Viawealth LLC Has $1.04 Million Holdings in Entergy Corporation (NYSE:ETR)

Key Points

• Viawealth LLC reduced its holdings in Entergy Corporation by 26.2%, now owning $1.04 million worth of stock after selling 4,308 shares in the first quarter.
• Entergy Corporation's quarterly earnings surpassed analysts' expectations, reporting $0.82 earnings per share compared to the consensus estimate of $0.60.
• The company has announced a quarterly dividend of $0.60 per share, with an annualized yield of 2.77%, payable on September 2nd to investors of record on August 13th.

Viawealth LLC lowered its stake in Entergy Corporation (NYSE:ETR - Free Report) by 26.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,152 shares of the utilities provider's stock after selling 4,308 shares during the period. Viawealth LLC's holdings in Entergy were worth $1,039,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of America Corp DE increased its stake 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 valued at $1,334,034,000 after buying an additional 10,347,926 shares during the period. Ameriprise Financial Inc. raised its holdings in 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 purchasing an additional 5,368,396 shares during the last quarter. FMR LLC raised its holdings in 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 purchasing an additional 5,998,760 shares during the last quarter. Geode Capital Management LLC raised its holdings in Entergy by 106.2% during the 4th quarter. Geode Capital Management LLC now owns 10,236,816 shares of the utilities provider's stock worth $774,103,000 after purchasing an additional 5,271,559 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in Entergy by 76.3% during the 4th quarter. Franklin Resources Inc. now owns 10,079,631 shares of the utilities provider's stock worth $764,238,000 after purchasing an additional 4,360,772 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company's stock.

Entergy Stock Down 1.7%

ETR stock opened at $86.69 on Tuesday. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.82 and a quick ratio of 0.55. The stock has a market capitalization of $37.34 billion, a P/E ratio of 28.15, a P/E/G ratio of 2.40 and a beta of 0.59. The business has a 50-day moving average of $83.01 and a 200-day moving average of $82.92. Entergy Corporation has a fifty-two week low of $56.47 and a fifty-two week high of $89.35.

Entergy (NYSE:ETR - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.22. Entergy had a return on equity of 11.43% and a net margin of 11.26%. The firm had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the firm posted $0.54 EPS. On average, sell-side analysts anticipate 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 will be paid on Tuesday, September 2nd. Investors of record on Wednesday, August 13th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Wednesday, August 13th. Entergy's payout ratio is 77.92%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ETR shares. KeyCorp boosted their price target on shares of Entergy from $85.00 to $88.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Barclays lowered their target price on shares of Entergy from $91.00 to $87.00 and set an "overweight" rating for the company in a report on Thursday, July 10th. Raymond James Financial assumed coverage on shares of Entergy in a report on Friday, June 13th. They set a "market perform" rating for the company. JPMorgan Chase & Co. lifted their price objective on Entergy from $100.00 to $102.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Finally, BMO Capital Markets lifted their price objective on Entergy from $89.00 to $93.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $86.46.

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.

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