Signature Wealth Management Group Has $3.12 Million Holdings in Entergy Corporation (NYSE:ETR)

Signature Wealth Management Group cut its holdings in shares of Entergy Corporation (NYSE:ETR - Free Report) by 45.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,462 shares of the utilities provider's stock after selling 30,383 shares during the quarter. Signature Wealth Management Group's holdings in Entergy were worth $3,117,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Entergy by 101.9% in the 4th quarter. Vanguard Group Inc. now owns 52,133,646 shares of the utilities provider's stock valued at $3,952,773,000 after buying an additional 26,312,267 shares during the period. Bank of America Corp DE raised its position in shares of Entergy by 142.8% during 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 acquiring an additional 10,347,926 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Entergy by 71.4% during the 4th quarter. Ameriprise Financial Inc. now owns 12,884,421 shares of the utilities provider's stock worth $976,895,000 after acquiring an additional 5,368,396 shares in the last quarter. FMR LLC raised its position in shares of Entergy by 90.7% during the 4th quarter. FMR LLC now owns 12,612,407 shares of the utilities provider's stock worth $956,273,000 after acquiring an additional 5,998,760 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Entergy by 66.7% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,042,159 shares of the utilities provider's stock worth $837,216,000 after acquiring 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.

Entergy Price Performance

Shares of ETR traded down $0.37 during midday trading on Monday, reaching $81.70. The stock had a trading volume of 2,147,434 shares, compared to its average volume of 3,590,330. Entergy Corporation has a 52 week low of $52.07 and a 52 week 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. The firm's 50 day moving average price is $82.60 and its 200-day moving average price is $81.24. The company 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 (NYSE:ETR - Get Free Report) last issued 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 return on equity of 10.68% and a net margin of 8.90%. The business had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the previous year, the company posted $0.54 earnings per share. On average, analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date was Friday, May 2nd. This represents a $2.40 annualized dividend and a dividend yield of 2.94%. Entergy's dividend payout ratio is presently 77.92%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ETR shares. KeyCorp raised Entergy from a "sector weight" rating to an "overweight" rating and set a $85.00 target price on the stock in a research report on Wednesday, May 14th. Raymond James assumed coverage on Entergy in a research report on Friday. They set a "market perform" rating on the stock. UBS Group lifted their price target on Entergy from $86.00 to $96.00 and gave the stock a "buy" rating in a research report on Friday, March 21st. Morgan Stanley reaffirmed an "overweight" rating on shares of Entergy in a research report on Wednesday, April 23rd. Finally, Evercore ISI lifted their target price on Entergy from $75.00 to $86.00 and gave the company an "in-line" rating in a research note on Wednesday, February 19th. Five investment 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. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $86.04.

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.