Signature Wealth Management Group Acquires 30,376 Shares of Entergy Corporation (NYSE:ETR)

Signature Wealth Management Group increased its holdings in Entergy Corporation (NYSE:ETR) by 83.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,845 shares of the utilities provider’s stock after acquiring an additional 30,376 shares during the period. Entergy comprises 2.0% of Signature Wealth Management Group’s investment portfolio, making the stock its 9th biggest holding. Signature Wealth Management Group’s holdings in Entergy were worth $5,068,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fortis Group Advisors LLC raised its holdings in shares of Entergy by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 172 shares during the last quarter. NBT Bank N A NY increased its stake 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 buying an additional 170 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in Entergy in the 3rd quarter valued at about $27,000. Duncker Streett & Co. Inc. increased its stake in Entergy by 100.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 358 shares of the utilities provider’s stock valued at $27,000 after buying an additional 179 shares during the last quarter. Finally, Riverview Trust Co increased its stake in Entergy by 100.0% in the 4th quarter. Riverview Trust Co now owns 364 shares of the utilities provider’s stock valued at $28,000 after buying an additional 182 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Entergy Stock Up 2.6 %

ETR opened at $85.00 on Friday. The company has a fifty day moving average price of $82.07 and a 200-day moving average price of $74.21. The firm has a market capitalization of $36.59 billion, a P/E ratio of 34.91, a price-to-earnings-growth ratio of 2.34 and a beta of 0.68. 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 one year low of $50.19 and a one year high of $88.38.

Entergy (NYSE:ETR) last released its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.66 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 period in the previous year, the business earned $0.26 EPS. Equities research analysts expect that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 10th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.82%. The ex-dividend date was Monday, February 10th. Entergy’s dividend payout ratio (DPR) is 98.77%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Scotiabank reduced their target price on shares of Entergy from $165.00 to $82.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 7th. KeyCorp downgraded shares of Entergy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. BMO Capital Markets increased their target price on shares of Entergy from $79.00 to $94.00 and gave the company an “outperform” rating in a research 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 for the company in a research report on Thursday, January 30th. Finally, Wells Fargo & Company increased their target price on shares of Entergy from $85.00 to $97.00 and gave the company an “overweight” rating in a research report 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.11.

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.