Friedenthal Financial Increases Position in Entergy Corporation (NYSE:ETR)

Friedenthal Financial raised its stake in shares of Entergy Corporation (NYSE:ETR - Free Report) by 1,541.4% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 11,129 shares of the utilities provider's stock after purchasing an additional 10,451 shares during the period. Friedenthal Financial's holdings in Entergy were worth $951,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ETR. Fortis Group Advisors LLC boosted its stake in shares of Entergy by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider's stock worth $26,000 after buying an additional 172 shares during the last quarter. NBT Bank N A NY boosted its stake in shares of Entergy by 100.0% in the 4th quarter. NBT Bank N A NY now owns 340 shares of the utilities provider's stock worth $26,000 after buying an additional 170 shares during the last quarter. Duncker Streett & Co. Inc. boosted its stake in shares of Entergy by 100.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 358 shares of the utilities provider's stock worth $27,000 after buying an additional 179 shares during the last quarter. Sandy Spring Bank boosted its stake in shares of 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 buying an additional 179 shares during the last quarter. Finally, Glen Eagle Advisors LLC boosted its stake in shares of 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 buying an additional 180 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ETR shares. BMO Capital Markets boosted their target price on Entergy from $89.00 to $93.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Raymond James Financial initiated coverage on Entergy in a research note on Friday, June 13th. They issued a "market perform" rating on the stock. UBS Group lifted their price target on shares of Entergy from $86.00 to $96.00 and gave the stock a "buy" rating in a report on Friday, March 21st. Barclays lifted their price target on shares of Entergy from $88.00 to $91.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Entergy from $87.00 to $98.00 and gave the stock an "overweight" rating in a report on Tuesday, March 11th. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Entergy presently has a consensus rating of "Moderate Buy" and a consensus target price of $86.25.

Entergy Stock Performance

ETR stock traded up $0.07 during midday trading on Friday, reaching $80.99. 7,933,944 shares of the company's stock traded hands, compared to its average volume of 3,601,899. The company has a 50-day moving average price of $82.69 and a two-hundred day moving average price of $81.29. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.55 and a current ratio of 0.82. Entergy Corporation has a 52 week low of $52.07 and a 52 week high of $88.38. The firm has a market capitalization of $34.89 billion, a PE ratio of 26.30, a price-to-earnings-growth ratio of 2.20 and a beta of 0.59.

Entergy (NYSE:ETR - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $0.82 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.22. The firm had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.13 billion. Entergy had a net margin of 11.26% and a return on equity of 11.43%. During the same period in the previous year, the business earned $0.54 EPS. As a group, equities analysts anticipate that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 2nd were given a dividend of $0.60 per share. The ex-dividend date was Friday, May 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.96%. Entergy's dividend payout ratio (DPR) is currently 77.92%.

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.