Concord Wealth Partners Cuts Stake in Entergy Corporation (NYSE:ETR)

Concord Wealth Partners decreased its holdings in shares of Entergy Corporation (NYSE:ETR - Free Report) by 86.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 738 shares of the utilities provider's stock after selling 4,600 shares during the quarter. Concord Wealth Partners' holdings in Entergy were worth $63,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ETR. Vanguard Group Inc. lifted its position in Entergy by 101.9% in the fourth quarter. Vanguard Group Inc. now owns 52,133,646 shares of the utilities provider's stock valued at $3,952,773,000 after purchasing an additional 26,312,267 shares during the last quarter. Bank of America Corp DE lifted its position in Entergy by 142.8% in the fourth quarter. Bank of America Corp DE now owns 17,594,747 shares of the utilities provider's stock valued at $1,334,034,000 after purchasing an additional 10,347,926 shares during the last quarter. FMR LLC lifted its position in Entergy by 90.7% in the fourth quarter. FMR LLC now owns 12,612,407 shares of the utilities provider's stock valued at $956,273,000 after purchasing an additional 5,998,760 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Entergy by 71.4% in the fourth quarter. Ameriprise Financial Inc. now owns 12,884,421 shares of the utilities provider's stock valued at $976,895,000 after purchasing an additional 5,368,396 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Entergy by 106.2% in the fourth quarter. Geode Capital Management LLC now owns 10,236,816 shares of the utilities provider's stock valued at $774,103,000 after purchasing an additional 5,271,559 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. KeyCorp boosted their price objective on Entergy from $85.00 to $88.00 and gave the company an "overweight" rating in a research report on Wednesday. Barclays decreased their target price on Entergy from $91.00 to $87.00 and set an "overweight" rating for the company in a report on Thursday, July 10th. Raymond James Financial began coverage on Entergy in a report on Friday, June 13th. They set a "market perform" rating for the company. BMO Capital Markets upped their target price on Entergy from $89.00 to $93.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. upped their target price on Entergy from $100.00 to $102.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $86.46.

Entergy Stock Up 2.1%

ETR traded up $1.79 during trading on Friday, reaching $86.33. The stock had a trading volume of 2,512,447 shares, compared to its average volume of 3,571,958. The stock's 50 day moving average is $82.29 and its two-hundred day moving average is $82.39. 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 company has a market capitalization of $37.19 billion, a price-to-earnings ratio of 28.03, a P/E/G ratio of 2.35 and a beta of 0.59. Entergy Corporation has a one year low of $55.04 and a one year high of $88.38.

Entergy (NYSE:ETR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.22. The business had revenue of $3.02 billion during the quarter, compared to the consensus estimate 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 prior year, the company earned $0.54 earnings per share. As a group, analysts expect that Entergy Corporation will post 3.88 earnings per share for the current year.

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.