Entergy Corporation (NYSE:ETR) Sees Large Drop in Short Interest

Entergy Corporation (NYSE:ETR - Get Free Report) was the recipient of a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 11,400,000 shares, a decline of 15.2% from the March 31st total of 13,440,000 shares. Currently, 2.7% of the shares of the company are sold short. Based on an average daily volume of 4,490,000 shares, the short-interest ratio is presently 2.5 days.

Entergy Stock Down 0.5 %

ETR stock traded down $0.44 during midday trading on Tuesday, hitting $83.95. The company's stock had a trading volume of 3,609,888 shares, compared to its average volume of 3,673,381. The firm has a 50-day simple moving average of $83.29 and a 200-day simple moving average of $79.30. 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 has a 52-week low of $52.07 and a 52-week high of $88.38. The firm has a market capitalization of $36.16 billion, a P/E ratio of 34.48, a PEG ratio of 2.34 and a beta of 0.62.

Entergy (NYSE:ETR - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.22. The business 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 period in the previous year, the company earned $0.54 EPS. As a group, equities analysts forecast that Entergy will post 3.88 EPS for the current year.

Entergy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Friday, May 2nd will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend is Friday, May 2nd. Entergy's payout ratio is currently 77.92%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ETR shares. Evercore ISI lifted their price target on Entergy from $75.00 to $86.00 and gave the company an "in-line" rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. boosted their price target on Entergy from $87.00 to $98.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 11th. LADENBURG THALM/SH SH upgraded Entergy from a "neutral" rating to a "buy" rating and set a $86.50 price objective on the stock in a report on Thursday, January 30th. Scotiabank reduced their target price on shares of Entergy from $165.00 to $82.00 and set a "sector perform" rating for the company in a research report on Tuesday, January 7th. Finally, Barclays boosted their price target on shares of Entergy from $88.00 to $91.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $85.75.

Hedge Funds Weigh In On Entergy

A number of institutional investors have recently modified their holdings of ETR. Fortis Group Advisors LLC increased its stake in shares of Entergy by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider's stock worth $26,000 after acquiring an additional 172 shares during the period. 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 worth $26,000 after purchasing an additional 170 shares during the last quarter. Duncker Streett & Co. Inc. boosted its stake in shares of Entergy by 100.0% during the fourth quarter. Duncker Streett & Co. Inc. now owns 358 shares of the utilities provider's stock valued at $27,000 after acquiring an additional 179 shares during the last quarter. Sandy Spring Bank raised its position in shares of Entergy by 100.0% in the fourth quarter. Sandy Spring Bank now owns 358 shares of the utilities provider's stock valued at $27,000 after buying an additional 179 shares during the last quarter. Finally, Glen Eagle Advisors LLC lifted its stake in shares of Entergy by 100.0% during the 4th quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider's stock worth $27,000 after purchasing an additional 180 shares during the period. 88.07% of the stock is owned by institutional investors and hedge funds.

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.