Edgestream Partners L.P. Acquires New Shares in Entergy Corporation (NYSE:ETR)

Edgestream Partners L.P. acquired a new position in shares of Entergy Corporation (NYSE:ETR) during the first quarter, Holdings Channel.com reports. The fund acquired 63,866 shares of the utilities provider’s stock, valued at approximately $5,460,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Entergy by 101.9% in 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 acquiring an additional 26,312,267 shares during the period. Bank of America Corp DE boosted its holdings in Entergy by 142.8% in the 4th quarter. Bank of America Corp DE now owns 17,594,747 shares of the utilities provider’s stock valued at $1,334,034,000 after purchasing an additional 10,347,926 shares during the period. Ameriprise Financial Inc. grew its position in shares of Entergy by 71.4% during the 4th quarter. Ameriprise Financial Inc. now owns 12,884,421 shares of the utilities provider’s stock valued at $976,895,000 after purchasing an additional 5,368,396 shares in the last quarter. FMR LLC increased its holdings in shares of Entergy by 90.7% in the fourth quarter. FMR LLC now owns 12,612,407 shares of the utilities provider’s stock worth $956,273,000 after purchasing an additional 5,998,760 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Entergy by 66.7% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,042,159 shares of the utilities provider’s stock worth $837,216,000 after buying an additional 4,418,528 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Entergy Price Performance

NYSE:ETR opened at $82.91 on Tuesday. The company has a current ratio of 0.82, a quick ratio of 0.55 and a debt-to-equity ratio of 1.91. The company has a market capitalization of $35.72 billion, a P/E ratio of 26.92, a P/E/G ratio of 2.23 and a beta of 0.59. Entergy Corporation has a 12 month low of $53.39 and a 12 month high of $88.38. The business’s 50-day moving average is $82.23 and its 200 day moving average is $82.19.

Entergy (NYSE:ETR) last posted its earnings results on Tuesday, April 29th. The utilities provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.22. The company had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.13 billion. Entergy had a return on equity of 11.43% and a net margin of 11.26%. During the same period in the previous year, the business earned $0.54 earnings per share. On average, equities research analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ETR shares. KeyCorp upgraded Entergy from a “sector weight” rating to an “overweight” rating and set a $85.00 price objective on the stock in a research report on Wednesday, May 14th. UBS Group increased their price objective on Entergy from $86.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday, March 21st. Raymond James Financial started coverage on Entergy in a research report on Friday, June 13th. They issued a “market perform” rating on the stock. BMO Capital Markets increased their price objective on Entergy from $89.00 to $93.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. Finally, Morgan Stanley lowered their price objective on Entergy from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 18th. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $85.96.

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.