Commerce Bank Boosts Holdings in Entergy Corporation (NYSE:ETR)

Commerce Bank lifted its position in shares of Entergy Corporation (NYSE:ETR) by 100.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,822 shares of the utilities provider’s stock after buying an additional 13,435 shares during the period. Commerce Bank’s holdings in Entergy were worth $2,034,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ETR. Legacy Financial Advisors Inc. lifted its stake in shares of Entergy by 60.0% in the 4th quarter. Legacy Financial Advisors Inc. now owns 16,077 shares of the utilities provider’s stock valued at $1,219,000 after purchasing an additional 6,028 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Entergy during the fourth quarter valued at about $4,393,000. Flagship Harbor Advisors LLC raised its stake in shares of Entergy by 74.3% in the 4th quarter. Flagship Harbor Advisors LLC now owns 7,959 shares of the utilities provider’s stock valued at $603,000 after acquiring an additional 3,393 shares during the period. LaFleur & Godfrey LLC purchased a new position in shares of Entergy during the 4th quarter worth approximately $217,000. Finally, Avior Wealth Management LLC raised its position in Entergy by 324.3% in the fourth quarter. Avior Wealth Management LLC now owns 734 shares of the utilities provider’s stock valued at $56,000 after purchasing an additional 561 shares during the period. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Wall Street Analysts Forecast Growth

ETR has been the topic of several research analyst reports. Barclays boosted their price objective on Entergy from $79.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, April 8th. StockNews.com upgraded shares of Entergy from a “sell” rating to a “hold” rating in a report on Sunday, December 29th. Morgan Stanley increased their target price on shares of Entergy from $75.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, March 20th. JPMorgan Chase & Co. increased their price objective on Entergy from $87.00 to $98.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th. Finally, UBS Group upped their price target on Entergy from $86.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, March 21st. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $85.25.

Entergy Price Performance

Shares of NYSE:ETR opened at $80.50 on Tuesday. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.72 and a quick ratio of 0.59. Entergy Corporation has a 12 month low of $51.75 and a 12 month high of $88.38. The firm has a market capitalization of $34.68 billion, a P/E ratio of 33.06, a P/E/G ratio of 2.34 and a beta of 0.56. The company’s fifty day moving average price is $83.49 and its 200 day moving average price is $78.04.

Entergy (NYSE:ETR) last posted its earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 10.68% and a net margin of 8.90%. During the same period in the previous year, the business earned $0.26 EPS. As a group, sell-side analysts predict that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Friday, May 2nd will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.98%. Entergy’s dividend payout ratio (DPR) is presently 98.77%.

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.