Entergy Corporation (NYSE:ETR) Stake Lifted by TCTC Holdings LLC

TCTC Holdings LLC increased its stake in shares of Entergy Corporation (NYSE:ETR) by 100.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,922 shares of the utilities provider’s stock after buying an additional 2,461 shares during the quarter. TCTC Holdings LLC’s holdings in Entergy were worth $373,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ETR. Franklin Resources Inc. grew its stake in Entergy by 53.0% during the 3rd quarter. Franklin Resources Inc. now owns 5,718,859 shares of the utilities provider’s stock worth $754,318,000 after buying an additional 1,981,611 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Entergy by 139.5% in the fourth quarter. Jennison Associates LLC now owns 2,423,556 shares of the utilities provider’s stock worth $183,754,000 after purchasing an additional 1,411,473 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Entergy by 105.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,748,828 shares of the utilities provider’s stock worth $208,416,000 after purchasing an additional 1,408,476 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Entergy by 60.6% in the third quarter. JPMorgan Chase & Co. now owns 3,589,727 shares of the utilities provider’s stock worth $472,444,000 after purchasing an additional 1,354,355 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Entergy in the fourth quarter worth $101,133,000. 88.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ETR shares. JPMorgan Chase & Co. increased their price target on Entergy from $87.00 to $98.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. KeyCorp cut Entergy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Scotiabank decreased their price target on Entergy from $165.00 to $82.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 7th. Wells Fargo & Company raised their target price on Entergy from $85.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Finally, UBS Group raised their target price on Entergy from $72.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $84.11.

Entergy Trading Up 2.6 %

Shares of NYSE ETR opened at $85.00 on Monday. Entergy Corporation has a 12 month low of $50.19 and a 12 month high of $88.38. The company has a market cap of $36.59 billion, a price-to-earnings ratio of 34.91, a P/E/G ratio of 2.34 and a beta of 0.68. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 1.81. The business has a fifty day simple moving average of $82.07 and a 200-day simple moving average of $74.32.

Entergy (NYSE:ETR) last announced its earnings results on Tuesday, February 18th. The utilities provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.63 by $0.03. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $3.24 billion. Entergy had a return on equity of 10.68% and a net margin of 8.90%. During the same period in the prior year, the business posted $0.26 earnings per share. Sell-side analysts predict that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 10th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend was Monday, February 10th. Entergy’s dividend payout ratio is currently 98.77%.

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.