Good Steward Wealth Advisors LLC Buys Shares of 4,220 Entergy Corporation (NYSE:ETR)

Good Steward Wealth Advisors LLC bought a new position in Entergy Corporation (NYSE:ETR) during the 1st quarter, HoldingsChannel.com reports. The fund bought 4,220 shares of the utilities provider’s stock, valued at approximately $361,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Entergy by 101.9% in the 4th quarter. Vanguard Group Inc. now owns 52,133,646 shares of the utilities provider’s stock valued at $3,952,773,000 after buying an additional 26,312,267 shares in the last quarter. Bank of America Corp DE lifted its stake in Entergy by 142.8% in 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 acquiring an additional 10,347,926 shares during the last quarter. FMR LLC grew its position in Entergy by 90.7% in the fourth quarter. FMR LLC now owns 12,612,407 shares of the utilities provider’s stock worth $956,273,000 after acquiring an additional 5,998,760 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Entergy by 71.4% during the 4th quarter. Ameriprise Financial Inc. now owns 12,884,421 shares of the utilities provider’s stock worth $976,895,000 after purchasing an additional 5,368,396 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Entergy by 106.2% during the 4th quarter. Geode Capital Management LLC now owns 10,236,816 shares of the utilities provider’s stock worth $774,103,000 after purchasing an additional 5,271,559 shares during the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Entergy Stock Performance

ETR opened at $80.83 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.82 and a debt-to-equity ratio of 1.91. The stock’s 50 day moving average price is $82.69 and its two-hundred day moving average price is $81.29. The firm has a market capitalization of $34.82 billion, a P/E ratio of 26.24, a price-to-earnings-growth ratio of 2.20 and a beta of 0.59. Entergy Corporation has a 12-month low of $52.07 and a 12-month high of $88.38.

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, beating the consensus estimate of $0.60 by $0.22. The company had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Entergy had a return on equity of 11.43% and a net margin of 11.26%. During the same period in the prior year, the business earned $0.54 earnings per share. On average, equities analysts forecast 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 was paid on Monday, June 2nd. Shareholders of record on Friday, May 2nd were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend was Friday, May 2nd. Entergy’s dividend payout ratio (DPR) is presently 77.92%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ETR shares. UBS Group lifted their price objective on shares of Entergy from $86.00 to $96.00 and gave the company a “buy” rating in a research note on Friday, March 21st. Raymond James Financial began coverage on Entergy in a report on Friday, June 13th. They set a “market perform” rating on the stock. BMO Capital Markets upped their price target on Entergy from $89.00 to $93.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Morgan Stanley lowered their price objective on Entergy from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, Barclays boosted 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. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Entergy has an average rating of “Moderate Buy” and an average target price of $86.25.

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.