Edgemoor Investment Advisors Inc. Has $9.47 Million Position in Entergy Corporation (NYSE:ETR)

Edgemoor Investment Advisors Inc. raised its position in shares of Entergy Corporation (NYSE:ETR) by 98.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 124,860 shares of the utilities provider’s stock after purchasing an additional 61,877 shares during the quarter. Edgemoor Investment Advisors Inc.’s holdings in Entergy were worth $9,467,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. State Street Corp raised its stake in Entergy by 1.1% during the 3rd quarter. State Street Corp now owns 11,408,776 shares of the utilities provider’s stock valued at $1,501,509,000 after purchasing an additional 128,667 shares during the period. FMR LLC raised its stake in Entergy by 5.0% during the 3rd quarter. FMR LLC now owns 6,613,647 shares of the utilities provider’s stock valued at $870,422,000 after purchasing an additional 315,750 shares during the period. Franklin Resources Inc. raised its stake in Entergy by 53.0% during the 3rd quarter. Franklin Resources Inc. now owns 5,718,859 shares of the utilities provider’s stock valued at $754,318,000 after purchasing an additional 1,981,611 shares during the period. Geode Capital Management LLC raised its stake in Entergy by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 4,965,257 shares of the utilities provider’s stock valued at $651,206,000 after purchasing an additional 37,279 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Entergy by 60.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,589,727 shares of the utilities provider’s stock valued at $472,444,000 after acquiring an additional 1,354,355 shares in the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on ETR. LADENBURG THALM/SH SH upgraded shares of Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price target on the stock in a report on Thursday, January 30th. JPMorgan Chase & Co. boosted their price target on shares of Entergy from $87.00 to $98.00 and gave the company an “overweight” rating in a report on Tuesday, March 11th. KeyCorp cut shares of Entergy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Wells Fargo & Company boosted their price target on shares of Entergy from $85.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Finally, Evercore ISI boosted their price target on shares of Entergy from $75.00 to $86.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Six investment 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $84.11.

Entergy Stock Up 2.6 %

ETR stock opened at $85.00 on Monday. 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 52-week low of $50.19 and a 52-week high of $88.38. The company has a 50-day moving average of $82.07 and a two-hundred day moving average of $74.32. The stock has a market capitalization of $36.59 billion, a price-to-earnings ratio of 34.91, a price-to-earnings-growth ratio of 2.34 and a beta of 0.68.

Entergy (NYSE:ETR) last released its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. Entergy had a net margin of 8.90% and a return on equity of 10.68%. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $3.24 billion. During the same period in the prior year, the company earned $0.26 earnings per share. As a group, equities research analysts anticipate that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Dividend Announcement

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

Entergy Company 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.