Pitcairn Co. Takes $223,000 Position in Entergy Corporation (NYSE:ETR)

Pitcairn Co. purchased a new position in Entergy Corporation (NYSE:ETR) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,941 shares of the utilities provider’s stock, valued at approximately $223,000.

Other institutional investors have also added to or reduced their stakes in the company. IHT Wealth Management LLC bought a new position in shares of Entergy in the 3rd quarter worth about $226,000. Quantinno Capital Management LP grew its holdings in Entergy by 19.1% in the third quarter. Quantinno Capital Management LP now owns 31,538 shares of the utilities provider’s stock worth $4,151,000 after purchasing an additional 5,057 shares during the period. Stifel Financial Corp increased its stake in shares of Entergy by 8.2% during the third quarter. Stifel Financial Corp now owns 164,211 shares of the utilities provider’s stock valued at $21,612,000 after purchasing an additional 12,383 shares in the last quarter. EP Wealth Advisors LLC purchased a new position in shares of Entergy during the third quarter valued at approximately $625,000. Finally, XTX Topco Ltd purchased a new position in shares of Entergy during the third quarter valued at approximately $958,000. Institutional investors own 88.07% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on ETR. Scotiabank reduced their price objective on Entergy from $165.00 to $82.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 7th. BMO Capital Markets raised their price target on Entergy from $79.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Evercore ISI upped their price target on shares of Entergy from $75.00 to $86.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. UBS Group raised their price objective on shares of Entergy from $86.00 to $96.00 and gave the company a “buy” rating in a research note on Friday, March 21st. Finally, LADENBURG THALM/SH SH upgraded shares of Entergy from a “neutral” rating to a “buy” rating and set a $86.50 target price on the stock in a research note on Thursday, January 30th. Six research 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. According to MarketBeat, Entergy has an average rating of “Moderate Buy” and a consensus target price of $84.75.

Entergy Stock Performance

Shares of ETR opened at $79.02 on Monday. The firm has a market capitalization of $34.04 billion, a P/E ratio of 32.45, a PEG ratio of 2.34 and a beta of 0.56. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.72 and a quick ratio of 0.59. The business has a fifty day moving average of $83.52 and a 200 day moving average of $76.69. Entergy Corporation has a one year low of $50.19 and a one year high of $88.38.

Entergy (NYSE:ETR) last released its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.63 by $0.03. The firm had revenue of $2.74 billion during 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 quarter in the prior year, the firm earned $0.26 EPS. As a group, sell-side analysts anticipate that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 10th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.04%. The ex-dividend date was Monday, February 10th. Entergy’s dividend payout ratio is presently 98.77%.

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.