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

Pictet Asset Management Holding SA increased its position in shares of Entergy Corporation (NYSE:ETR) by 70.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,202,456 shares of the utilities provider’s stock after acquiring an additional 912,691 shares during the period. Pictet Asset Management Holding SA owned about 0.51% of Entergy worth $166,990,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Strategic Financial Concepts LLC acquired a new stake in shares of Entergy during the fourth quarter worth about $4,393,000. Flagship Harbor Advisors LLC boosted its position in Entergy by 74.3% in the 4th quarter. Flagship Harbor Advisors LLC now owns 7,959 shares of the utilities provider’s stock valued at $603,000 after buying an additional 3,393 shares during the period. LaFleur & Godfrey LLC acquired a new position in shares of Entergy in the fourth quarter worth $217,000. Avior Wealth Management LLC increased its position in shares of Entergy by 324.3% during the fourth quarter. Avior Wealth Management LLC now owns 734 shares of the utilities provider’s stock worth $56,000 after acquiring an additional 561 shares during the period. Finally, Braun Stacey Associates Inc. raised its stake in shares of Entergy by 88.8% in the fourth quarter. Braun Stacey Associates Inc. now owns 360,502 shares of the utilities provider’s stock valued at $27,333,000 after acquiring an additional 169,511 shares in the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ETR has been the topic of several recent research reports. StockNews.com upgraded Entergy from a “sell” rating to a “hold” rating in a report on Sunday, December 29th. UBS Group upped their target price on shares of Entergy from $86.00 to $96.00 and gave the stock a “buy” rating in a research note on Friday, March 21st. Morgan Stanley boosted their price target 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. Wells Fargo & Company raised their price objective on shares of Entergy from $85.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Entergy from $87.00 to $98.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. Six 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 stock. Based on data from MarketBeat.com, Entergy currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.75.

Entergy Stock Up 0.4 %

Shares of NYSE ETR opened at $84.38 on Friday. The stock has a market cap of $36.35 billion, a PE ratio of 34.65, a price-to-earnings-growth ratio of 2.34 and a beta of 0.68. Entergy Corporation has a 52-week low of $50.19 and a 52-week high of $88.38. The business has a 50-day moving average price of $83.34 and a 200 day moving average price of $75.75. 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 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. Entergy had a net margin of 8.90% and a return on equity of 10.68%. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same period last year, the firm posted $0.26 earnings per share. Equities research analysts forecast 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. Stockholders of record on Monday, February 10th were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.84%. Entergy’s payout ratio is 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.