iA Global Asset Management Inc. Boosts Holdings in Entergy Corporation (NYSE:ETR)

iA Global Asset Management Inc. boosted its position in shares of Entergy Corporation (NYSE:ETR) by 910.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 89,563 shares of the utilities provider’s stock after buying an additional 80,698 shares during the quarter. iA Global Asset Management Inc.’s holdings in Entergy were worth $6,791,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of ETR. OneDigital Investment Advisors LLC boosted its stake in Entergy by 2.1% during the third quarter. OneDigital Investment Advisors LLC now owns 3,427 shares of the utilities provider’s stock worth $451,000 after buying an additional 69 shares during the period. LMR Partners LLP purchased a new position in Entergy during the third quarter worth $329,000. Pathstone Holdings LLC boosted its stake in Entergy by 6.9% during the third quarter. Pathstone Holdings LLC now owns 16,862 shares of the utilities provider’s stock worth $2,219,000 after buying an additional 1,081 shares during the period. Caprock Group LLC boosted its stake in Entergy by 10.1% during the third quarter. Caprock Group LLC now owns 5,281 shares of the utilities provider’s stock worth $695,000 after buying an additional 485 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Entergy during the third quarter worth $564,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on ETR. LADENBURG THALM/SH SH raised shares of Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price objective for the company in a research note on Thursday, January 30th. JPMorgan Chase & Co. boosted their target price on shares of Entergy from $87.00 to $98.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th. StockNews.com raised shares of Entergy from a “sell” rating to a “hold” rating in a research note on Sunday, December 29th. Morgan Stanley boosted their target price on shares of Entergy from $75.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, UBS Group boosted their target price on shares of Entergy from $72.00 to $90.00 and gave the company a “buy” rating in a research note 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’s stock. According to data from MarketBeat, Entergy has an average rating of “Moderate Buy” and a consensus price target of $84.32.

Entergy Stock Performance

Shares of Entergy stock opened at $84.62 on Friday. The company has a market capitalization of $36.42 billion, a PE ratio of 34.75, a P/E/G ratio of 2.34 and a beta of 0.68. 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 company has a 50-day simple moving average of $82.75 and a two-hundred day simple moving average of $74.80. Entergy Corporation has a one year low of $50.19 and a one year high of $88.38.

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

Entergy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 10th were issued a $0.60 dividend. The ex-dividend date was Monday, February 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.84%. Entergy’s dividend payout ratio is presently 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.