Retirement Planning Co of New England Inc. Takes $355,000 Position in Entergy Corporation (NYSE:ETR)

Retirement Planning Co of New England Inc. purchased a new stake in Entergy Corporation (NYSE:ETR) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,158 shares of the utilities provider’s stock, valued at approximately $355,000.

Several other institutional investors and hedge funds have also made changes to their positions in ETR. Bailard Inc. purchased a new position in Entergy in the first quarter valued at about $222,000. Cullen Frost Bankers Inc. raised its holdings in Entergy by 0.5% in the first quarter. Cullen Frost Bankers Inc. now owns 328,460 shares of the utilities provider’s stock valued at $28,080,000 after buying an additional 1,490 shares during the period. Bryn Mawr Capital Management LLC acquired a new position in shares of Entergy during the first quarter worth about $317,000. Larson Financial Group LLC grew its position in Entergy by 428.2% in the first quarter. Larson Financial Group LLC now owns 544 shares of the utilities provider’s stock valued at $47,000 after acquiring an additional 441 shares in the last quarter. Finally, Wealthfront Advisers LLC lifted its holdings in Entergy by 1.4% in the 1st quarter. Wealthfront Advisers LLC now owns 165,619 shares of the utilities provider’s stock worth $14,159,000 after buying an additional 2,299 shares in the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ETR has been the topic of a number of research analyst reports. Morgan Stanley reduced their target price on Entergy from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 18th. JPMorgan Chase & Co. raised their price objective on Entergy from $100.00 to $102.00 and gave the stock an “overweight” rating in a research note on Tuesday. Raymond James Financial started coverage on shares of Entergy in a report on Friday, June 13th. They issued a “market perform” rating for the company. UBS Group boosted their price objective 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. Finally, Barclays reduced their target price on shares of Entergy from $91.00 to $87.00 and set an “overweight” rating for the company in a research note on Thursday, July 10th. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $86.46.

Entergy Stock Up 1.2%

Shares of ETR stock opened at $84.57 on Friday. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.82 and a quick ratio of 0.55. The stock has a fifty day moving average price of $82.22 and a 200 day moving average price of $82.27. Entergy Corporation has a one year low of $55.01 and a one year high of $88.38. The stock has a market cap of $36.43 billion, a P/E ratio of 27.46, a price-to-earnings-growth ratio of 2.28 and a beta of 0.59.

Entergy (NYSE:ETR) last issued its 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. The company had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.13 billion. Entergy had a net margin of 11.26% and a return on equity of 11.43%. During the same quarter in the previous year, the company earned $0.54 EPS. Analysts predict that Entergy Corporation will post 3.88 earnings per share for the current year.

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.