Entergy Corporation (NYSE:ETR) Shares Bought by Westover Capital Advisors LLC

Westover Capital Advisors LLC grew its stake in shares of Entergy Corporation (NYSE:ETR) by 100.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,600 shares of the utilities provider’s stock after purchasing an additional 1,800 shares during the quarter. Westover Capital Advisors LLC’s holdings in Entergy were worth $273,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp raised its holdings in Entergy by 1.1% during the third quarter. State Street Corp now owns 11,408,776 shares of the utilities provider’s stock worth $1,501,509,000 after purchasing an additional 128,667 shares in the last quarter. FMR LLC raised its holdings in Entergy by 5.0% during the third quarter. FMR LLC now owns 6,613,647 shares of the utilities provider’s stock worth $870,422,000 after purchasing an additional 315,750 shares in the last quarter. Franklin Resources Inc. raised its holdings in Entergy by 53.0% during the third quarter. Franklin Resources Inc. now owns 5,718,859 shares of the utilities provider’s stock worth $754,318,000 after purchasing an additional 1,981,611 shares in the last quarter. Geode Capital Management LLC raised its holdings in Entergy by 0.8% during the third quarter. Geode Capital Management LLC now owns 4,965,257 shares of the utilities provider’s stock worth $651,206,000 after purchasing an additional 37,279 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Entergy by 60.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,589,727 shares of the utilities provider’s stock valued at $472,444,000 after acquiring an additional 1,354,355 shares during the period. Institutional investors and hedge funds own 88.07% of the company’s stock.

Wall Street Analysts Forecast Growth

ETR has been the topic of a number of recent research reports. UBS Group lifted their target price on shares of Entergy from $72.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Wells Fargo & Company lifted their target price on shares of Entergy from $85.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. BMO Capital Markets lifted their target price on shares of Entergy from $79.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. LADENBURG THALM/SH SH raised shares of Entergy from a “neutral” rating to a “buy” rating and set a $86.50 target price on the stock in a report on Thursday, January 30th. 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 report on Wednesday, February 19th. Six research 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $82.14.

Entergy Price Performance

Shares of NYSE ETR opened at $85.03 on Wednesday. The firm has a market capitalization of $36.60 billion, a P/E ratio of 34.92, a PEG ratio of 2.34 and a beta of 0.68. Entergy Corporation has a one year low of $50.19 and a one year high of $88.38. The company’s fifty day moving average is $81.02 and its two-hundred day moving average is $73.02. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.59 and a current ratio of 0.72.

Entergy (NYSE:ETR) last issued its 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. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $3.24 billion. Entergy had a net margin of 8.90% and a return on equity of 10.68%. During the same period in the previous year, the firm earned $0.26 EPS. Analysts forecast that Entergy Corporation will post 3.88 EPS for the current fiscal 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 given a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $2.40 annualized dividend and a dividend yield of 2.82%. Entergy’s payout ratio is currently 98.77%.

Insiders Place Their Bets

In other Entergy news, insider Deanna D. Rodriguez sold 6,088 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $73.94, for a total transaction of $450,146.72. Following the sale, the insider now directly owns 3,952 shares in the company, valued at approximately $292,210.88. The trade was a 60.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.39% of the company’s stock.

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.