Entergy Corporation (NYSE:ETR) Shares Bought by Princeton Global Asset Management LLC

Princeton Global Asset Management LLC lifted its position in shares of Entergy Corporation (NYSE:ETR) by 6.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 111,470 shares of the utilities provider’s stock after acquiring an additional 6,884 shares during the period. Entergy makes up approximately 1.9% of Princeton Global Asset Management LLC’s investment portfolio, making the stock its 12th largest position. Princeton Global Asset Management LLC’s holdings in Entergy were worth $9,530,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in ETR. AAFMAA Wealth Management & Trust LLC acquired a new position in shares of Entergy in the first quarter worth $1,453,000. Gateway Investment Advisers LLC increased its position in Entergy by 22.7% during the first quarter. Gateway Investment Advisers LLC now owns 3,481 shares of the utilities provider’s stock worth $298,000 after purchasing an additional 645 shares during the last quarter. Alliance Wealth Advisors LLC raised its position in shares of Entergy by 8.3% in the 1st quarter. Alliance Wealth Advisors LLC now owns 5,569 shares of the utilities provider’s stock worth $476,000 after buying an additional 429 shares during the period. Eagle Rock Investment Company LLC raised its holdings in shares of Entergy by 8.9% in the 1st quarter. Eagle Rock Investment Company LLC now owns 4,303 shares of the utilities provider’s stock worth $368,000 after purchasing an additional 353 shares during the period. Finally, Curat Global LLC purchased a new position in Entergy in the first quarter valued at approximately $130,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ETR has been the topic of several research reports. Evercore ISI raised their price objective on Entergy from $75.00 to $86.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. KeyCorp upgraded shares of Entergy from a “sector weight” rating to an “overweight” rating and set a $85.00 price objective on the stock in a research note on Wednesday, May 14th. Morgan Stanley reaffirmed an “overweight” rating on shares of Entergy in a report on Wednesday, April 23rd. Barclays lifted their price target on shares of Entergy from $88.00 to $91.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. boosted their price objective on Entergy from $87.00 to $98.00 and gave the company an “overweight” rating in a research report on Tuesday, March 11th. 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.04.

Entergy Stock Performance

Shares of NYSE ETR opened at $82.11 on Friday. The stock has a fifty day moving average price of $82.54 and a two-hundred day moving average price of $80.98. Entergy Corporation has a 1 year low of $52.07 and a 1 year high of $88.38. The firm has a market cap of $35.37 billion, a P/E ratio of 33.72, a PEG ratio of 2.34 and a beta of 0.62. 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 (NYSE:ETR) last issued its earnings results 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 net margin of 8.90% and a return on equity of 10.68%. During the same period last year, the firm posted $0.54 earnings per share. Research analysts forecast that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Announces Dividend

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

Entergy Profile

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.