Entergy Corporation (NYSE:ETR) Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA grew its position in shares of Entergy Corporation (NYSE:ETR) by 70.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,202,456 shares of the utilities provider’s stock after buying an additional 912,691 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Entergy were worth $166,990,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Fortis Group Advisors LLC raised its holdings in Entergy by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 172 shares in the last quarter. NBT Bank N A NY increased its position in Entergy by 100.0% during the 4th quarter. NBT Bank N A NY now owns 340 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 170 shares during the period. Legacy Investment Solutions LLC purchased a new position in shares of Entergy during the 3rd quarter worth approximately $27,000. Duncker Streett & Co. Inc. lifted its holdings in shares of Entergy by 100.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 358 shares of the utilities provider’s stock valued at $27,000 after buying an additional 179 shares during the period. Finally, Sandy Spring Bank boosted its stake in shares of Entergy by 100.0% in the fourth quarter. Sandy Spring Bank now owns 358 shares of the utilities provider’s stock valued at $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.

Analyst Ratings Changes

Several research firms have issued reports on ETR. LADENBURG THALM/SH SH upgraded Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price objective for the company in a research report on Thursday, January 30th. Evercore ISI raised their price objective on shares of Entergy from $75.00 to $86.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Morgan Stanley boosted their price objective on shares of Entergy from $75.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, March 20th. Scotiabank reduced their price target on shares of Entergy from $165.00 to $82.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. boosted their price target on Entergy from $87.00 to $98.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Entergy currently has an average rating of “Moderate Buy” and a consensus price target of $84.75.

Entergy Stock Up 0.4 %

ETR opened at $84.38 on Friday. The firm has a market cap of $36.35 billion, a P/E ratio of 34.65, a PEG ratio of 2.34 and a beta of 0.68. The business’s fifty day simple moving average is $83.34 and its 200 day simple moving average is $75.75. Entergy Corporation has a 52 week low of $50.19 and a 52 week high of $88.38. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 1.81.

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, topping the consensus estimate of $0.63 by $0.03. The business 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 firm earned $0.26 earnings per share. As a group, equities research analysts anticipate that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders 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 annualized dividend and a dividend yield of 2.84%. Entergy’s payout ratio is currently 98.77%.

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.