Trek Financial LLC Acquires Shares of 41,553 Entergy Corporation (NYSE:ETR)

Trek Financial LLC acquired a new stake in Entergy Corporation (NYSE:ETR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 41,553 shares of the utilities provider’s stock, valued at approximately $3,151,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ETR. Hilltop Holdings Inc. raised its stake in Entergy by 18.3% during the 3rd quarter. Hilltop Holdings Inc. now owns 3,044 shares of the utilities provider’s stock valued at $401,000 after acquiring an additional 471 shares during the last quarter. Investment Management Corp of Ontario raised its stake in shares of Entergy by 48.2% during the third quarter. Investment Management Corp of Ontario now owns 7,069 shares of the utilities provider’s stock worth $930,000 after purchasing an additional 2,300 shares during the last quarter. IHT Wealth Management LLC acquired a new stake in shares of Entergy during the third quarter worth $226,000. Quantinno Capital Management LP grew its position in Entergy by 19.1% in the 3rd quarter. Quantinno Capital Management LP now owns 31,538 shares of the utilities provider’s stock valued at $4,151,000 after buying an additional 5,057 shares during the last quarter. Finally, Stifel Financial Corp grew its position in Entergy by 8.2% in the 3rd quarter. Stifel Financial Corp now owns 164,211 shares of the utilities provider’s stock valued at $21,612,000 after buying an additional 12,383 shares during the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Evercore ISI raised their target price on shares of Entergy from $75.00 to $86.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. LADENBURG THALM/SH SH upgraded shares of Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price objective for the company in a research report on Thursday, January 30th. JPMorgan Chase & Co. boosted their target price on Entergy from $87.00 to $98.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 11th. Scotiabank reduced their price target on Entergy from $165.00 to $82.00 and set a “sector perform” rating for the company in a report on Tuesday, January 7th. Finally, StockNews.com upgraded Entergy from a “sell” rating to a “hold” rating in a research note on Sunday, December 29th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $84.75.

Entergy Stock Down 7.1 %

ETR opened at $79.02 on Friday. The firm has a market cap of $34.04 billion, a P/E ratio of 32.45, a PEG ratio of 2.34 and a beta of 0.56. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 1.81. The business’s fifty day simple moving average is $83.52 and its 200 day simple moving average is $76.60. Entergy Corporation has a 52 week low of $50.19 and a 52 week high of $88.38.

Entergy (NYSE:ETR) last announced its 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 net margin of 8.90% and a return on equity of 10.68%. 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 business earned $0.26 earnings per share. As a group, equities research analysts anticipate that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 10th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend was Monday, February 10th. Entergy’s dividend payout ratio is currently 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.