Cypress Capital Group Has $397,000 Stake in Entergy Corporation (NYSE:ETR)

Cypress Capital Group raised its stake in shares of Entergy Corporation (NYSE:ETR) by 57.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 5,242 shares of the utilities provider’s stock after purchasing an additional 1,923 shares during the period. Cypress Capital Group’s holdings in Entergy were worth $397,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Franklin Resources Inc. boosted 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 worth $754,318,000 after buying an additional 1,981,611 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Entergy by 139.5% in the 4th quarter. Jennison Associates LLC now owns 2,423,556 shares of the utilities provider’s stock worth $183,754,000 after buying an additional 1,411,473 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Entergy by 105.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,748,828 shares of the utilities provider’s stock worth $208,416,000 after buying an additional 1,408,476 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Entergy by 60.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,589,727 shares of the utilities provider’s stock worth $472,444,000 after buying an additional 1,354,355 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Entergy by 87.4% in the 4th quarter. Bank of New York Mellon Corp now owns 2,848,293 shares of the utilities provider’s stock worth $215,958,000 after buying an additional 1,328,694 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Wall Street Analysts Forecast Growth

ETR has been the topic of several research analyst reports. Wells Fargo & Company upped their price objective on Entergy from $85.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. BMO Capital Markets upped their price objective on Entergy from $79.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Evercore ISI upped their price objective on Entergy from $75.00 to $86.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. UBS Group upped their price objective on Entergy from $72.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Finally, LADENBURG THALM/SH SH upgraded Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price objective on the stock in a research note on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Entergy presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.14.

Entergy Trading Down 0.5 %

Entergy stock opened at $84.69 on Thursday. The stock has a market cap of $36.45 billion, a P/E ratio of 34.78, a PEG ratio of 2.34 and a beta of 0.68. Entergy Corporation has a fifty-two week low of $50.19 and a fifty-two week high of $88.38. The firm’s fifty day moving average price is $81.19 and its 200-day moving average price is $73.10. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.59 and a current ratio of 0.72.

Entergy (NYSE:ETR) last released its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.03. The firm had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $3.24 billion. Entergy had a net margin of 8.90% and a return on equity of 10.68%. During the same quarter in the prior year, the firm posted $0.26 earnings per share. 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 declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 10th were issued a $0.60 dividend. The ex-dividend date was Monday, February 10th. This represents a $2.40 annualized dividend and a dividend yield of 2.83%. Entergy’s payout ratio is currently 98.77%.

Insider Transactions at Entergy

In related news, insider Deanna D. Rodriguez sold 6,088 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $73.94, for a total value of $450,146.72. Following the transaction, the insider now owns 3,952 shares of the company’s stock, valued at $292,210.88. This represents a 60.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.39% of the company’s stock.

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.