BROOKFIELD Corp ON Acquires 1,487,120 Shares of Entergy Corporation (NYSE:ETR)

BROOKFIELD Corp ON grew its position in Entergy Corporation (NYSE:ETR - Free Report) by 109.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,846,262 shares of the utilities provider's stock after acquiring an additional 1,487,120 shares during the period. Entergy comprises about 1.3% of BROOKFIELD Corp ON's portfolio, making the stock its 13th largest holding. BROOKFIELD Corp ON owned 0.66% of Entergy worth $215,804,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new stake in Entergy in the 3rd quarter valued at $175,000. Synovus Financial Corp increased its holdings in shares of Entergy by 78.3% in the third quarter. Synovus Financial Corp now owns 4,269 shares of the utilities provider's stock valued at $562,000 after purchasing an additional 1,875 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Entergy by 4.0% in the third quarter. Principal Financial Group Inc. now owns 280,262 shares of the utilities provider's stock valued at $36,885,000 after purchasing an additional 10,697 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Entergy by 60.6% during 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 last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of Entergy by 171.5% during the 4th quarter. Versant Capital Management Inc now owns 668 shares of the utilities provider's stock worth $51,000 after buying an additional 422 shares during the period. Institutional investors own 88.07% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ETR shares. Wells Fargo & Company raised their price objective on shares of Entergy from $85.00 to $97.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 19th. Evercore ISI boosted their price target on Entergy from $75.00 to $86.00 and gave the company an "in-line" rating in a research note on Wednesday, February 19th. Barclays upped their price objective on Entergy from $88.00 to $91.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. UBS Group lifted their target price on Entergy from $86.00 to $96.00 and gave the stock a "buy" rating in a report on Friday, March 21st. Finally, LADENBURG THALM/SH SH upgraded shares of Entergy from a "neutral" rating to a "buy" rating and set a $86.50 price target on the stock in a research note on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $85.75.

Entergy Price Performance

NYSE:ETR traded down $0.45 during mid-day trading on Friday, reaching $82.86. The stock had a trading volume of 2,170,829 shares, compared to its average volume of 3,672,935. Entergy Corporation has a 12 month low of $52.07 and a 12 month high of $88.38. The stock has a market capitalization of $35.69 billion, a PE ratio of 34.03, a P/E/G ratio of 2.34 and a beta of 0.62. 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 50-day simple moving average of $83.07 and a two-hundred day simple moving average of $79.58.

Entergy (NYSE:ETR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.22. Entergy had a return on equity of 10.68% and a net margin of 8.90%. The company had revenue of $3.02 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter last year, the company posted $0.54 EPS. On average, equities analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Friday, May 2nd will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Friday, May 2nd. Entergy's dividend payout ratio (DPR) is currently 77.92%.

Entergy Company 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.