Mufg Securities Americas Inc. Buys Shares of 6,331 Entergy Corporation (NYSE:ETR)

Mufg Securities Americas Inc. acquired a new stake in Entergy Corporation (NYSE:ETR) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,331 shares of the utilities provider’s stock, valued at approximately $480,000.

A number of other hedge funds also recently made changes to their positions in ETR. Fortis Group Advisors LLC grew its position 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 worth $26,000 after buying an additional 172 shares during the period. NBT Bank N A NY raised its holdings in shares of Entergy by 100.0% in the fourth 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 last quarter. Duncker Streett & Co. Inc. lifted its position in shares of Entergy by 100.0% during the 4th quarter. Duncker Streett & Co. Inc. now owns 358 shares of the utilities provider’s stock worth $27,000 after buying an additional 179 shares in the last quarter. Sandy Spring Bank boosted its position in Entergy by 100.0% in the fourth quarter. Sandy Spring Bank now owns 358 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 179 shares during the last quarter. Finally, Riverview Trust Co grew its position in Entergy by 100.0% during the fourth quarter. Riverview Trust Co now owns 364 shares of the utilities provider’s stock valued at $28,000 after buying an additional 182 shares during the period. 88.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ETR has been the topic of several research reports. KeyCorp upgraded Entergy from a “sector weight” rating to an “overweight” rating and set a $85.00 target price on the stock in a research note on Wednesday. Wells Fargo & Company boosted their price target on shares of Entergy from $85.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. UBS Group lifted their target price 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. LADENBURG THALM/SH SH upgraded Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price objective for the company in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Entergy from $87.00 to $98.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 11th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Entergy has a consensus rating of “Moderate Buy” and an average target price of $86.04.

Entergy Trading Up 1.5%

Shares of ETR opened at $81.75 on Friday. Entergy Corporation has a 1-year low of $52.07 and a 1-year high of $88.38. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 1.81. The firm’s 50-day moving average price is $83.02 and its 200-day moving average price is $79.94. The firm has a market capitalization of $35.22 billion, a price-to-earnings ratio of 33.57, a PEG ratio of 2.34 and a beta of 0.62.

Entergy (NYSE:ETR) last posted its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $0.82 earnings per share 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 for the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the previous year, the firm posted $0.54 EPS. Sell-side analysts anticipate that Entergy Corporation will post 3.88 EPS for the current 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. The ex-dividend date is Friday, May 2nd. This represents a $2.40 annualized dividend and a dividend yield of 2.94%. Entergy’s payout ratio is currently 77.92%.

About Entergy

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.