Wealth Advisors of Tampa Bay LLC Acquires 34,734 Shares of Entergy Corporation (NYSE:ETR)

Wealth Advisors of Tampa Bay LLC lifted its holdings in Entergy Corporation (NYSE:ETR) by 97.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,494 shares of the utilities provider’s stock after acquiring an additional 34,734 shares during the period. Entergy accounts for about 2.3% of Wealth Advisors of Tampa Bay LLC’s portfolio, making the stock its 12th biggest holding. Wealth Advisors of Tampa Bay LLC’s holdings in Entergy were worth $5,345,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Fortis Group Advisors LLC increased its holdings in Entergy by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 172 shares during the last quarter. NBT Bank N A NY grew its position in shares of Entergy by 100.0% during the fourth quarter. NBT Bank N A NY now owns 340 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 170 shares in the last quarter. Legacy Investment Solutions LLC purchased a new position in shares of Entergy during the third quarter valued at about $27,000. Duncker Streett & Co. Inc. increased its holdings in shares of Entergy by 100.0% in the fourth quarter. Duncker Streett & Co. Inc. now owns 358 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 179 shares during the last quarter. Finally, Sandy Spring Bank lifted its position in shares of Entergy by 100.0% in the fourth quarter. Sandy Spring Bank now owns 358 shares of the utilities provider’s stock worth $27,000 after buying an additional 179 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on ETR shares. JPMorgan Chase & Co. raised their price target on Entergy from $87.00 to $98.00 and gave the company an “overweight” rating in a report on Tuesday, March 11th. Evercore ISI raised their target price on shares of Entergy from $75.00 to $86.00 and gave the company 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 research note on Sunday, December 29th. BMO Capital Markets increased their price objective on shares of Entergy from $79.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Finally, 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 report on Friday, March 21st. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.75.

Entergy Stock Performance

Entergy stock opened at $84.89 on Friday. Entergy Corporation has a 1-year low of $50.19 and a 1-year high of $88.38. The company’s 50-day moving average is $83.59 and its 200 day moving average is $76.41. The firm has a market capitalization of $36.57 billion, a P/E ratio of 34.86, a price-to-earnings-growth ratio of 2.34 and a beta of 0.56. 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 issued its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $3.24 billion. Entergy had a return on equity of 10.68% and a net margin of 8.90%. During the same period last year, the company earned $0.26 EPS. Research analysts forecast that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 10th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend was Monday, February 10th. Entergy’s dividend payout ratio is currently 98.77%.

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.