Romano Brothers AND Company Cuts Stake in Entergy Corporation (NYSE:ETR)

Romano Brothers AND Company reduced its holdings in shares of Entergy Corporation (NYSE:ETR - Free Report) by 14.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,954 shares of the utilities provider's stock after selling 4,000 shares during the quarter. Romano Brothers AND Company's holdings in Entergy were worth $1,962,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legacy Financial Advisors Inc. lifted its holdings in shares of Entergy by 60.0% during the fourth 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 in the last quarter. Strategic Financial Concepts LLC purchased a new stake in Entergy during the fourth quarter valued at $4,393,000. LaFleur & Godfrey LLC purchased a new stake in Entergy during the fourth quarter valued at $217,000. Bank of Montreal Can increased its position in Entergy by 74.3% during the fourth quarter. Bank of Montreal Can now owns 670,923 shares of the utilities provider's stock valued at $50,869,000 after acquiring an additional 286,005 shares during the last quarter. Finally, Braun Stacey Associates Inc. increased its position in Entergy by 88.8% during the fourth quarter. Braun Stacey Associates Inc. now owns 360,502 shares of the utilities provider's stock valued at $27,333,000 after acquiring an additional 169,511 shares during the last quarter. 88.07% of the stock is owned by institutional investors.

Entergy Stock Performance

ETR traded up $0.31 during midday trading on Friday, reaching $82.11. The company had a trading volume of 2,381,510 shares, compared to its average volume of 3,619,345. 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 Corporation has a 1 year low of $52.07 and a 1 year high of $88.38. The business has a 50-day moving average of $82.54 and a two-hundred day moving average of $80.98. The company has a market cap of $35.37 billion, a P/E ratio of 33.72, a P/E/G ratio of 2.34 and a beta of 0.62.

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, 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 firm had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $3.13 billion. During the same quarter last year, the business posted $0.54 earnings per share. As a group, equities research analysts predict that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 2nd were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend was Friday, May 2nd. Entergy's dividend payout ratio is currently 77.92%.

Wall Street Analyst Weigh In

ETR has been the subject of a number of research reports. Evercore ISI upped their price objective on Entergy from $75.00 to $86.00 and gave the company an "in-line" rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. upped their price objective on Entergy from $87.00 to $98.00 and gave the company an "overweight" rating in a research report on Tuesday, March 11th. UBS Group upped their price objective on Entergy from $86.00 to $96.00 and gave the company a "buy" rating in a research report on Friday, March 21st. KeyCorp upgraded Entergy from a "sector weight" rating to an "overweight" rating and set a $85.00 price objective for the company in a research report on Wednesday, May 14th. Finally, BMO Capital Markets upped their price target on Entergy from $89.00 to $93.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Four investment 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 company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $86.04.

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.