Partnership Wealth Management LLC Invests $427,000 in Entergy Corporation (NYSE:ETR)

Partnership Wealth Management LLC purchased a new stake in Entergy Corporation (NYSE:ETR - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,000 shares of the utilities provider's stock, valued at approximately $427,000.

A number of other institutional investors and hedge funds have also bought and sold shares of ETR. Legacy Financial Advisors Inc. grew its stake in Entergy by 60.0% in the 4th quarter. Legacy Financial Advisors Inc. now owns 16,077 shares of the utilities provider's stock valued at $1,219,000 after purchasing an additional 6,028 shares during the period. Strategic Financial Concepts LLC bought a new position in Entergy in the 4th quarter valued at $4,393,000. LaFleur & Godfrey LLC bought a new position in Entergy in the 4th quarter valued at $217,000. Bank of Montreal Can grew its stake in Entergy by 74.3% in the 4th quarter. Bank of Montreal Can now owns 670,923 shares of the utilities provider's stock valued at $50,869,000 after purchasing an additional 286,005 shares during the period. Finally, Avior Wealth Management LLC grew its stake in Entergy by 324.3% in the 4th quarter. Avior Wealth Management LLC now owns 734 shares of the utilities provider's stock valued at $56,000 after purchasing an additional 561 shares during the period. 88.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. UBS Group increased their price target on Entergy from $86.00 to $96.00 and gave the stock a "buy" rating in a research note on Friday, March 21st. Evercore ISI increased their price target on Entergy from $75.00 to $86.00 and gave the stock an "in-line" rating in a research note on Wednesday, February 19th. KeyCorp upgraded Entergy from a "sector weight" rating to an "overweight" rating and set a $85.00 price target for the company in a research note on Wednesday, May 14th. BMO Capital Markets increased their price target on Entergy from $89.00 to $93.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Entergy in a research note on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $86.04.

Entergy Stock Up 1.0%

Shares of NYSE ETR traded up $0.84 during trading on Friday, reaching $83.20. The company had a trading volume of 4,051,049 shares, compared to its average volume of 3,645,530. Entergy Corporation has a 12-month low of $52.07 and a 12-month high of $88.38. The stock has a market cap of $35.84 billion, a PE ratio of 34.17, a P/E/G ratio of 2.34 and a beta of 0.62. The business's 50-day moving average is $82.77 and its 200 day moving average is $80.75. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 1.81.

Entergy (NYSE:ETR - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.60 by $0.22. Entergy had a return on equity of 10.68% and a net margin of 8.90%. The company had revenue of $3.02 billion for the quarter, compared to analysts' expectations of $3.13 billion. During the same period last year, the firm posted $0.54 earnings per share. As a group, equities analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 2nd will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.88%. The ex-dividend date is Friday, May 2nd. Entergy's dividend payout ratio (DPR) is presently 77.92%.

Entergy 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.