Entergy Corporation (NYSE:ETR) Shares Bought by M&T Bank Corp

M&T Bank Corp grew its position in shares of Entergy Corporation (NYSE:ETR) by 196.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,811 shares of the utilities provider’s stock after purchasing an additional 23,717 shares during the period. M&T Bank Corp’s holdings in Entergy were worth $2,714,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ETR. Fortis Group Advisors LLC lifted its holdings in shares of Entergy by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 172 shares during the period. Legacy Investment Solutions LLC purchased a new position in Entergy in the third quarter valued at approximately $27,000. 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 during the period. Riverview Trust Co raised its stake in shares of Entergy by 100.0% during the fourth quarter. Riverview Trust Co now owns 364 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 182 shares during the period. Finally, IFS Advisors LLC purchased a new stake in shares of Entergy during the fourth quarter valued at approximately $30,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Entergy Stock Performance

Entergy stock opened at $81.23 on Friday. The company has a market cap of $34.96 billion, a PE ratio of 33.36, a P/E/G ratio of 2.34 and a beta of 0.68. The company has a fifty day moving average price of $81.40 and a two-hundred day moving average price of $73.40. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.72 and a quick ratio of 0.59. Entergy Corporation has a 12 month low of $50.19 and a 12 month high of $88.38.

Entergy (NYSE:ETR) last released its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate 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 previous year, the company posted $0.26 earnings per share. Research analysts expect that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Scotiabank dropped their price objective on shares of Entergy from $165.00 to $82.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 7th. LADENBURG THALM/SH SH upgraded shares of 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. Evercore ISI lifted 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. StockNews.com upgraded shares of Entergy from a “sell” rating to a “hold” rating in a research note on Sunday, December 29th. Finally, BMO Capital Markets raised their price target on shares of Entergy from $79.00 to $94.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Entergy currently has a consensus rating of “Moderate Buy” and an average target price of $82.14.

Insider Buying and Selling at Entergy

In other Entergy news, insider Deanna D. Rodriguez sold 6,088 shares of the firm’s 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 sale, the insider now directly owns 3,952 shares in the company, valued at approximately $292,210.88. This trade represents a 60.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.39% of the stock is currently owned by company insiders.

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.