Lord Abbett & CO. LLC Grows Position in Entergy Corporation (NYSE:ETR)

Lord Abbett & CO. LLC grew its holdings in shares of Entergy Corporation (NYSE:ETR - Free Report) by 98.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,090,648 shares of the utilities provider's stock after buying an additional 1,534,290 shares during the period. Entergy accounts for approximately 0.7% of Lord Abbett & CO. LLC's holdings, making the stock its 27th biggest position. Lord Abbett & CO. LLC owned 0.72% of Entergy worth $234,333,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Hall Laurie J Trustee increased its holdings in Entergy by 50.0% in the 4th quarter. Hall Laurie J Trustee now owns 450 shares of the utilities provider's stock worth $34,000 after acquiring an additional 150 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Entergy by 0.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 29,336 shares of the utilities provider's stock worth $2,224,000 after purchasing an additional 162 shares in the last quarter. NBT Bank N A NY raised its position in shares of Entergy by 100.0% during the 4th quarter. NBT Bank N A NY now owns 340 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 170 shares during the period. Fortis Group Advisors LLC lifted its stake in shares of Entergy by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider's stock valued at $26,000 after buying an additional 172 shares in the last quarter. Finally, Legacy Investment Solutions LLC boosted its holdings in Entergy by 85.1% in the 4th quarter. Legacy Investment Solutions LLC now owns 374 shares of the utilities provider's stock worth $31,000 after buying an additional 172 shares during the period. 88.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on ETR shares. JPMorgan Chase & Co. boosted 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. Barclays boosted their price target on Entergy from $79.00 to $88.00 and gave the stock an "overweight" rating in a report on Tuesday, April 8th. Scotiabank cut their price objective on shares of Entergy from $165.00 to $82.00 and set a "sector perform" rating for the company in a report on Tuesday, January 7th. BMO Capital Markets boosted their target price on shares of Entergy from $89.00 to $93.00 and gave the stock an "outperform" rating in a report on Wednesday. Finally, LADENBURG THALM/SH SH raised shares of Entergy from a "neutral" rating to a "buy" rating and set a $86.50 target price for the company in a research note on Thursday, January 30th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $85.54.

Entergy Trading Down 1.4 %

Shares of Entergy stock traded down $1.19 during trading on Wednesday, hitting $82.34. The stock had a trading volume of 1,106,212 shares, compared to its average volume of 3,663,320. The stock has a market cap of $35.47 billion, a PE ratio of 33.82, a PEG ratio of 2.34 and a beta of 0.56. Entergy Corporation has a 12 month low of $52.07 and a 12 month high of $88.38. The firm's fifty day simple moving average is $83.42 and its 200-day simple moving average is $78.75. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.72 and a quick ratio of 0.59.

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, beating 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 business had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the previous year, the business earned $0.54 earnings per share. As a group, sell-side analysts expect that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 2nd will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Friday, May 2nd. Entergy's dividend payout ratio is presently 98.77%.

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.