Entergy Corporation (NYSE:ETR) Shares Bought by Portside Wealth Group LLC

Portside Wealth Group LLC raised its holdings in Entergy Corporation (NYSE:ETR - Free Report) by 97.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,576 shares of the utilities provider's stock after purchasing an additional 5,727 shares during the period. Portside Wealth Group LLC's holdings in Entergy were worth $990,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ETR. Vanguard Group Inc. raised its holdings in Entergy by 101.9% in the fourth quarter. Vanguard Group Inc. now owns 52,133,646 shares of the utilities provider's stock valued at $3,952,773,000 after acquiring 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% in the 4th quarter. Bank of America Corp DE now owns 17,594,747 shares of the utilities provider's stock worth $1,334,034,000 after purchasing an additional 10,347,926 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Entergy by 71.4% in the 4th quarter. Ameriprise Financial Inc. now owns 12,884,421 shares of the utilities provider's stock valued at $976,895,000 after purchasing an additional 5,368,396 shares in the last quarter. FMR LLC lifted its position in shares of Entergy by 90.7% during the fourth quarter. FMR LLC now owns 12,612,407 shares of the utilities provider's stock worth $956,273,000 after purchasing an additional 5,998,760 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its stake in Entergy by 66.7% in 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 in the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Evercore ISI boosted their price objective on Entergy from $75.00 to $86.00 and gave the company an "in-line" rating in a report on Wednesday, February 19th. Wells Fargo & Company upped their price target on Entergy from $85.00 to $97.00 and gave the company an "overweight" rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. lifted their price objective on shares of Entergy from $87.00 to $98.00 and gave the stock an "overweight" rating in a report on Tuesday, March 11th. UBS Group increased their target price on shares of Entergy from $86.00 to $96.00 and gave the stock a "buy" rating in a report on Friday, March 21st. Finally, KeyCorp raised 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. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Entergy currently has an average rating of "Moderate Buy" and a consensus price target of $86.04.

Entergy Stock Performance

Entergy stock traded up $0.31 during midday trading on Friday, reaching $82.11. 2,381,510 shares of the stock traded hands, compared to its average volume of 3,621,750. Entergy Corporation has a fifty-two week low of $52.07 and a fifty-two week high of $88.38. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 1.81. The firm has a market cap of $35.37 billion, a price-to-earnings ratio of 33.72, a PEG ratio of 2.34 and a beta of 0.62. The firm has a fifty day moving average price of $82.61 and a two-hundred day moving average price of $80.93.

Entergy (NYSE:ETR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the previous year, the firm posted $0.54 earnings per share. On average, equities research analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 2nd were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend was Friday, May 2nd. Entergy's dividend payout ratio (DPR) is 77.92%.

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.