Parallel Advisors LLC Has $503,000 Stake in Entergy Corporation (NYSE:ETR)

Parallel Advisors LLC lifted its position in shares of Entergy Corporation (NYSE:ETR) by 199.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,629 shares of the utilities provider’s stock after acquiring an additional 4,416 shares during the quarter. Parallel Advisors LLC’s holdings in Entergy were worth $503,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Cibc World Markets Corp lifted its holdings in Entergy by 133.1% during the 4th quarter. Cibc World Markets Corp now owns 67,599 shares of the utilities provider’s stock worth $5,125,000 after buying an additional 38,596 shares during the period. Signature Wealth Management Group lifted its holdings in Entergy by 83.3% during the 4th quarter. Signature Wealth Management Group now owns 66,845 shares of the utilities provider’s stock worth $5,068,000 after buying an additional 30,376 shares during the period. Glenview Trust co lifted its holdings in Entergy by 98.5% during the 4th quarter. Glenview Trust co now owns 4,288 shares of the utilities provider’s stock worth $325,000 after buying an additional 2,128 shares during the period. Harbour Investments Inc. lifted its holdings in Entergy by 126.1% during the 4th quarter. Harbour Investments Inc. now owns 2,098 shares of the utilities provider’s stock worth $159,000 after buying an additional 1,170 shares during the period. Finally, Corient Private Wealth LLC lifted its holdings in Entergy by 111.2% during the 4th quarter. Corient Private Wealth LLC now owns 148,790 shares of the utilities provider’s stock worth $11,281,000 after buying an additional 78,348 shares during the period. Institutional investors and hedge funds own 88.07% of the company’s stock.

Entergy Stock Performance

Shares of Entergy stock opened at $84.62 on Friday. The company has a market cap of $36.42 billion, a PE ratio of 34.75, a price-to-earnings-growth ratio of 2.34 and a beta of 0.68. Entergy Corporation has a 52 week low of $50.19 and a 52 week high of $88.38. The business has a 50 day moving average price of $82.75 and a 200-day moving average price of $74.80. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 1.81.

Entergy (NYSE:ETR) last issued its quarterly earnings data 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 firm had revenue of $2.74 billion during 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 period in the prior year, the business posted $0.26 earnings per share. Equities analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have commented on ETR shares. KeyCorp downgraded Entergy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. StockNews.com upgraded Entergy from a “sell” rating to a “hold” rating in a research report on Sunday, December 29th. Evercore ISI upped their target price on Entergy from $75.00 to $86.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. Scotiabank cut their target price on Entergy from $165.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company upped their target price on Entergy from $85.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. 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 company. According to MarketBeat.com, Entergy presently has an average rating of “Moderate Buy” and a consensus target price of $84.32.

Entergy 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.