Allspring Global Investments Holdings LLC Raises Stake in Entergy Corporation (NYSE:ETR)

Allspring Global Investments Holdings LLC raised its holdings in Entergy Corporation (NYSE:ETR - Free Report) by 25.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 323,762 shares of the utilities provider's stock after purchasing an additional 66,165 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.08% of Entergy worth $27,733,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Acropolis Investment Management LLC lifted its holdings in shares of Entergy by 0.7% during the first quarter. Acropolis Investment Management LLC now owns 17,954 shares of the utilities provider's stock worth $1,535,000 after purchasing an additional 129 shares during the period. Gen Wealth Partners Inc raised its position in Entergy by 27.5% during the 4th quarter. Gen Wealth Partners Inc now owns 668 shares of the utilities provider's stock worth $51,000 after buying an additional 144 shares during the last quarter. NBT Bank N A NY raised its position in Entergy by 100.0% during the 4th quarter. NBT Bank N A NY now owns 340 shares of the utilities provider's stock worth $26,000 after buying an additional 170 shares during the last quarter. Legacy Investment Solutions LLC lifted its stake in shares of Entergy by 85.1% in the 4th quarter. Legacy Investment Solutions LLC now owns 374 shares of the utilities provider's stock worth $31,000 after acquiring an additional 172 shares during the period. Finally, Sandy Spring Bank boosted its holdings in shares of Entergy by 100.0% in the fourth quarter. Sandy Spring Bank now owns 358 shares of the utilities provider's stock valued at $27,000 after acquiring an additional 179 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Entergy Price Performance

Shares of Entergy stock traded up $0.83 on Thursday, 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 capitalization of $35.39 billion, a P/E ratio of 26.67, a price-to-earnings-growth ratio of 2.22 and a beta of 0.59. Entergy Corporation has a 52-week low of $52.07 and a 52-week high of $88.38. The firm has a fifty day moving average price of $82.60 and a 200-day moving average price of $81.73. The company has a quick ratio of 0.55, a current ratio of 0.82 and a debt-to-equity ratio of 1.91.

Entergy (NYSE:ETR - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.60 by $0.22. Entergy had a net margin of 11.26% and a return on equity of 11.43%. The business had revenue of $3.02 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same period in the prior year, the business earned $0.54 earnings per share. On average, equities research analysts expect that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Announces Dividend

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

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Morgan Stanley cut their price target on shares of Entergy from $82.00 to $81.00 and set an "equal weight" rating for the company in a report on Wednesday, June 18th. JPMorgan Chase & Co. increased their target price on Entergy from $87.00 to $98.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 11th. UBS Group raised their price target on Entergy from $86.00 to $96.00 and gave the company a "buy" rating in a report on Friday, March 21st. 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 note on Wednesday, May 14th. Finally, BMO Capital Markets increased 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. Six 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $86.25.

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.