Tounjian Advisory Partners LLC Acquires New Shares in Entergy Corporation (NYSE:ETR)

Tounjian Advisory Partners LLC bought a new position in Entergy Corporation (NYSE:ETR) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 17,650 shares of the utilities provider’s stock, valued at approximately $1,509,000.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Entergy by 101.9% in the 4th quarter. Vanguard Group Inc. now owns 52,133,646 shares of the utilities provider’s stock worth $3,952,773,000 after acquiring an additional 26,312,267 shares during the period. Bank of America Corp DE increased its position in Entergy by 142.8% in the 4th quarter. Bank of America Corp DE now owns 17,594,747 shares of the utilities provider’s stock valued at $1,334,034,000 after acquiring an additional 10,347,926 shares during the period. FMR LLC raised its stake in Entergy by 90.7% during the 4th 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. grew its stake in shares of Entergy by 71.4% in the fourth 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 in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Entergy by 106.2% during the fourth quarter. Geode Capital Management LLC now owns 10,236,816 shares of the utilities provider’s stock valued at $774,103,000 after purchasing an additional 5,271,559 shares during the period. 88.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on ETR. Morgan Stanley reissued an “overweight” rating on shares of Entergy in a research note on Wednesday, April 23rd. KeyCorp raised 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 company an “overweight” rating in a report on Tuesday, March 11th. Wells Fargo & Company boosted their price target on shares of Entergy from $85.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Finally, Evercore ISI boosted their target price on shares of Entergy from $75.00 to $86.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Four research 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $86.04.

Entergy Stock Performance

Shares of ETR stock opened at $82.11 on Monday. The stock’s fifty day simple moving average is $82.54 and its 200-day simple moving average is $81.06. The company has a market capitalization 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 current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 1.81. Entergy Corporation has a 1-year low of $52.07 and a 1-year high of $88.38.

Entergy (NYSE:ETR) last released its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.22. The firm had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Entergy had a return on equity of 10.68% and a net margin of 8.90%. During the same quarter last year, the firm earned $0.54 earnings per share. On average, sell-side analysts predict that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Announces Dividend

The business 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 was Friday, May 2nd. This represents a $2.40 annualized dividend and a dividend yield of 2.92%. Entergy’s dividend payout ratio (DPR) is presently 77.92%.

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.