CIBC Private Wealth Group LLC Acquires 6,026 Shares of Entergy Corporation (NYSE:ETR)

CIBC Private Wealth Group LLC grew its holdings in shares of Entergy Corporation (NYSE:ETR) by 177.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,419 shares of the utilities provider’s stock after purchasing an additional 6,026 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Entergy were worth $721,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of ETR. Vanguard Group Inc. raised its holdings in Entergy by 101.9% during the fourth quarter. Vanguard Group Inc. now owns 52,133,646 shares of the utilities provider’s stock valued at $3,952,773,000 after buying an additional 26,312,267 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Entergy by 66.7% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,042,159 shares of the utilities provider’s stock valued at $837,216,000 after acquiring an additional 4,418,528 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Entergy by 105.1% in the 4th quarter. JPMorgan Chase & Co. now owns 7,363,219 shares of the utilities provider’s stock valued at $558,279,000 after acquiring an additional 3,773,492 shares in the last quarter. Norges Bank bought a new position in shares of Entergy in the 4th quarter valued at approximately $259,944,000. Finally, Franklin Resources Inc. lifted its holdings in Entergy by 53.0% in the 3rd quarter. Franklin Resources Inc. now owns 5,718,859 shares of the utilities provider’s stock worth $754,318,000 after purchasing an additional 1,981,611 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Entergy Stock Performance

Shares of NYSE ETR opened at $79.02 on Friday. Entergy Corporation has a one year low of $50.19 and a one year high of $88.38. 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 business has a fifty day simple moving average of $83.52 and a 200 day simple moving average of $76.52. The firm has a market capitalization of $34.04 billion, a price-to-earnings ratio of 32.45, a PEG ratio of 2.34 and a beta of 0.56.

Entergy (NYSE:ETR) last released its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.66 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $3.24 billion. During the same period last year, the firm earned $0.26 EPS. Sell-side analysts expect that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 10th were paid a $0.60 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.04%. Entergy’s dividend payout ratio is currently 98.77%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of Entergy from a “sell” rating to a “hold” rating in a research report on Sunday, December 29th. Scotiabank dropped their target price on shares of Entergy from $165.00 to $82.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 7th. Morgan Stanley upped their price target on shares of Entergy from $75.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. BMO Capital Markets boosted their price objective on Entergy from $79.00 to $94.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, Evercore ISI raised their target price on Entergy from $75.00 to $86.00 and gave the company an “in-line” rating in a 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $84.75.

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.