First American Bank Grows Stock Position in Entergy Corporation (NYSE:ETR)

First American Bank grew its holdings in shares of Entergy Corporation (NYSE:ETR) by 32.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 36,106 shares of the utilities provider’s stock after purchasing an additional 8,750 shares during the quarter. First American Bank’s holdings in Entergy were worth $3,087,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Acropolis Investment Management LLC grew its stake in shares of Entergy by 0.7% during the 1st quarter. Acropolis Investment Management LLC now owns 17,954 shares of the utilities provider’s stock valued at $1,535,000 after acquiring an additional 129 shares during the period. Gen Wealth Partners Inc grew its stake in shares of Entergy by 27.5% during the 4th quarter. Gen Wealth Partners Inc now owns 668 shares of the utilities provider’s stock valued at $51,000 after acquiring an additional 144 shares during the period. NBT Bank N A NY grew its stake 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 valued at $26,000 after acquiring an additional 170 shares during the period. Legacy Investment Solutions LLC boosted its stake in Entergy by 85.1% in the 4th quarter. Legacy Investment Solutions LLC now owns 374 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 172 shares during the period. Finally, Duncker Streett & Co. Inc. boosted its stake in Entergy by 100.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 358 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 179 shares during the period. 88.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on ETR shares. 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. JPMorgan Chase & Co. upped their price objective on Entergy from $87.00 to $98.00 and gave the stock an “overweight” rating in a report on Tuesday, March 11th. Morgan Stanley decreased their price objective on Entergy from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Wednesday. BMO Capital Markets upped their price objective on Entergy from $89.00 to $93.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Finally, Barclays upped their price objective on Entergy from $88.00 to $91.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $86.25.

Entergy Stock Up 0.1%

Shares of ETR opened at $80.99 on Friday. The company has a market cap of $34.89 billion, a PE ratio of 26.30, a P/E/G ratio of 2.20 and a beta of 0.59. The business has a fifty day moving average of $82.68 and a 200 day moving average of $81.32. Entergy Corporation has a 52-week low of $52.07 and a 52-week high of $88.38. The company has a quick ratio of 0.55, a current ratio of 0.82 and a debt-to-equity ratio of 1.91.

Entergy (NYSE:ETR) last released its earnings results on Tuesday, April 29th. The utilities provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.22. Entergy had a return on equity of 11.43% and a net margin of 11.26%. The business had revenue of $3.02 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter last year, the firm posted $0.54 earnings per share. On average, sell-side analysts expect that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 2nd were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $2.40 annualized dividend and a dividend yield of 2.96%. Entergy’s dividend 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.