Magnolia Wealth Management LLC purchased a new stake in Entergy Co. (NYSE:ETR – Get Rating) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 6,320 shares of the utilities provider’s stock, valued at approximately $710,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ETR. Capital International Investors boosted its position in Entergy by 17.1% in the fourth quarter. Capital International Investors now owns 12,028,310 shares of the utilities provider’s stock valued at $1,354,989,000 after buying an additional 1,758,132 shares in the last quarter. BlackRock Inc. lifted its position in shares of Entergy by 9.0% during the first quarter. BlackRock Inc. now owns 18,499,101 shares of the utilities provider’s stock worth $2,159,770,000 after purchasing an additional 1,533,746 shares in the last quarter. State Street Corp lifted its position in shares of Entergy by 8.1% during the first quarter. State Street Corp now owns 12,122,596 shares of the utilities provider’s stock worth $1,415,313,000 after purchasing an additional 908,932 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Entergy by 35.8% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,699,404 shares of the utilities provider’s stock worth $315,156,000 after purchasing an additional 711,770 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Entergy by 2.8% during the first quarter. Vanguard Group Inc. now owns 23,663,740 shares of the utilities provider’s stock worth $2,762,741,000 after purchasing an additional 650,775 shares in the last quarter. 90.53% of the stock is currently owned by institutional investors and hedge funds.
Entergy Stock Up 0.8 %
Shares of NYSE:ETR opened at $118.71 on Thursday. Entergy Co. has a 52 week low of $98.50 and a 52 week high of $126.82. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.64 and a current ratio of 0.87. The company has a market capitalization of $24.15 billion, a PE ratio of 19.62, a PEG ratio of 2.80 and a beta of 0.57. The company has a 50 day moving average price of $115.81 and a two-hundred day moving average price of $115.67.
Entergy Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Thursday, August 11th were given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend was Wednesday, August 10th. Entergy’s dividend payout ratio is 66.78%.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on ETR. Morgan Stanley upped their target price on shares of Entergy from $106.00 to $115.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 23rd. Evercore ISI upped their target price on shares of Entergy to $130.00 in a research report on Tuesday, August 9th. Mizuho reduced their target price on shares of Entergy from $127.00 to $123.00 and set a “buy” rating on the stock in a research report on Wednesday, June 29th. Wells Fargo & Company boosted their price target on shares of Entergy from $125.00 to $138.00 and gave the stock an “overweight” rating in a research note on Thursday, August 4th. Finally, UBS Group downgraded shares of Entergy from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $134.00 to $128.00 in a research note on Tuesday, September 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $125.43.
Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. The company operates in two segments, Utility and Entergy Wholesale Commodities. The Utility segment 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.
- Get a free copy of the StockNews.com research report on Entergy (ETR)
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