Envestnet Asset Management Inc. Acquires 75,649 Shares of Entergy Corporation (NYSE:ETR)

Envestnet Asset Management Inc. increased its position in shares of Entergy Corporation (NYSE:ETR - Free Report) by 3.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,129,657 shares of the utilities provider's stock after purchasing an additional 75,649 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.49% of Entergy worth $182,064,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake 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 acquiring an additional 26,312,267 shares during the last quarter. Bank of America Corp DE boosted its stake 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 acquiring an additional 10,347,926 shares during the last quarter. FMR LLC boosted its stake 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 acquiring an additional 5,998,760 shares during the last quarter. Ameriprise Financial Inc. boosted its stake 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 acquiring an additional 5,368,396 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake 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 acquiring an additional 5,271,559 shares during the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ETR has been the topic of a number of recent research reports. Barclays upped their price target on shares of Entergy from $88.00 to $91.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. 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. KeyCorp upgraded shares of 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. UBS Group upped their price target on shares of Entergy from $86.00 to $96.00 and gave the company a "buy" rating in a research note on Friday, March 21st. Finally, Raymond James Financial began coverage on shares of Entergy in a research note on Friday, June 13th. They issued a "market perform" rating on the stock. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $86.25.

Entergy Price Performance

Shares of NYSE ETR opened at $80.91 on Wednesday. Entergy Corporation has a twelve month low of $52.07 and a twelve month high of $88.38. 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 stock has a 50 day moving average of $82.37 and a two-hundred day moving average of $81.98. The stock has a market cap of $34.85 billion, a P/E ratio of 26.27, a P/E/G ratio of 2.23 and a beta of 0.59.

Entergy (NYSE:ETR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $0.82 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.22. Entergy had a return on equity of 11.43% and a net margin of 11.26%. The business had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $3.13 billion. During the same quarter last year, the business posted $0.54 earnings per share. On average, research analysts forecast 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.

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