Allstate Corp Makes New $978,000 Investment in Entergy Corporation (NYSE:ETR)

Allstate Corp purchased a new stake in shares of Entergy Corporation (NYSE:ETR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,896 shares of the utilities provider’s stock, valued at approximately $978,000.

Other hedge funds have also made changes to their positions in the company. Fortis Group Advisors LLC raised its position in Entergy by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider’s stock valued at $26,000 after buying an additional 172 shares during the period. NBT Bank N A NY increased its holdings in shares of Entergy by 100.0% in the 4th quarter. NBT Bank N A NY now owns 340 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 170 shares during the period. Legacy Investment Solutions LLC purchased a new stake in shares of Entergy in the third quarter worth approximately $27,000. Duncker Streett & Co. Inc. boosted its holdings in shares of Entergy by 100.0% during the fourth 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. Finally, Sandy Spring Bank grew its position in Entergy by 100.0% during the fourth quarter. Sandy Spring Bank now owns 358 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 179 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Entergy Trading Up 1.4 %

Shares of NYSE:ETR opened at $85.63 on Tuesday. Entergy Corporation has a 52-week low of $50.19 and a 52-week high of $88.38. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.59 and a current ratio of 0.72. The company has a market cap of $36.89 billion, a P/E ratio of 35.17, a P/E/G ratio of 2.34 and a beta of 0.68. The stock’s 50-day moving average is $83.41 and its 200-day moving average is $76.13.

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

Entergy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 10th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date was Monday, February 10th. Entergy’s dividend payout ratio (DPR) is presently 98.77%.

Analyst Upgrades and Downgrades

ETR has been the subject of a number of research reports. UBS Group lifted their target price on shares of Entergy from $86.00 to $96.00 and gave the company a “buy” rating in a research note on Friday, March 21st. KeyCorp lowered Entergy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. Morgan Stanley lifted their price target on Entergy from $75.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. Wells Fargo & Company increased their price objective on Entergy from $85.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Finally, Evercore ISI lifted their target price on shares of Entergy from $75.00 to $86.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Entergy currently has an average rating of “Moderate Buy” and an average price target of $84.75.

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.