Vennlight Capital Management LP Makes New $11.26 Million Investment in Entergy Corporation (NYSE:ETR)

Vennlight Capital Management LP bought a new stake in Entergy Corporation (NYSE:ETR - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 148,450 shares of the utilities provider's stock, valued at approximately $11,255,000. Entergy comprises 10.7% of Vennlight Capital Management LP's investment portfolio, making the stock its 2nd biggest position.

Several other hedge funds have also made changes to their positions in ETR. Vanguard Group Inc. increased its stake in Entergy by 101.9% during the fourth quarter. Vanguard Group Inc. now owns 52,133,646 shares of the utilities provider's stock worth $3,952,773,000 after acquiring an additional 26,312,267 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Entergy by 142.8% during the fourth quarter. Bank of America Corp DE now owns 17,594,747 shares of the utilities provider's stock worth $1,334,034,000 after buying an additional 10,347,926 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Entergy by 71.4% during the fourth quarter. Ameriprise Financial Inc. now owns 12,884,421 shares of the utilities provider's stock worth $976,895,000 after buying an additional 5,368,396 shares during the period. FMR LLC raised its holdings in shares of Entergy by 90.7% in the 4th quarter. FMR LLC now owns 12,612,407 shares of the utilities provider's stock valued at $956,273,000 after buying an additional 5,998,760 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its stake in 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. Hedge funds and other institutional investors own 88.07% of the company's stock.

Entergy Price Performance

NYSE:ETR traded down $1.33 during trading hours on Thursday, reaching $81.24. 1,905,177 shares of the company traded hands, compared to its average volume of 3,679,277. 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 is $83.02 and its 200-day moving average is $80.27. The stock has a market cap of $35.00 billion, a P/E ratio of 33.36, a P/E/G ratio of 2.34 and a beta of 0.62. Entergy Corporation has a 1-year low of $52.07 and a 1-year high of $88.38.

Entergy (NYSE:ETR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $0.82 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 10.68% and a net margin of 8.90%. During the same quarter last year, the company earned $0.54 earnings per share. Equities research analysts expect that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Friday, May 2nd will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, May 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.95%. Entergy's dividend payout ratio (DPR) is presently 77.92%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ETR. KeyCorp raised shares of Entergy from a "sector weight" rating to an "overweight" rating and set a $85.00 price target on the stock in a research report on Wednesday, May 14th. Evercore ISI increased their target price on shares of Entergy from $75.00 to $86.00 and gave the stock an "in-line" rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. raised their price target on shares of Entergy from $87.00 to $98.00 and gave the company an "overweight" rating in a research report on Tuesday, March 11th. LADENBURG THALM/SH SH raised Entergy from a "neutral" rating to a "buy" rating and set a $86.50 target price for the company in a report on Thursday, January 30th. Finally, Morgan Stanley restated an "overweight" rating on shares of Entergy in a research note on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Entergy currently has a consensus rating of "Moderate Buy" and an average target price 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.