Merewether Investment Management LP Acquires Shares of 1,419,507 Entergy Corporation (NYSE:ETR)

Merewether Investment Management LP acquired a new stake in Entergy Corporation (NYSE:ETR - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,419,507 shares of the utilities provider's stock, valued at approximately $107,627,000. Entergy comprises approximately 4.3% of Merewether Investment Management LP's investment portfolio, making the stock its 6th largest position. Merewether Investment Management LP owned 0.33% of Entergy at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of 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 purchasing an additional 26,312,267 shares during the last quarter. Bank of America Corp DE grew its stake in shares of 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 in the last quarter. Ameriprise Financial Inc. grew its stake in shares of 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 in the last quarter. FMR LLC grew its stake in shares of 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 in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Entergy by 66.7% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,042,159 shares of the utilities provider's stock valued at $837,216,000 after acquiring an additional 4,418,528 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ETR has been the topic of several research reports. UBS Group upped their price target on shares of Entergy from $86.00 to $96.00 and gave the company a "buy" rating in a research note on Friday, March 21st. BMO Capital Markets upped their price target on shares of Entergy from $89.00 to $93.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. upped their price target on shares of Entergy from $87.00 to $98.00 and gave the company an "overweight" rating in a research note on Tuesday, March 11th. Wells Fargo & Company upped their price target on shares of Entergy from $85.00 to $97.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. Finally, Barclays upped their price target 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. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Entergy currently has a consensus rating of "Moderate Buy" and an average price target of $85.75.

Entergy Trading Down 2.0%

ETR opened at $81.27 on Tuesday. The stock has a market capitalization of $35.01 billion, a price-to-earnings ratio of 33.38, a P/E/G ratio of 2.34 and a beta of 0.62. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 1.81. Entergy Corporation has a twelve month low of $52.07 and a twelve month high of $88.38. The company has a 50-day simple moving average of $83.00 and a 200 day simple moving average of $79.83.

Entergy (NYSE:ETR - Get Free Report) last posted its earnings results on Tuesday, April 29th. The utilities provider reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.60 by $0.22. The firm had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $3.13 billion. Entergy had a net margin of 8.90% and a return on equity of 10.68%. During the same quarter in the prior year, the business earned $0.54 earnings per share. Analysts predict 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 will be paid on Monday, June 2nd. Investors of record on Friday, May 2nd will be issued a $0.60 dividend. The ex-dividend date is Friday, May 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 2.95%. Entergy's dividend payout ratio (DPR) is presently 77.92%.

Entergy 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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