Harbour Investments Inc. Boosts Stake in Entergy Corporation (NYSE:ETR)

Harbour Investments Inc. increased its stake in shares of Entergy Corporation (NYSE:ETR) by 126.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,098 shares of the utilities provider’s stock after buying an additional 1,170 shares during the quarter. Harbour Investments Inc.’s holdings in Entergy were worth $159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. State Street Corp lifted its position in Entergy by 1.1% during the 3rd quarter. State Street Corp now owns 11,408,776 shares of the utilities provider’s stock worth $1,501,509,000 after acquiring an additional 128,667 shares during the period. FMR LLC raised its stake in shares of Entergy by 5.0% in the third quarter. FMR LLC now owns 6,613,647 shares of the utilities provider’s stock worth $870,422,000 after purchasing an additional 315,750 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Entergy by 53.0% during the third 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 period. Geode Capital Management LLC boosted its position in Entergy by 0.8% in the third quarter. Geode Capital Management LLC now owns 4,965,257 shares of the utilities provider’s stock valued at $651,206,000 after buying an additional 37,279 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Entergy by 60.6% in the third quarter. JPMorgan Chase & Co. now owns 3,589,727 shares of the utilities provider’s stock valued at $472,444,000 after buying an additional 1,354,355 shares during the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Entergy Trading Down 1.1 %

Shares of NYSE:ETR opened at $83.74 on Friday. The business’s 50 day moving average price is $82.90 and its 200-day moving average price is $75.06. Entergy Corporation has a 1 year low of $50.19 and a 1 year high of $88.38. The firm has a market capitalization of $36.04 billion, a price-to-earnings ratio of 34.39, a price-to-earnings-growth ratio of 2.34 and a beta of 0.68. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.72 and a quick ratio of 0.59.

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 the consensus estimate of $0.63 by $0.03. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $3.24 billion. Entergy had a net margin of 8.90% and a return on equity of 10.68%. During the same period last year, the firm posted $0.26 earnings per share. On average, equities research analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 10th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.87%. Entergy’s payout ratio is currently 98.77%.

Wall Street Analyst Weigh In

ETR has been the subject of several research reports. Scotiabank decreased their price objective on shares of Entergy from $165.00 to $82.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 7th. Evercore ISI raised their target price on shares of Entergy from $75.00 to $86.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. StockNews.com raised shares of Entergy from a “sell” rating to a “hold” rating in a report on Sunday, December 29th. UBS Group increased their price target on Entergy from $86.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday. Finally, BMO Capital Markets boosted their price objective on Entergy from $79.00 to $94.00 and gave the company an “outperform” 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.