Signature Wealth Management Group Raises Stake in Entergy Corporation (NYSE:ETR)

Signature Wealth Management Group lifted its position in Entergy Corporation (NYSE:ETR) by 83.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 66,845 shares of the utilities provider’s stock after acquiring an additional 30,376 shares during the period. Entergy comprises about 2.0% of Signature Wealth Management Group’s investment portfolio, making the stock its 9th biggest holding. Signature Wealth Management Group’s holdings in Entergy were worth $5,068,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ETR. Fortis Group Advisors LLC lifted its stake 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 in the last quarter. NBT Bank N A NY lifted its position in Entergy by 100.0% during the fourth quarter. NBT Bank N A NY now owns 340 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 170 shares during the period. Legacy Investment Solutions LLC bought a new position in Entergy during the third quarter valued at approximately $27,000. Duncker Streett & Co. Inc. lifted its position in Entergy by 100.0% during the fourth quarter. Duncker Streett & Co. Inc. now owns 358 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 179 shares during the period. Finally, Riverview Trust Co lifted its position in Entergy by 100.0% during the fourth quarter. Riverview Trust Co now owns 364 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 182 shares during the period. Institutional investors own 88.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ETR. StockNews.com upgraded shares of Entergy from a “sell” rating to a “hold” rating in a research report on Sunday, December 29th. BMO Capital Markets increased their price target on shares of Entergy from $79.00 to $94.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Evercore ISI increased their price target 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. Wells Fargo & Company increased their price target 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. Finally, UBS Group increased their price target on shares of Entergy from $72.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $84.11.

Entergy Stock Performance

Shares of NYSE:ETR opened at $85.00 on Friday. Entergy Corporation has a 52 week low of $50.19 and a 52 week high of $88.38. The stock has a market capitalization of $36.59 billion, a P/E ratio of 34.91, a PEG ratio of 2.34 and a beta of 0.68. The firm has a fifty day simple moving average of $82.07 and a two-hundred day simple moving average of $74.21. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 1.81.

Entergy (NYSE:ETR) last released its earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.03. The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $3.24 billion. Entergy had a net margin of 8.90% and a return on equity of 10.68%. During the same quarter last year, the business earned $0.26 EPS. On average, analysts expect that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 10th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.82%. Entergy’s payout ratio is 98.77%.

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.