Magellan Asset Management Ltd Acquires 117,809 Shares of Entergy Corporation (NYSE:ETR)

Magellan Asset Management Ltd raised its position in shares of Entergy Corporation (NYSE:ETR) by 64.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 299,505 shares of the utilities provider’s stock after acquiring an additional 117,809 shares during the period. Magellan Asset Management Ltd owned approximately 0.07% of Entergy worth $22,708,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Fortis Group Advisors LLC increased its stake in Entergy by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 172 shares during the period. NBT Bank N A NY increased its position in 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 acquiring an additional 170 shares in the last quarter. Legacy Investment Solutions LLC bought a new position in Entergy in the 3rd quarter worth approximately $27,000. Duncker Streett & Co. Inc. boosted its holdings in 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 acquiring an additional 179 shares during the last quarter. Finally, Sandy Spring Bank boosted its stake in shares of Entergy by 100.0% in the 4th quarter. Sandy Spring Bank now owns 358 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 179 shares during the last quarter. 88.07% of the stock is owned by institutional investors.

Entergy Stock Performance

ETR opened at $86.67 on Thursday. The stock has a market cap of $37.34 billion, a P/E ratio of 35.59, a P/E/G ratio of 2.34 and a beta of 0.56. The firm has a fifty day moving average price of $83.53 and a 200 day moving average price of $76.36. 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.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. Entergy had a net margin of 8.90% and a return on equity of 10.68%. The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $3.24 billion. During the same quarter in the prior year, the firm posted $0.26 earnings per share. Equities research analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 10th were paid a $0.60 dividend. The ex-dividend date was Monday, February 10th. This represents a $2.40 annualized dividend and a dividend yield of 2.77%. Entergy’s dividend payout ratio (DPR) is currently 98.77%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. UBS Group upped their price target on shares of Entergy from $86.00 to $96.00 and gave the company a “buy” rating in a report on Friday, March 21st. Evercore ISI lifted their price objective on shares of Entergy from $75.00 to $86.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. BMO Capital Markets raised their price target on Entergy from $79.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. StockNews.com upgraded Entergy from a “sell” rating to a “hold” rating in a research note on Sunday, December 29th. Finally, Scotiabank cut their price objective on shares of Entergy from $165.00 to $82.00 and set a “sector perform” rating for the company in a report on Tuesday, January 7th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Entergy has a consensus rating of “Moderate Buy” and an average target price of $84.75.

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.