Intech Investment Management LLC Trims Stock Holdings in Entergy Corporation (NYSE:ETR)

Intech Investment Management LLC decreased its position in Entergy Corporation (NYSE:ETR) by 13.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,728 shares of the utilities provider’s stock after selling 4,351 shares during the period. Intech Investment Management LLC’s holdings in Entergy were worth $2,178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ETR. Fortis Group Advisors LLC raised its stake in Entergy by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 172 shares during the last quarter. NBT Bank N A NY raised its stake in Entergy by 100.0% in the 4th quarter. NBT Bank N A NY now owns 340 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 170 shares during the last quarter. Legacy Investment Solutions LLC purchased a new position in shares of Entergy during the 3rd quarter valued at about $27,000. Duncker Streett & Co. Inc. raised its stake in shares of Entergy by 100.0% during the 4th 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 stake in shares of Entergy by 100.0% during the 4th 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. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on ETR. StockNews.com upgraded Entergy from a “sell” rating to a “hold” rating in a research note on Sunday, December 29th. Morgan Stanley lifted their price objective on Entergy from $75.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday. Evercore ISI lifted their price objective on Entergy from $75.00 to $86.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. LADENBURG THALM/SH SH upgraded Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price objective for the company in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. lifted their price objective on Entergy from $87.00 to $98.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th. Six investment 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $84.32.

Entergy Trading Down 0.0 %

ETR stock opened at $84.62 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 1.81. Entergy Corporation has a 12-month low of $50.19 and a 12-month high of $88.38. The stock has a market cap of $36.42 billion, a price-to-earnings ratio of 34.75, a PEG ratio of 2.34 and a beta of 0.68. The business’s 50-day moving average is $82.75 and its 200 day moving average is $74.80.

Entergy (NYSE:ETR) last posted its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.03. The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $3.24 billion. Entergy had a return on equity of 10.68% and a net margin of 8.90%. During the same period in the previous year, the firm posted $0.26 EPS. On average, sell-side analysts anticipate that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 10th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend 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.