Summit Securities Group LLC Invests $49,000 in Entergy Corporation (NYSE:ETR)

Summit Securities Group LLC purchased a new stake in Entergy Corporation (NYSE:ETR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 640 shares of the utilities provider’s stock, valued at approximately $49,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hall Laurie J Trustee increased its position in shares of Entergy by 50.0% during the fourth quarter. Hall Laurie J Trustee now owns 450 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 150 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Entergy by 0.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 29,336 shares of the utilities provider’s stock valued at $2,224,000 after purchasing an additional 162 shares during the last quarter. NBT Bank N A NY increased its holdings in Entergy by 100.0% during the 4th quarter. NBT Bank N A NY now owns 340 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 170 shares in the last quarter. Fortis Group Advisors LLC raised its stake in shares of Entergy by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 172 shares during the last quarter. Finally, Duncker Streett & Co. Inc. lifted its holdings in shares of Entergy by 100.0% in the fourth quarter. Duncker Streett & Co. Inc. now owns 358 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 179 shares in the last quarter. Institutional investors own 88.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on ETR. BMO Capital Markets increased their price objective on shares of Entergy from $79.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Evercore ISI increased their price target on Entergy from $75.00 to $86.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. KeyCorp cut Entergy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. Morgan Stanley raised their target price on Entergy from $75.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, March 20th. Finally, UBS Group boosted their price target on shares of Entergy from $86.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, March 21st. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $84.75.

Entergy Stock Performance

NYSE ETR opened at $84.38 on Monday. The company’s 50 day simple moving average is $83.34 and its two-hundred day simple moving average is $75.96. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.72 and a quick ratio of 0.59. Entergy Corporation has a 1 year low of $50.19 and a 1 year high of $88.38. The stock has a market capitalization of $36.35 billion, a PE ratio of 34.65, a P/E/G ratio of 2.34 and a beta of 0.68.

Entergy (NYSE:ETR) last issued its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. The company had revenue of $2.74 billion for 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 quarter last year, the business posted $0.26 earnings per share. Analysts predict that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 10th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.84%. The ex-dividend date was Monday, February 10th. Entergy’s dividend payout ratio (DPR) is 98.77%.

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.