Patton Fund Management Inc. Decreases Holdings in Entergy Corporation (NYSE:ETR)

Patton Fund Management Inc. reduced its position in Entergy Corporation (NYSE:ETR - Free Report) by 22.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,185 shares of the utilities provider's stock after selling 19,327 shares during the period. Entergy comprises 1.4% of Patton Fund Management Inc.'s investment portfolio, making the stock its 14th biggest position. Patton Fund Management Inc.'s holdings in Entergy were worth $5,658,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ETR. NBT Bank N A NY raised its stake in shares of Entergy by 100.0% during 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. Fortis Group Advisors LLC raised its position in Entergy by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider's stock worth $26,000 after acquiring an additional 172 shares during the last quarter. Grove Bank & Trust lifted its holdings in shares of Entergy by 188.5% in the first quarter. Grove Bank & Trust now owns 352 shares of the utilities provider's stock valued at $30,000 after purchasing an additional 230 shares in the last quarter. Duncker Streett & Co. Inc. grew its position in shares of Entergy by 100.0% in the fourth quarter. Duncker Streett & Co. Inc. now owns 358 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 179 shares during the last quarter. Finally, Sandy Spring Bank raised its position in shares of Entergy by 100.0% during the 4th quarter. Sandy Spring Bank now owns 358 shares of the utilities provider's stock worth $27,000 after purchasing an additional 179 shares during the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on ETR. JPMorgan Chase & Co. raised their price target on Entergy from $87.00 to $98.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 11th. Barclays lifted their price objective on Entergy from $88.00 to $91.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Raymond James initiated coverage on shares of Entergy in a report on Friday. They issued a "market perform" rating on the stock. KeyCorp upgraded shares of Entergy from a "sector weight" rating to an "overweight" rating and set a $85.00 price target for the company in a report on Wednesday, May 14th. Finally, UBS Group upped their price objective 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. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Entergy currently has an average rating of "Moderate Buy" and a consensus target price of $86.04.

Entergy Stock Performance

NYSE ETR opened at $81.70 on Tuesday. The business's 50-day simple moving average is $82.66 and its 200-day simple moving average is $81.26. The firm has a market capitalization of $35.19 billion, a P/E ratio of 33.55, a P/E/G ratio of 2.34 and a beta of 0.59. Entergy Corporation has a 1-year low of $52.07 and a 1-year high of $88.38. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.72 and a quick ratio 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 net margin of 8.90% and a return on equity of 10.68%. The firm had revenue of $3.02 billion for the quarter, compared to analysts' expectations of $3.13 billion. During the same period in the previous year, the company posted $0.54 earnings per share. Equities analysts predict that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 2nd were paid a $0.60 dividend. The ex-dividend date was Friday, May 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.94%. Entergy's dividend payout ratio (DPR) is currently 77.92%.

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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