Peregrine Asset Advisers Inc. Takes Position in Entergy Corporation (NYSE:ETR)

Peregrine Asset Advisers Inc. purchased a new stake in shares of Entergy Corporation (NYSE:ETR - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 27,438 shares of the utilities provider's stock, valued at approximately $2,346,000.

Several other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC increased its stake in shares of Entergy by 275.6% in the 4th quarter. Brighton Jones LLC now owns 9,176 shares of the utilities provider's stock worth $696,000 after acquiring an additional 6,733 shares during the last quarter. Harbour Investments Inc. increased its stake in shares of Entergy by 126.1% in the 4th quarter. Harbour Investments Inc. now owns 2,098 shares of the utilities provider's stock worth $159,000 after acquiring an additional 1,170 shares during the last quarter. Sandy Spring Bank increased 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 acquiring an additional 179 shares during the last quarter. Whittier Trust Co. increased its stake in shares of Entergy by 98.3% in the 4th quarter. Whittier Trust Co. now owns 2,320 shares of the utilities provider's stock worth $176,000 after acquiring an additional 1,150 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in shares of Entergy by 100.5% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,157 shares of the utilities provider's stock worth $88,000 after acquiring an additional 580 shares during the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Morgan Stanley lowered their target price on Entergy from $82.00 to $81.00 and set an "equal weight" rating for the company in a report on Wednesday, June 18th. Barclays lowered their target price on Entergy from $91.00 to $87.00 and set an "overweight" rating for the company in a report on Thursday, July 10th. KeyCorp increased their price target on Entergy from $85.00 to $88.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Raymond James Financial initiated coverage on Entergy in a research report on Friday, June 13th. They issued a "market perform" rating on the stock. Finally, JPMorgan Chase & Co. increased their price target on Entergy from $100.00 to $102.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Entergy currently has a consensus rating of "Moderate Buy" and a consensus target price of $86.46.

Entergy Price Performance

Entergy stock traded up $1.53 during mid-day trading on Tuesday, reaching $88.56. The company had a trading volume of 2,742,930 shares, compared to its average volume of 3,564,257. Entergy Corporation has a fifty-two week low of $55.04 and a fifty-two week high of $88.87. The company has a current ratio of 0.82, a quick ratio of 0.55 and a debt-to-equity ratio of 1.91. The company has a market cap of $38.15 billion, a P/E ratio of 28.75, a P/E/G ratio of 2.35 and a beta of 0.59. The business has a fifty day simple moving average of $82.29 and a 200 day simple moving average of $82.44.

Entergy (NYSE:ETR - Get Free Report) last released its earnings results on Tuesday, April 29th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.22. The business had revenue of $3.02 billion for 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 quarter in the previous year, the business earned $0.54 earnings per share. On average, equities research analysts predict that Entergy Corporation will post 3.88 earnings per share for the current year.

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.