Mystic Asset Management Inc. Invests $355,000 in Entergy Corporation (NYSE:ETR)

Mystic Asset Management Inc. purchased a new position in Entergy Corporation (NYSE:ETR - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,158 shares of the utilities provider's stock, valued at approximately $355,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ETR. Vanguard Group Inc. increased its stake in shares of Entergy by 101.9% in the 4th quarter. Vanguard Group Inc. now owns 52,133,646 shares of the utilities provider's stock valued at $3,952,773,000 after purchasing an additional 26,312,267 shares in the last quarter. Bank of America Corp DE increased its position in shares of 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 acquiring an additional 10,347,926 shares during the period. Ameriprise Financial Inc. raised 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 buying an additional 5,368,396 shares in the last quarter. FMR LLC boosted its position in shares of Entergy by 90.7% in the 4th quarter. FMR LLC now owns 12,612,407 shares of the utilities provider's stock valued at $956,273,000 after purchasing an additional 5,998,760 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Entergy by 66.7% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,042,159 shares of the utilities provider's stock worth $837,216,000 after purchasing an additional 4,418,528 shares during the period. Institutional investors own 88.07% of the company's stock.

Wall Street Analyst Weigh In

ETR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Entergy from $100.00 to $102.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Barclays dropped their price target on shares of Entergy from $91.00 to $87.00 and set an "overweight" rating on the stock in a research note on Thursday, July 10th. KeyCorp increased their target price on shares of Entergy from $85.00 to $88.00 and gave the company an "overweight" rating in a research note on Wednesday. Raymond James Financial initiated coverage on Entergy in a report on Friday, June 13th. They issued a "market perform" rating for the company. Finally, Morgan Stanley lowered their price objective on Entergy from $82.00 to $81.00 and set an "equal weight" rating for the company in a research report on Wednesday, June 18th. Six 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.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $86.46.

Entergy Stock Performance

Shares of ETR traded up $1.79 during mid-day trading on Friday, hitting $86.33. 2,512,447 shares of the company's stock were exchanged, compared to its average volume of 3,571,958. The company has a quick ratio of 0.55, a current ratio of 0.82 and a debt-to-equity ratio of 1.91. The firm has a market cap of $37.19 billion, a price-to-earnings ratio of 28.03, a price-to-earnings-growth ratio of 2.35 and a beta of 0.59. The stock's 50-day simple moving average is $82.29 and its 200-day simple moving average is $82.39. Entergy Corporation has a 52 week low of $55.04 and a 52 week high of $88.38.

Entergy (NYSE:ETR - Get Free Report) last issued its 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. The firm had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.13 billion. Entergy had a return on equity of 11.43% and a net margin of 11.26%. During the same quarter last year, the business posted $0.54 EPS. On average, equities research analysts expect that Entergy Corporation will post 3.88 EPS for the current year.

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.