Decade Renewable Partners LP Purchases Shares of 130,009 Entergy Corporation (NYSE:ETR)

Decade Renewable Partners LP bought a new position in Entergy Corporation (NYSE:ETR) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 130,009 shares of the utilities provider’s stock, valued at approximately $9,857,000. Entergy makes up about 4.8% of Decade Renewable Partners LP’s investment portfolio, making the stock its 6th biggest position.

A number of other large investors have also recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB acquired a new position in Entergy in the 3rd quarter valued at approximately $175,000. Synovus Financial Corp increased its position in Entergy by 78.3% in the 3rd quarter. Synovus Financial Corp now owns 4,269 shares of the utilities provider’s stock worth $562,000 after purchasing an additional 1,875 shares during the last quarter. Peapack Gladstone Financial Corp lifted its holdings in shares of Entergy by 181.5% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 14,310 shares of the utilities provider’s stock valued at $1,884,000 after buying an additional 9,227 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Entergy by 53.0% in the 3rd quarter. Franklin Resources Inc. now owns 5,718,859 shares of the utilities provider’s stock valued at $754,318,000 after buying an additional 1,981,611 shares in the last quarter. Finally, DGS Capital Management LLC increased its holdings in Entergy by 17.9% in the third quarter. DGS Capital Management LLC now owns 4,141 shares of the utilities provider’s stock worth $545,000 after buying an additional 628 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors.

Entergy Stock Down 0.4 %

NYSE ETR opened at $84.60 on Monday. Entergy Corporation has a 1-year low of $52.07 and a 1-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 stock’s 50 day moving average is $83.51 and its two-hundred day moving average is $78.57. The company has a market capitalization of $36.44 billion, a price-to-earnings ratio of 34.74, a PEG ratio of 2.34 and a beta of 0.56.

Entergy (NYSE:ETR) last posted 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 return on equity of 10.68% and a net margin of 8.90%. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same quarter in the previous year, the firm earned $0.26 earnings per share. Equities analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 2nd will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.84%. The ex-dividend date is Friday, May 2nd. Entergy’s dividend payout ratio is 98.77%.

Wall Street Analyst Weigh In

Several analysts have commented on ETR shares. UBS Group boosted their target price on shares of Entergy from $86.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday, March 21st. Scotiabank reduced their price target on Entergy from $165.00 to $82.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 7th. Evercore ISI boosted their target price on Entergy from $75.00 to $86.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Wells Fargo & Company raised their target price on shares of Entergy from $85.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Finally, Barclays raised their price target on Entergy from $79.00 to $88.00 and gave the company an “overweight” rating in a research report on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $85.25.

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.