44 Wealth Management LLC Reduces Holdings in Entergy Corporation (NYSE:ETR)

44 Wealth Management LLC decreased its holdings in Entergy Corporation (NYSE:ETR - Free Report) by 48.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 5,918 shares of the utilities provider's stock after selling 5,538 shares during the period. 44 Wealth Management LLC's holdings in Entergy were worth $506,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Legacy Financial Advisors Inc. increased its stake in shares of Entergy by 60.0% in the 4th quarter. Legacy Financial Advisors Inc. now owns 16,077 shares of the utilities provider's stock valued at $1,219,000 after purchasing an additional 6,028 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Entergy by 74.3% in the 4th quarter. Bank of Montreal Can now owns 670,923 shares of the utilities provider's stock valued at $50,869,000 after purchasing an additional 286,005 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Entergy in the 4th quarter valued at $9,135,000. Horizon Investment Services LLC increased its stake in shares of Entergy by 95.3% in the 4th quarter. Horizon Investment Services LLC now owns 4,319 shares of the utilities provider's stock valued at $328,000 after purchasing an additional 2,108 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of Entergy by 25.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 78,470 shares of the utilities provider's stock valued at $6,708,000 after purchasing an additional 15,892 shares during the last quarter. Institutional investors own 88.07% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. BMO Capital Markets boosted their price objective on Entergy from $89.00 to $93.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Morgan Stanley reduced their price objective on Entergy from $82.00 to $81.00 and set an "equal weight" rating on the stock in a research report on Wednesday, June 18th. JPMorgan Chase & Co. boosted their price objective on Entergy from $87.00 to $98.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 11th. KeyCorp upgraded Entergy from a "sector weight" rating to an "overweight" rating and set a $85.00 price target on the stock in a research report on Wednesday, May 14th. Finally, Barclays upped their price target on Entergy from $88.00 to $91.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $86.25.

Entergy Stock Performance

Shares of ETR stock traded up $0.83 during trading on Friday, hitting $82.15. The company's stock had a trading volume of 1,120,750 shares, compared to its average volume of 3,581,840. The company has a market cap of $35.39 billion, a PE ratio of 26.67, a P/E/G ratio of 2.23 and a beta of 0.59. The company has a current ratio of 0.82, a quick ratio of 0.55 and a debt-to-equity ratio of 1.91. The business has a fifty day moving average of $82.49 and a 200-day moving average of $81.83. Entergy Corporation has a 52 week low of $52.07 and a 52 week high of $88.38.

Entergy (NYSE:ETR - Get Free Report) last released its 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. The company had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.13 billion. Entergy had a return on equity of 11.43% and a net margin of 11.26%. During the same period in the prior year, the company posted $0.54 earnings per share. As a group, research analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 2nd were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend was Friday, May 2nd. Entergy's dividend payout ratio is presently 77.92%.

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.