Steward Partners Investment Advisory LLC Boosts Stock Holdings in Entergy Corporation (NYSE:ETR)

Steward Partners Investment Advisory LLC boosted its position in Entergy Corporation (NYSE:ETR) by 117.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,547 shares of the utilities provider’s stock after buying an additional 10,567 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Entergy were worth $1,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in ETR. Franklin Resources Inc. increased its holdings in 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 acquiring an additional 1,981,611 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Entergy by 139.5% in the fourth quarter. Jennison Associates LLC now owns 2,423,556 shares of the utilities provider’s stock worth $183,754,000 after purchasing an additional 1,411,473 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Entergy by 60.6% in the third quarter. JPMorgan Chase & Co. now owns 3,589,727 shares of the utilities provider’s stock worth $472,444,000 after purchasing an additional 1,354,355 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Entergy by 87.4% in the fourth quarter. Bank of New York Mellon Corp now owns 2,848,293 shares of the utilities provider’s stock valued at $215,958,000 after purchasing an additional 1,328,694 shares during the period. Finally, Truist Financial Corp lifted its stake in shares of Entergy by 105.0% during the 4th quarter. Truist Financial Corp now owns 2,072,950 shares of the utilities provider’s stock valued at $157,171,000 after buying an additional 1,061,527 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ETR shares. UBS Group lifted their price objective on shares of Entergy from $72.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. StockNews.com upgraded Entergy from a “sell” rating to a “hold” rating in a research report on Sunday, December 29th. KeyCorp cut Entergy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. BMO Capital Markets lifted their target price on Entergy from $79.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, LADENBURG THALM/SH SH raised shares of Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price target on the stock in a report on Thursday, January 30th. Six research 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $82.14.

Entergy Price Performance

ETR stock opened at $81.23 on Monday. The firm has a 50 day simple moving average of $81.40 and a two-hundred day simple moving average of $73.50. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.72 and a quick ratio of 0.59. The stock has a market cap of $34.96 billion, a PE ratio of 33.36, a P/E/G ratio of 2.34 and a beta of 0.68. Entergy Corporation has a one year low of $50.19 and a one year 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 the consensus estimate of $0.63 by $0.03. Entergy had a net margin of 8.90% and a return on equity of 10.68%. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $3.24 billion. During the same period in the previous year, the business earned $0.26 earnings per share. On average, analysts predict that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 10th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.95%. Entergy’s dividend payout ratio is 98.77%.

Insider Buying and Selling

In other Entergy 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 value 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 $292,210.88. The trade was a 60.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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.