HB Wealth Management LLC Purchases 8,138 Shares of Entergy Corporation (NYSE:ETR)

Key Points

• HB Wealth Management LLC increased its holdings in Entergy Corporation by 72.7% in Q1, owning 19,339 shares valued at $1.65 million.
• Entergy announced a quarterly dividend of $0.60 per share, yielding 2.72%, with an ex-dividend date set for August 13th.
• Analysts have a consensus rating of "Moderate Buy" on Entergy, with a target price of $86.46, reflecting recent changes from KeyCorp and JPMorgan Chase.

HB Wealth Management LLC lifted its holdings in Entergy Corporation (NYSE:ETR - Free Report) by 72.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,339 shares of the utilities provider's stock after buying an additional 8,138 shares during the period. HB Wealth Management LLC's holdings in Entergy were worth $1,653,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC boosted its holdings in shares of Entergy by 275.6% during the fourth quarter. Brighton Jones LLC now owns 9,176 shares of the utilities provider's stock worth $696,000 after purchasing an additional 6,733 shares during the period. American Century Companies Inc. lifted its position in Entergy by 58.6% in the 4th quarter. American Century Companies Inc. now owns 239,358 shares of the utilities provider's stock worth $18,148,000 after buying an additional 88,456 shares in the last quarter. Loomis Sayles & Co. L P acquired a new stake in shares of Entergy during the 4th quarter valued at $101,000. Blair William & Co. IL boosted its stake in shares of Entergy by 137.1% during the 4th quarter. Blair William & Co. IL now owns 21,297 shares of the utilities provider's stock valued at $1,615,000 after buying an additional 12,315 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its holdings in shares of Entergy by 101.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 130,914 shares of the utilities provider's stock valued at $9,926,000 after acquiring an additional 65,897 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Mizuho set a $97.00 price objective on Entergy and gave the stock an "outperform" rating in a report on Thursday. Raymond James Financial assumed coverage on Entergy in a research note on Friday, June 13th. They set a "market perform" rating for the company. BMO Capital Markets boosted their price target on Entergy from $89.00 to $93.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Morgan Stanley dropped 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. Finally, KeyCorp reaffirmed an "overweight" rating and set a $96.00 price objective (up previously from $88.00) on shares of Entergy in a research report on Thursday. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $88.07.

Entergy Stock Performance

Shares of NYSE:ETR traded down $0.54 during midday trading on Friday, hitting $89.89. The company's stock had a trading volume of 1,053,196 shares, compared to its average volume of 3,627,382. 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 stock's 50 day simple moving average is $83.41 and its 200 day simple moving average is $83.09. The stock has a market capitalization of $38.72 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 2.43 and a beta of 0.59. Entergy Corporation has a fifty-two week low of $57.58 and a fifty-two week high of $91.46.

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

Entergy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Wednesday, August 13th will be given 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 payout ratio is 59.85%.

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.