AGF Management Ltd. Raises Stake in Entergy Corporation (NYSE:ETR)

AGF Management Ltd. grew its stake in shares of Entergy Corporation (NYSE:ETR) by 310.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,574 shares of the utilities provider’s stock after buying an additional 54,152 shares during the period. AGF Management Ltd.’s holdings in Entergy were worth $5,427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of ETR. Fortis Group Advisors LLC raised its position in shares of Entergy by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider’s stock valued at $26,000 after buying an additional 172 shares during the last quarter. NBT Bank N A NY raised its position in shares of Entergy by 100.0% during the fourth quarter. NBT Bank N A NY now owns 340 shares of the utilities provider’s stock valued at $26,000 after buying an additional 170 shares during the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of Entergy during the third quarter valued at approximately $27,000. Duncker Streett & Co. Inc. raised its position in shares of Entergy by 100.0% during the fourth quarter. Duncker Streett & Co. Inc. now owns 358 shares of the utilities provider’s stock valued at $27,000 after buying an additional 179 shares during the last quarter. Finally, Riverview Trust Co raised its position in shares of Entergy by 100.0% during the fourth quarter. Riverview Trust Co now owns 364 shares of the utilities provider’s stock valued at $28,000 after buying an additional 182 shares during the last quarter. Institutional investors own 88.07% of the company’s stock.

Wall Street Analyst Weigh In

ETR has been the topic of several recent analyst reports. LADENBURG THALM/SH SH upgraded shares of Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price objective on the stock in a research report on Thursday, January 30th. BMO Capital Markets boosted their price target on shares of Entergy from $79.00 to $94.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Evercore ISI boosted their price target on shares of Entergy from $75.00 to $86.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. Scotiabank reduced their price target on shares of Entergy from $165.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 7th. Finally, KeyCorp cut shares of Entergy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $84.11.

Insider Activity

In other news, insider Deanna D. Rodriguez sold 6,088 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $73.94, for a total transaction of $450,146.72. Following the completion of the sale, the insider now directly owns 3,952 shares of the company’s stock, valued at approximately $292,210.88. The trade was a 60.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.39% of the company’s stock.

Entergy Trading Up 0.4 %

ETR stock opened at $82.70 on Thursday. 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 twelve month low of $50.19 and a twelve month high of $88.38. The stock has a market capitalization of $35.59 billion, a price-to-earnings ratio of 33.96, a price-to-earnings-growth ratio of 2.34 and a beta of 0.68. The firm’s fifty day simple moving average is $81.76 and its two-hundred day simple moving average is $73.87.

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

Entergy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders 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 dividend yield of 2.90%. The ex-dividend date was Monday, February 10th. Entergy’s dividend payout ratio is currently 98.77%.

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.