Entergy Corporation (NYSE:ETR) Position Raised by M&T Bank Corp

M&T Bank Corp lifted its stake in shares of Entergy Corporation (NYSE:ETR) by 196.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 35,811 shares of the utilities provider’s stock after acquiring an additional 23,717 shares during the period. M&T Bank Corp’s holdings in Entergy were worth $2,714,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in shares of Entergy during the third quarter valued at about $27,000. Coastline Trust Co bought a new stake in shares of Entergy during the third quarter valued at about $31,000. Ashton Thomas Securities LLC bought a new stake in shares of Entergy during the third quarter valued at about $42,000. Fortis Group Advisors LLC raised its stake in shares of Entergy by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 172 shares in the last quarter. Finally, Duncker Streett & Co. Inc. raised its stake in shares of Entergy by 100.0% during the fourth quarter. Duncker Streett & Co. Inc. now owns 358 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 179 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors.

Entergy Trading Up 0.1 %

Shares of ETR opened at $81.23 on Friday. The business’s 50-day moving average price is $81.40 and its 200 day moving average price is $73.40. The stock has a market capitalization of $34.96 billion, a P/E ratio of 33.36, a P/E/G ratio of 2.34 and a beta of 0.68. Entergy Corporation has a 1-year low of $50.19 and a 1-year high of $88.38. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 1.81.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 10.68% and a net margin of 8.90%. During the same quarter last year, the business posted $0.26 EPS. Analysts expect that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 10th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $2.40 annualized dividend and a yield of 2.95%. Entergy’s dividend payout ratio (DPR) is presently 98.77%.

Insider Buying and Selling at Entergy

In other Entergy news, insider Deanna D. Rodriguez sold 6,088 shares of Entergy stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $73.94, for a total transaction of $450,146.72. Following the transaction, the insider now owns 3,952 shares of the company’s stock, valued at $292,210.88. The trade was a 60.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ETR. StockNews.com upgraded shares of Entergy from a “sell” rating to a “hold” rating in a research note on Sunday, December 29th. UBS Group lifted their price objective on shares of Entergy from $72.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. LADENBURG THALM/SH SH upgraded shares of Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price target on the stock in a research report on Thursday, January 30th. Wells Fargo & Company boosted their price target on shares of Entergy from $85.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Finally, Evercore ISI boosted their price target on shares of Entergy from $75.00 to $86.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. Six 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 data from MarketBeat.com, Entergy currently has an average rating of “Moderate Buy” and an average price target of $82.14.

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.