Davis Investment Partners LLC Acquires New Holdings in Entergy Corporation (NYSE:ETR)

Davis Investment Partners LLC acquired a new stake in Entergy Corporation (NYSE:ETR) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,044 shares of the utilities provider’s stock, valued at approximately $582,000.

A number of other large investors have also recently added to or reduced their stakes in ETR. Fortis Group Advisors LLC grew its stake in 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. NBT Bank N A NY grew its stake in 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. Duncker Streett & Co. Inc. grew its stake in 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. Sandy Spring Bank grew its stake in Entergy by 100.0% in the 4th quarter. Sandy Spring Bank now owns 358 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 179 shares during the last quarter. Finally, Glen Eagle Advisors LLC grew its stake in Entergy by 100.0% in the 4th quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 180 shares during the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

Entergy Price Performance

ETR opened at $82.07 on Thursday. Entergy Corporation has a 1 year low of $52.07 and a 1 year high of $88.38. The company’s 50 day simple moving average is $82.46 and its 200 day simple moving average is $81.12. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.59 and a current ratio of 0.72. The stock has a market capitalization of $35.36 billion, a PE ratio of 33.71, a P/E/G ratio of 2.34 and a beta of 0.59.

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

Entergy Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ETR shares. Morgan Stanley restated an “overweight” rating on shares of Entergy in a research report on Wednesday, April 23rd. BMO Capital Markets raised 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. Wells Fargo & Company raised their target price on shares of Entergy from $85.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. UBS Group raised their target price on shares of Entergy from $86.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday, March 21st. Finally, Evercore ISI raised their target price on shares of Entergy from $75.00 to $86.00 and gave the stock an “in-line” 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 company 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.