Rhumbline Advisers Purchases 63,473 Shares of Entergy Corporation (NYSE:ETR)

Rhumbline Advisers lifted its position in shares of Entergy Corporation (NYSE:ETR) by 8.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 798,615 shares of the utilities provider’s stock after purchasing an additional 63,473 shares during the quarter. Rhumbline Advisers owned about 0.19% of Entergy worth $68,273,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Fortis Group Advisors LLC boosted its position 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 valued at $26,000 after purchasing an additional 172 shares in the last quarter. NBT Bank N A NY boosted its position in shares of Entergy by 100.0% during 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 in the last quarter. Duncker Streett & Co. Inc. boosted its position 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 purchasing an additional 179 shares in the last quarter. Sandy Spring Bank boosted its position in shares of Entergy by 100.0% during the fourth quarter. Sandy Spring Bank now owns 358 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 179 shares in the last quarter. Finally, Glen Eagle Advisors LLC raised its stake in Entergy by 100.0% during the fourth quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider’s stock valued at $27,000 after buying an additional 180 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors.

Entergy Stock Performance

Shares of ETR opened at $83.11 on Tuesday. 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 Corporation has a one year low of $52.07 and a one year high of $88.38. The firm has a market capitalization of $35.80 billion, a P/E ratio of 34.13, a PEG ratio of 2.34 and a beta of 0.62. The business has a fifty day moving average of $82.75 and a 200 day moving average of $80.86.

Entergy (NYSE:ETR) last released its quarterly 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 company posted $0.54 earnings per share. As a group, 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 was paid on Monday, June 2nd. Shareholders of record on Friday, May 2nd were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.89%. The ex-dividend date was Friday, May 2nd. Entergy’s dividend payout ratio is presently 77.92%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ETR shares. JPMorgan Chase & Co. lifted their price objective on Entergy from $87.00 to $98.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th. KeyCorp upgraded Entergy from a “sector weight” rating to an “overweight” rating and set a $85.00 price target for the company in a research note on Wednesday, May 14th. Barclays boosted their price target on Entergy from $88.00 to $91.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. Wells Fargo & Company boosted their price target on Entergy from $85.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Finally, UBS Group boosted their price target on Entergy from $86.00 to $96.00 and gave the stock a “buy” rating in a research note on Friday, March 21st. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $86.04.

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.