1620 Investment Advisors Inc. Boosts Holdings in Entergy Corporation (NYSE:ETR)

1620 Investment Advisors Inc. grew its holdings in Entergy Corporation (NYSE:ETR) by 100.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,200 shares of the utilities provider’s stock after purchasing an additional 600 shares during the quarter. 1620 Investment Advisors Inc.’s holdings in Entergy were worth $91,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Franklin Resources Inc. raised its holdings in Entergy by 53.0% in the third quarter. Franklin Resources Inc. now owns 5,718,859 shares of the utilities provider’s stock valued at $754,318,000 after acquiring an additional 1,981,611 shares in the last quarter. Boston Partners raised its holdings in Entergy by 87.3% in the fourth quarter. Boston Partners now owns 3,215,746 shares of the utilities provider’s stock valued at $243,867,000 after acquiring an additional 1,498,693 shares in the last quarter. Jennison Associates LLC raised its holdings in Entergy by 139.5% in the fourth quarter. Jennison Associates LLC now owns 2,423,556 shares of the utilities provider’s stock valued at $183,754,000 after acquiring an additional 1,411,473 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Entergy by 105.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,748,828 shares of the utilities provider’s stock valued at $208,416,000 after acquiring an additional 1,408,476 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Entergy by 60.6% in the third quarter. JPMorgan Chase & Co. now owns 3,589,727 shares of the utilities provider’s stock valued at $472,444,000 after acquiring an additional 1,354,355 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Entergy Stock Performance

Shares of ETR opened at $83.74 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 1.81. The firm has a market cap of $36.04 billion, a PE ratio of 34.39, a price-to-earnings-growth ratio of 2.34 and a beta of 0.68. The company’s 50 day simple moving average is $82.90 and its 200-day simple moving average is $74.96. Entergy Corporation has a 12-month low of $50.19 and a 12-month high of $88.38.

Entergy (NYSE:ETR) last announced its earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $3.24 billion. Entergy had a net margin of 8.90% and a return on equity of 10.68%. During the same period last year, the firm posted $0.26 earnings per share. As a group, equities analysts predict that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 10th were given a $0.60 dividend. The ex-dividend date was Monday, February 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.87%. Entergy’s dividend payout ratio (DPR) is 98.77%.

Wall Street Analyst Weigh In

ETR has been the topic of several analyst reports. UBS Group raised their target price on shares of Entergy from $86.00 to $96.00 and gave the company a “buy” rating in a report on Friday. KeyCorp cut shares of Entergy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Morgan Stanley raised 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. Evercore ISI raised their price objective on shares of Entergy from $75.00 to $86.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Entergy from $87.00 to $98.00 and gave the stock an “overweight” rating in a report on Tuesday, March 11th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $84.75.

Entergy Company 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.