Code Waechter LLC Invests $291,000 in Entergy Corporation (NYSE:ETR)

Code Waechter LLC bought a new position in shares of Entergy Corporation (NYSE:ETR - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,400 shares of the utilities provider's stock, valued at approximately $291,000.

Several other hedge funds have also added to or reduced their stakes in the company. NBT Bank N A NY grew its stake in shares of Entergy by 100.0% in the fourth quarter. NBT Bank N A NY now owns 340 shares of the utilities provider's stock valued at $26,000 after acquiring an additional 170 shares in the last quarter. Sandy Spring Bank boosted its holdings in Entergy by 100.0% in the 4th quarter. Sandy Spring Bank now owns 358 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 179 shares during the period. Glen Eagle Advisors LLC grew its position in shares of Entergy by 100.0% during the 4th quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider's stock worth $27,000 after purchasing an additional 180 shares in the last quarter. Glass Jacobson Investment Advisors llc bought a new position in shares of Entergy during the fourth quarter worth approximately $29,000. Finally, VSM Wealth Advisory LLC acquired a new stake in shares of Entergy in the fourth quarter valued at approximately $30,000. 88.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ETR. Raymond James Financial assumed coverage on shares of Entergy in a research report on Friday, June 13th. They set a "market perform" rating on the stock. Barclays upped their price target on Entergy from $88.00 to $91.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. BMO Capital Markets lifted their target price on shares of Entergy from $89.00 to $93.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Morgan Stanley dropped their price target on shares of Entergy from $82.00 to $81.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 18th. Finally, UBS Group boosted their price objective on Entergy from $86.00 to $96.00 and gave the stock a "buy" rating in a report on Friday, March 21st. Six investment 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 company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $86.25.

Entergy Stock Performance

Shares of ETR stock opened at $81.31 on Thursday. Entergy Corporation has a 1 year low of $52.46 and a 1 year high of $88.38. The business has a fifty day moving average of $82.34 and a 200 day moving average of $81.98. The firm has a market capitalization of $35.03 billion, a price-to-earnings ratio of 26.40, a price-to-earnings-growth ratio of 2.20 and a beta of 0.59. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.82 and a quick ratio of 0.55.

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 analysts' consensus estimates of $0.60 by $0.22. The business had revenue of $3.02 billion for 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 quarter in the previous year, the company posted $0.54 earnings per share. As a group, research analysts expect that Entergy Corporation will post 3.88 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.