Raymond James Trust N.A. lowered its stake in Entergy Co. (NYSE:ETR) by 7.8% in the 4th quarter, HoldingsChannel reports. The fund owned 6,422 shares of the utilities provider’s stock after selling 541 shares during the period. Raymond James Trust N.A.’s holdings in Entergy were worth $769,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Entergy by 1.0% in the second quarter. Vanguard Group Inc. now owns 22,434,114 shares of the utilities provider’s stock worth $2,309,144,000 after acquiring an additional 227,146 shares in the last quarter. BlackRock Inc. grew its position in Entergy by 4.0% in the second quarter. BlackRock Inc. now owns 15,716,038 shares of the utilities provider’s stock worth $1,617,651,000 after acquiring an additional 597,926 shares in the last quarter. State Street Corp grew its position in Entergy by 3.2% in the third quarter. State Street Corp now owns 10,781,472 shares of the utilities provider’s stock worth $1,265,314,000 after acquiring an additional 330,613 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Entergy by 8.0% in the second quarter. Price T Rowe Associates Inc. MD now owns 10,064,350 shares of the utilities provider’s stock worth $1,035,924,000 after acquiring an additional 744,690 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its position in Entergy by 3.0% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,275,619 shares of the utilities provider’s stock worth $337,160,000 after acquiring an additional 96,257 shares in the last quarter. Institutional investors own 86.12% of the company’s stock.
Several research analysts recently commented on the company. KeyCorp lifted their price target on Entergy from $118.00 to $128.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Mizuho reiterated a “buy” rating and issued a $123.00 price target (up previously from $121.00) on shares of Entergy in a research report on Monday, December 23rd. UBS Group lowered Entergy from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $115.00 to $126.00 in a research report on Thursday, October 31st. Bank of America boosted their target price on Entergy from $125.00 to $128.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Finally, Morgan Stanley dropped their target price on Entergy from $116.00 to $115.00 and set an “equal weight” rating for the company in a research report on Monday, December 16th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $116.82.
Shares of NYSE:ETR opened at $124.95 on Friday. Entergy Co. has a 1 year low of $85.41 and a 1 year high of $124.99. The business has a 50 day simple moving average of $119.05 and a two-hundred day simple moving average of $114.03. The firm has a market capitalization of $24.21 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 3.12 and a beta of 0.27. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.72 and a quick ratio of 0.53.
Entergy (NYSE:ETR) last announced its earnings results on Wednesday, October 30th. The utilities provider reported $2.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.29 by $0.23. Entergy had a return on equity of 11.13% and a net margin of 7.38%. The business had revenue of $36.72 billion during the quarter, compared to analyst estimates of $3.42 billion. During the same quarter in the previous year, the business earned $3.77 earnings per share. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. Equities research analysts expect that Entergy Co. will post 5.32 EPS for the current fiscal year.
Entergy Corporation, together with its subsidiaries, engages in the production and distribution of electricity in the United States. It generates electricity through gas/oil, nuclear, coal, hydro, and solar power sources. The company's Utility segment generates, transmits, distributes, and sells electric power in portions of Arkansas, Mississippi, Texas, and Louisiana, including the City of New Orleans; and distributes natural gas.
Further Reading: Differences Between Momentum Investing and Long Term Investing
Want to see what other hedge funds are holding ETR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Entergy Co. (NYSE:ETR).
Receive News & Ratings for Entergy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Entergy and related companies with MarketBeat.com's FREE daily email newsletter.