Glenview Trust co Increases Stock Holdings in Entergy Corporation (NYSE:ETR)

Glenview Trust co raised its stake in Entergy Corporation (NYSE:ETR) by 98.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,288 shares of the utilities provider’s stock after purchasing an additional 2,128 shares during the quarter. Glenview Trust co’s holdings in Entergy were worth $325,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of ETR. Oppenheimer Asset Management Inc. grew its stake in shares of Entergy by 21.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 2,971 shares of the utilities provider’s stock valued at $391,000 after purchasing an additional 528 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of Entergy by 14.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 7,957 shares of the utilities provider’s stock valued at $1,047,000 after buying an additional 1,023 shares during the period. Metis Global Partners LLC lifted its holdings in shares of Entergy by 1.9% in the 3rd quarter. Metis Global Partners LLC now owns 6,828 shares of the utilities provider’s stock valued at $899,000 after buying an additional 130 shares during the period. OneDigital Investment Advisors LLC lifted its holdings in shares of Entergy by 2.1% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 3,427 shares of the utilities provider’s stock valued at $451,000 after buying an additional 69 shares during the period. Finally, CIBC Asset Management Inc lifted its holdings in shares of Entergy by 2.3% in the 3rd quarter. CIBC Asset Management Inc now owns 59,785 shares of the utilities provider’s stock valued at $7,868,000 after buying an additional 1,352 shares during the period. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ETR. Evercore ISI raised their price target on Entergy from $75.00 to $86.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. KeyCorp cut Entergy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Scotiabank reduced their price target on Entergy from $165.00 to $82.00 and set a “sector perform” rating for the company in a report on Tuesday, January 7th. StockNews.com raised Entergy from a “sell” rating to a “hold” rating in a report on Sunday, December 29th. Finally, UBS Group lifted their price objective on Entergy from $72.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $84.11.

Entergy Stock Performance

NYSE ETR opened at $85.53 on Tuesday. Entergy Corporation has a fifty-two week low of $50.19 and a fifty-two week high of $88.38. The stock has a market cap of $36.81 billion, a price-to-earnings ratio of 35.12, a price-to-earnings-growth ratio of 2.34 and a beta of 0.68. The business has a fifty day moving average of $82.28 and a 200-day moving average of $74.50. 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 announced its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $3.24 billion. Entergy had a return on equity of 10.68% and a net margin of 8.90%. During the same quarter in the previous year, the business earned $0.26 earnings per share. As a group, analysts predict that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 10th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.81%. 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.