Entergy Corporation (NYSE:ETR) Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC lessened its holdings in shares of Entergy Corporation (NYSE:ETR - Free Report) by 11.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 30,880 shares of the utilities provider's stock after selling 3,896 shares during the quarter. DAVENPORT & Co LLC's holdings in Entergy were worth $2,640,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. NBT Bank N A NY lifted its holdings 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 buying an additional 170 shares during the period. Sandy Spring Bank increased its stake in Entergy by 100.0% in the 4th quarter. Sandy Spring Bank now owns 358 shares of the utilities provider's stock worth $27,000 after purchasing an additional 179 shares in the last quarter. Glen Eagle Advisors LLC increased its stake in Entergy by 100.0% in 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 acquired a new stake in Entergy during the 4th quarter worth about $29,000. Finally, BOK Financial Private Wealth Inc. raised its holdings in Entergy by 100.0% during the 4th quarter. BOK Financial Private Wealth Inc. now owns 400 shares of the utilities provider's stock worth $30,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 88.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ETR. Morgan Stanley cut their price objective on Entergy from $82.00 to $81.00 and set an "equal weight" rating on the stock in a 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 report on Tuesday, March 11th. Barclays boosted their price objective on Entergy from $88.00 to $91.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. KeyCorp upgraded Entergy from a "sector weight" rating to an "overweight" rating and set a $85.00 price objective on the stock in a report on Wednesday, May 14th. Finally, Raymond James Financial began coverage on Entergy in a report on Friday, June 13th. They set a "market perform" rating on the stock. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's 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 Price Performance

Shares of ETR opened at $82.15 on Friday. The company has a market capitalization of $35.39 billion, a price-to-earnings ratio of 26.67, a P/E/G ratio of 2.23 and a beta of 0.59. Entergy Corporation has a fifty-two week low of $52.07 and a fifty-two week high of $88.38. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.82 and a quick ratio of 0.55. The business's 50-day moving average is $82.49 and its 200-day moving average is $81.83.

Entergy (NYSE:ETR - Get Free Report) last announced 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. The business had revenue of $3.02 billion during the quarter, compared to analysts' expectations 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 business posted $0.54 EPS. Equities research analysts expect that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Dividend Announcement

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

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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