Resona Asset Management Co. Ltd. Takes $9.75 Million Position in Entergy Corporation (NYSE:ETR)

Resona Asset Management Co. Ltd. purchased a new position in shares of Entergy Corporation (NYSE:ETR) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 128,553 shares of the utilities provider’s stock, valued at approximately $9,746,000.

Other institutional investors have also added to or reduced their stakes in the company. Hall Laurie J Trustee grew its holdings in shares of Entergy by 50.0% in the fourth quarter. Hall Laurie J Trustee now owns 450 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 150 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Entergy by 0.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 29,336 shares of the utilities provider’s stock worth $2,224,000 after purchasing an additional 162 shares during the last quarter. NBT Bank N A NY grew 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 purchasing an additional 170 shares during the period. Fortis Group Advisors LLC increased its position in shares of Entergy by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 172 shares during the last quarter. Finally, Duncker Streett & Co. Inc. raised its stake in shares of Entergy by 100.0% during the 4th quarter. Duncker Streett & Co. Inc. now owns 358 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 179 shares during the period. 88.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Evercore ISI increased their price target 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. LADENBURG THALM/SH SH upgraded shares of Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price target for the company in a research note on Thursday, January 30th. UBS Group lifted their price target on shares of Entergy from $86.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, March 21st. StockNews.com raised Entergy from a “sell” rating to a “hold” rating in a report on Sunday, December 29th. Finally, JPMorgan Chase & Co. boosted their target price on Entergy from $87.00 to $98.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Entergy has an average rating of “Moderate Buy” and a consensus price target of $84.75.

Entergy Trading Down 7.1 %

Shares of ETR opened at $79.02 on Monday. Entergy Corporation has a twelve month low of $50.19 and a twelve month high of $88.38. The stock has a market cap of $34.04 billion, a PE ratio of 32.45, a P/E/G ratio of 2.34 and a beta of 0.56. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 1.81. The business’s 50-day moving average price is $83.52 and its 200-day moving average price is $76.69.

Entergy (NYSE:ETR) last posted its earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. The business 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 quarter in the prior year, the firm posted $0.26 EPS. On average, equities analysts forecast that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend was Monday, February 10th. Entergy’s payout ratio is 98.77%.

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.