Entergy Corporation (NYSE:ETR) Shares Acquired by Vestcor Inc

Key Points

• Vestcor Inc has increased its stake in Entergy Corporation by 55.1% during the 1st quarter, now owning 26,894 shares valued at approximately $2.3 million.
• The company reported $1.05 earnings per share for the last quarter, beating estimates, while its quarterly revenue was $3.02 billion, slightly below the consensus expectation.
• Entergy's recent quarterly dividend announcement of $0.60 per share reflects an annualized rate of $2.40 with a yield of 2.7%.

Vestcor Inc boosted its stake in shares of Entergy Corporation (NYSE:ETR - Free Report) by 55.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,894 shares of the utilities provider's stock after buying an additional 9,553 shares during the quarter. Vestcor Inc's holdings in Entergy were worth $2,299,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ETR. Bank of America Corp DE grew its position in Entergy by 142.8% during the fourth quarter. Bank of America Corp DE now owns 17,594,747 shares of the utilities provider's stock worth $1,334,034,000 after buying an additional 10,347,926 shares during the period. FMR LLC grew its position in Entergy by 90.7% during the fourth quarter. FMR LLC now owns 12,612,407 shares of the utilities provider's stock worth $956,273,000 after buying an additional 5,998,760 shares during the period. Ameriprise Financial Inc. grew its position in Entergy by 71.4% during the fourth quarter. Ameriprise Financial Inc. now owns 12,884,421 shares of the utilities provider's stock worth $976,895,000 after buying an additional 5,368,396 shares during the period. Geode Capital Management LLC grew its position in Entergy by 106.2% during the fourth quarter. Geode Capital Management LLC now owns 10,236,816 shares of the utilities provider's stock worth $774,103,000 after buying an additional 5,271,559 shares during the period. Finally, Capital International Investors grew its position in Entergy by 103.6% during the fourth quarter. Capital International Investors now owns 7,773,654 shares of the utilities provider's stock worth $589,389,000 after buying an additional 3,956,122 shares during the period. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Entergy Stock Performance

Shares of ETR opened at $90.48 on Friday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.55 and a current ratio of 0.80. The company has a market capitalization of $38.98 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 2.43 and a beta of 0.59. The company's 50 day simple moving average is $83.41 and its 200 day simple moving average is $83.09. Entergy Corporation has a 1 year low of $57.47 and a 1 year high of $91.46.

Entergy (NYSE:ETR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.14. The business had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.11 billion. Entergy had a net margin of 14.35% and a return on equity of 11.52%. During the same quarter in the prior year, the firm posted $1.92 earnings per share. On average, sell-side analysts predict that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 13th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $2.40 dividend on an annualized basis and a yield of 2.7%. Entergy's dividend payout ratio (DPR) is currently 59.85%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ETR. BMO Capital Markets upped 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. Mizuho set a $97.00 price target on shares of Entergy and gave the company an "outperform" rating in a research report on Thursday. Barclays lowered their price target on shares of Entergy from $91.00 to $87.00 and set an "overweight" rating on the stock in a research report on Thursday, July 10th. KeyCorp reiterated an "overweight" rating and issued a $96.00 price target (up from $88.00) on shares of Entergy in a research report on Thursday. Finally, JPMorgan Chase & Co. increased their price target on shares of Entergy from $100.00 to $102.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Entergy has a consensus rating of "Moderate Buy" and a consensus target price of $88.07.

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.

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