Franklin Resources Inc. Has $764.24 Million Position in Entergy Corporation (NYSE:ETR)

Franklin Resources Inc. lifted its stake in shares of Entergy Corporation (NYSE:ETR) by 76.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,079,631 shares of the utilities provider’s stock after acquiring an additional 4,360,772 shares during the period. Franklin Resources Inc. owned 2.35% of Entergy worth $764,238,000 at the end of the most recent reporting period.

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

Entergy Stock Performance

Shares of ETR opened at $84.38 on Monday. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 1.81. The stock has a 50-day moving average price of $83.34 and a 200-day moving average price of $75.96. The company has a market cap of $36.35 billion, a PE ratio of 34.65, a price-to-earnings-growth ratio of 2.34 and a beta of 0.68. Entergy Corporation has a 12-month low of $50.19 and a 12-month high of $88.38.

Entergy (NYSE:ETR) last released its 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. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $3.24 billion. Entergy had a return on equity of 10.68% and a net margin of 8.90%. During the same quarter in the prior year, the firm earned $0.26 earnings per share. As a group, equities analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The business 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. The ex-dividend date of this dividend was Monday, February 10th. This represents a $2.40 annualized dividend and a yield of 2.84%. Entergy’s payout ratio is 98.77%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ETR shares. UBS Group upped their target price on Entergy from $86.00 to $96.00 and gave the company a “buy” rating in a report on Friday, March 21st. Evercore ISI boosted their price target on shares of Entergy from $75.00 to $86.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Morgan Stanley raised their price objective on shares of Entergy from $75.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, March 20th. JPMorgan Chase & Co. boosted their target price on shares of Entergy from $87.00 to $98.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th. Finally, 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. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $84.75.

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.