Covalis Capital LLP Increases Position in Entergy Corporation (NYSE:ETR)

Covalis Capital LLP grew its stake in shares of Entergy Corporation (NYSE:ETR) by 115.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 605,380 shares of the utilities provider’s stock after purchasing an additional 324,659 shares during the period. Entergy comprises about 6.7% of Covalis Capital LLP’s holdings, making the stock its 3rd biggest holding. Covalis Capital LLP owned 0.14% of Entergy worth $45,900,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Hall Laurie J Trustee boosted its stake in shares of Entergy by 50.0% during the 4th quarter. Hall Laurie J Trustee now owns 450 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 150 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Entergy by 0.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 29,336 shares of the utilities provider’s stock valued at $2,224,000 after buying an additional 162 shares during the last quarter. NBT Bank N A NY boosted its position in shares of Entergy by 100.0% in the fourth quarter. NBT Bank N A NY now owns 340 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 170 shares during the period. Fortis Group Advisors LLC increased its position in Entergy by 100.0% during the fourth 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. Finally, Legacy Investment Solutions LLC increased its stake in Entergy by 85.1% during the fourth quarter. Legacy Investment Solutions LLC now owns 374 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 172 shares during the period. 88.07% of the stock is owned by institutional investors and hedge funds.

Entergy Price Performance

ETR opened at $83.11 on Friday. Entergy Corporation has a 12-month low of $51.75 and a 12-month high of $88.38. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 1.81. The firm has a market capitalization of $35.80 billion, a P/E ratio of 34.13, a PEG ratio of 2.34 and a beta of 0.56. The stock has a fifty day moving average of $83.54 and a 200-day moving average of $77.78.

Entergy (NYSE:ETR) last posted its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, topping 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 business posted $0.26 earnings per share. Equities analysts forecast that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 2nd will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 2.89%. Entergy’s dividend payout ratio (DPR) is 98.77%.

Analysts Set New Price Targets

Several research firms recently commented on ETR. Wells Fargo & Company raised their target price on Entergy from $85.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. BMO Capital Markets decreased their price objective on shares of Entergy from $94.00 to $89.00 and set an “outperform” rating for the company in a report on Friday, April 11th. Scotiabank decreased 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. JPMorgan Chase & Co. lifted their target price on Entergy from $87.00 to $98.00 and gave the stock an “overweight” rating in a report on Tuesday, March 11th. Finally, Barclays upped their price target on shares of Entergy from $79.00 to $88.00 and gave the company an “overweight” rating in a research report on Tuesday, April 8th. Six 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, Entergy presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.25.

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.