Entergy Corporation (NYSE:ETR) Shares Acquired by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. increased its stake in Entergy Corporation (NYSE:ETR) by 107.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,126 shares of the utilities provider’s stock after acquiring an additional 34,181 shares during the period. Avantax Advisory Services Inc.’s holdings in Entergy were worth $5,014,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Securian Asset Management Inc. raised its stake in shares of Entergy by 95.9% in the fourth quarter. Securian Asset Management Inc. now owns 23,046 shares of the utilities provider’s stock valued at $1,747,000 after acquiring an additional 11,279 shares in the last quarter. Truvestments Capital LLC raised its stake in Entergy by 101.3% in the fourth quarter. Truvestments Capital LLC now owns 801 shares of the utilities provider’s stock valued at $61,000 after buying an additional 403 shares in the last quarter. Kayne Anderson Capital Advisors LP raised its stake in Entergy by 237.5% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 900,099 shares of the utilities provider’s stock valued at $68,246,000 after buying an additional 633,369 shares in the last quarter. Hopwood Financial Services Inc. acquired a new stake in Entergy in the fourth quarter valued at $45,000. Finally, EverSource Wealth Advisors LLC raised its stake in Entergy by 484.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 5,129 shares of the utilities provider’s stock valued at $389,000 after buying an additional 4,252 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ETR has been the topic of a number of analyst reports. BMO Capital Markets raised their price target on Entergy from $79.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. KeyCorp cut Entergy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Wells Fargo & Company raised their price target on Entergy from $85.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Scotiabank dropped their price objective on Entergy from $165.00 to $82.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 7th. Finally, UBS Group raised their price objective on Entergy from $72.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $84.11.

Entergy Stock Performance

NYSE ETR opened at $85.00 on Friday. 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 Corporation has a 52-week low of $50.19 and a 52-week high of $88.38. The business’s 50-day moving average price is $82.07 and its 200 day moving average price is $74.11. The firm has a market cap of $36.59 billion, a P/E ratio of 34.91, a P/E/G 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, topping analysts’ consensus estimates of $0.63 by $0.03. Entergy had a return on equity of 10.68% and a net margin of 8.90%. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same quarter last year, the company posted $0.26 earnings per share. On average, equities research analysts expect that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 10th were issued a $0.60 dividend. 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 is presently 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.