Patriot Financial Group Insurance Agency LLC Acquires 1,429 Shares of Entergy Corporation (NYSE:ETR)

Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Entergy Corporation (NYSE:ETR) by 12.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 12,635 shares of the utilities provider’s stock after purchasing an additional 1,429 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Entergy were worth $1,080,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ETR. Vanguard Group Inc. increased its position in Entergy by 101.9% during the 4th quarter. Vanguard Group Inc. now owns 52,133,646 shares of the utilities provider’s stock valued at $3,952,773,000 after buying an additional 26,312,267 shares in 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 worth $1,334,034,000 after acquiring an additional 10,347,926 shares during the last quarter. FMR LLC increased its holdings in shares of Entergy by 90.7% during 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. Ameriprise Financial Inc. raised its position in shares of Entergy by 71.4% in the 4th quarter. Ameriprise Financial Inc. now owns 12,884,421 shares of the utilities provider’s stock worth $976,895,000 after purchasing an additional 5,368,396 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Entergy by 106.2% in the 4th quarter. Geode Capital Management LLC now owns 10,236,816 shares of the utilities provider’s stock worth $774,103,000 after purchasing an additional 5,271,559 shares in the last quarter. 88.07% of the stock is owned by institutional investors.

Entergy Stock Up 0.4%

ETR stock opened at $82.11 on Monday. The company has a market cap of $35.37 billion, a price-to-earnings ratio of 33.72, a P/E/G ratio of 2.34 and a beta of 0.59. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.59 and a current ratio of 0.72. The business’s 50-day moving average is $82.54 and its two-hundred day moving average is $81.06. Entergy Corporation has a fifty-two week low of $52.07 and a fifty-two week high of $88.38.

Entergy (NYSE:ETR) last released its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.60 by $0.22. Entergy had a net margin of 8.90% and a return on equity of 10.68%. The firm had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the prior year, the firm earned $0.54 EPS. As a group, analysts forecast that Entergy Corporation will post 3.88 earnings per share 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 given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date was Friday, May 2nd. Entergy’s payout ratio is 77.92%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. UBS Group lifted their target price on shares of Entergy from $86.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, March 21st. Morgan Stanley restated an “overweight” rating on shares of Entergy in a report on Wednesday, April 23rd. BMO Capital Markets lifted their target price on Entergy from $89.00 to $93.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. 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. Finally, Wells Fargo & Company increased their price objective on Entergy from $85.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.04.

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.