Code Waechter LLC Boosts Stock Position in Entergy Corporation $ETR

Code Waechter LLC boosted its stake in shares of Entergy Corporation (NYSE:ETR) by 22.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 4,154 shares of the utilities provider’s stock after buying an additional 754 shares during the quarter. Code Waechter LLC’s holdings in Entergy were worth $345,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Mesirow Financial Investment Management Inc. boosted its holdings in Entergy by 3.1% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 3,864 shares of the utilities provider’s stock valued at $321,000 after acquiring an additional 116 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in Entergy by 0.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 41,397 shares of the utilities provider’s stock valued at $3,377,000 after acquiring an additional 118 shares during the period. My Legacy Advisors LLC boosted its holdings in Entergy by 0.8% during the 2nd quarter. My Legacy Advisors LLC now owns 16,576 shares of the utilities provider’s stock valued at $1,361,000 after acquiring an additional 128 shares during the period. New Hampshire Trust boosted its holdings in Entergy by 3.6% during the 2nd quarter. New Hampshire Trust now owns 4,103 shares of the utilities provider’s stock valued at $341,000 after acquiring an additional 141 shares during the period. Finally, Mattson Financial Services LLC boosted its holdings in Entergy by 100.0% during the 1st quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 150 shares during the period. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Entergy Trading Up 0.9%

ETR opened at $96.92 on Tuesday. The stock has a market cap of $43.26 billion, a PE ratio of 23.93, a PEG ratio of 2.40 and a beta of 0.62. The company has a quick ratio of 0.52, a current ratio of 0.71 and a debt-to-equity ratio of 1.62. The business has a 50 day moving average of $92.47 and a 200-day moving average of $87.33. Entergy Corporation has a 52 week low of $70.21 and a 52 week high of $98.58.

Entergy (NYSE:ETR) last released its earnings results on Friday, July 8th. The utilities provider reported $0.71 EPS for the quarter. The company had revenue of $2.37 billion during the quarter. Entergy had a return on equity of 11.53% and a net margin of 14.26%. Equities research analysts predict that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Thursday, November 13th will be paid a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Thursday, November 13th. This is a boost from Entergy’s previous quarterly dividend of $0.60. Entergy’s dividend payout ratio (DPR) is 59.26%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ETR shares. JPMorgan Chase & Co. increased their target price on Entergy from $102.00 to $103.00 and gave the company an “overweight” rating in a report on Thursday, August 21st. Barclays set a $100.00 price objective on Entergy and gave the stock an “overweight” rating in a report on Monday, October 6th. Morgan Stanley set a $93.00 price objective on Entergy and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Mizuho increased their price objective on Entergy from $97.00 to $104.00 and gave the stock an “outperform” rating in a report on Monday, October 27th. Finally, KeyCorp reiterated an “overweight” rating and issued a $106.00 price objective (up previously from $96.00) on shares of Entergy in a report on Wednesday, October 15th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $102.37.

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.