Bank of Hawaii Purchases New Stake in Entergy Corporation (NYSE:ETR)

Bank of Hawaii acquired a new position in shares of Entergy Corporation (NYSE:ETR) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,783 shares of the utilities provider’s stock, valued at approximately $211,000.

A number of other large investors also recently added to or reduced their stakes in ETR. EP Wealth Advisors LLC bought a new stake in shares of Entergy during the third quarter worth approximately $625,000. Orion Portfolio Solutions LLC lifted its stake in shares of Entergy by 5.3% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 4,308 shares of the utilities provider’s stock valued at $567,000 after purchasing an additional 216 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in shares of Entergy by 5.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 65,017 shares of the utilities provider’s stock valued at $8,557,000 after purchasing an additional 3,549 shares during the period. M&T Bank Corp boosted its position in shares of Entergy by 9.5% in the 3rd quarter. M&T Bank Corp now owns 12,094 shares of the utilities provider’s stock worth $1,592,000 after purchasing an additional 1,048 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of 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 during the period. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Entergy Stock Down 0.4 %

Shares of Entergy stock opened at $80.21 on Friday. The firm has a market cap of $34.55 billion, a PE ratio of 32.94, a P/E/G ratio of 2.34 and a beta of 0.56. The business’s 50 day simple moving average is $83.48 and its 200 day simple moving average is $77.15. 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 Corporation has a 52-week low of $50.19 and a 52-week high of $88.38.

Entergy (NYSE:ETR) last posted its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share (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 company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same period last year, the company earned $0.26 earnings per share. On average, analysts predict that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Friday, May 2nd will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.99%. Entergy’s dividend payout ratio is 98.77%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Scotiabank reduced their target price on Entergy from $165.00 to $82.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 7th. StockNews.com raised shares of Entergy from a “sell” rating to a “hold” rating in a research note on Sunday, December 29th. Wells Fargo & Company boosted their price objective on shares of Entergy from $85.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Morgan Stanley increased their target price 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. Finally, Barclays upped their price objective on shares of Entergy from $79.00 to $88.00 and gave the company an “overweight” rating in a research report on Tuesday. 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’s stock. According to data from MarketBeat, Entergy currently has a consensus rating of “Moderate Buy” and an average price target of $85.61.

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.