnings ratio of 33.71, a PEG ratio of 2.34 and a beta of 0.59. Entergy Corporation has a 1-year low of $52.07 and a 1-year high of $88.38. The business has a fifty day moving average price of $82.40 and a 200-day moving average price of $81.11.

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

Entergy Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Morgan Stanley restated an “overweight” rating on shares of Entergy in a report on Wednesday, April 23rd. UBS Group raised their price objective on Entergy from $86.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, March 21st. Evercore ISI raised their price objective on Entergy from $75.00 to $86.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. BMO Capital Markets raised their price objective on Entergy from $89.00 to $93.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Finally, Wells Fargo & Company increased their target price on Entergy from $85.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.