Boston Financial Mangement LLC Acquires New Stake in Entergy Corporation (NYSE:ETR)

Boston Financial Mangement LLC bought a new position in Entergy Corporation (NYSE:ETR) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 3,352 shares of the utilities provider’s stock, valued at approximately $254,000.

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

Entergy Trading Down 1.7 %

Shares of NYSE:ETR opened at $85.82 on Friday. The business’s 50-day moving average is $79.01 and its 200 day moving average is $71.19. Entergy Corporation has a 1 year low of $49.80 and a 1 year high of $88.38. The firm has a market capitalization of $36.80 billion, a P/E ratio of 35.24, a P/E/G ratio of 2.67 and a beta of 0.72. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.89 and a quick ratio of 0.59.

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, beating the consensus estimate of $0.63 by $0.03. Entergy had a return on equity of 10.75% and a net margin of 8.90%. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same period in the prior year, the company posted $0.26 EPS. On average, research 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, March 3rd. Investors of record on Monday, February 10th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.80%. The ex-dividend date is Monday, February 10th. Entergy’s dividend payout ratio is currently 98.77%.

Wall Street Analysts Forecast Growth

ETR has been the subject of several research reports. Bank of America cut Entergy from a “buy” rating to a “neutral” rating and upped their target price for the stock from $69.00 to $77.00 in a report on Monday, November 4th. LADENBURG THALM/SH SH upgraded Entergy from a “neutral” rating to a “buy” rating and set a $86.50 target price for the company in a report on Thursday, January 30th. KeyCorp lowered Entergy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. UBS Group boosted their price target on Entergy from $72.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Finally, Evercore ISI boosted their price target on Entergy from $75.00 to $86.00 and gave the stock an “in-line” rating in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $82.14.

Insider Activity at Entergy

In other news, insider Deanna D. Rodriguez sold 6,088 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $73.94, for a total value of $450,146.72. Following the transaction, the insider now directly owns 3,952 shares of the company’s stock, valued at approximately $292,210.88. This represents a 60.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.39% of the stock is currently owned by corporate insiders.

About Entergy

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.