Wealthstar Advisors LLC Invests $696,000 in Entergy Corporation (NYSE:ETR)

Wealthstar Advisors LLC acquired a new position in shares of Entergy Corporation (NYSE:ETR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 8,137 shares of the utilities provider's stock, valued at approximately $696,000.

Several other institutional investors have also made changes to their positions in ETR. Vanguard Group Inc. increased its stake 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 during the period. Bank of America Corp DE increased its stake in Entergy by 142.8% in the fourth 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 acquiring an additional 10,347,926 shares during the period. FMR LLC increased its stake in Entergy by 90.7% in the fourth quarter. FMR LLC now owns 12,612,407 shares of the utilities provider's stock valued at $956,273,000 after acquiring an additional 5,998,760 shares during the period. Ameriprise Financial Inc. increased its stake in Entergy by 71.4% in the fourth quarter. Ameriprise Financial Inc. now owns 12,884,421 shares of the utilities provider's stock valued at $976,895,000 after acquiring an additional 5,368,396 shares during the period. Finally, Geode Capital Management LLC increased its stake in Entergy by 106.2% in the fourth quarter. Geode Capital Management LLC now owns 10,236,816 shares of the utilities provider's stock valued at $774,103,000 after acquiring an additional 5,271,559 shares during the period. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Barclays upped their target price on shares of Entergy from $88.00 to $91.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Raymond James Financial initiated coverage on shares of Entergy in a research report on Friday, June 13th. They issued a "market perform" rating on the stock. BMO Capital Markets boosted their price target on shares of Entergy from $89.00 to $93.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. UBS Group boosted their price target on shares of Entergy from $86.00 to $96.00 and gave the company a "buy" rating in a research report on Friday, March 21st. Finally, KeyCorp upgraded 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. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Entergy has an average rating of "Moderate Buy" and a consensus target price of $86.25.

Entergy Price Performance

Shares of ETR stock opened at $82.50 on Friday. Entergy Corporation has a 1 year low of $52.07 and a 1 year high of $88.38. The firm's 50 day moving average is $82.62 and its 200-day moving average is $81.61. The firm has a market capitalization of $35.54 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 2.25 and a beta of 0.59. The company has a current ratio of 0.82, a quick ratio of 0.55 and a debt-to-equity ratio of 1.91.

Entergy (NYSE:ETR - Get Free Report) last announced its earnings results on Tuesday, April 29th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.22. The company had revenue of $3.02 billion for the quarter, compared to analyst estimates of $3.13 billion. Entergy had a net margin of 11.26% and a return on equity of 11.43%. During the same period in the prior year, the business earned $0.54 earnings per share. Sell-side analysts forecast that Entergy Corporation will post 3.88 EPS 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 issued a $0.60 dividend. The ex-dividend date was Friday, May 2nd. This represents a $2.40 annualized dividend and a yield of 2.91%. Entergy's dividend payout ratio is currently 77.92%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.