Summit Securities Group LLC Acquires New Position in Entergy Corporation (NYSE:ETR)

Summit Securities Group LLC bought a new position in Entergy Corporation (NYSE:ETR) in the 4th quarter, HoldingsChannel.com reports. The fund bought 640 shares of the utilities provider’s stock, valued at approximately $49,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Entergy by 66.7% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,042,159 shares of the utilities provider’s stock valued at $837,216,000 after purchasing an additional 4,418,528 shares during the last quarter. Schroder Investment Management Group grew its stake in shares of Entergy by 231.0% during the fourth quarter. Schroder Investment Management Group now owns 342,505 shares of the utilities provider’s stock valued at $25,945,000 after buying an additional 239,017 shares during the last quarter. MV Capital Management Inc. increased its holdings in shares of Entergy by 103.6% in the fourth quarter. MV Capital Management Inc. now owns 399 shares of the utilities provider’s stock worth $30,000 after buying an additional 203 shares during the period. Allianz SE bought a new stake in shares of Entergy in the 4th quarter valued at about $152,000. Finally, Cornercap Investment Counsel Inc. boosted its holdings in Entergy by 93.6% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 12,534 shares of the utilities provider’s stock valued at $950,000 after acquiring an additional 6,060 shares during the period. 88.07% of the stock is currently owned by institutional investors.

Entergy Stock Up 0.4 %

Entergy stock opened at $84.38 on Monday. 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. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.59 and a current ratio of 0.72. The stock has a fifty day moving average of $83.34 and a 200 day moving average of $75.96. Entergy Corporation has a one year low of $50.19 and a one year high of $88.38.

Entergy (NYSE:ETR) last posted its quarterly earnings data 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 company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter last year, the firm posted $0.26 earnings per share. As a group, sell-side analysts predict that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 10th were given a dividend of $0.60 per share. The ex-dividend date was Monday, February 10th. This represents a $2.40 annualized dividend and a yield of 2.84%. Entergy’s dividend payout ratio (DPR) is presently 98.77%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ETR shares. UBS Group lifted their price target on Entergy from $86.00 to $96.00 and gave the stock a “buy” rating in a research note on Friday, March 21st. BMO Capital Markets upped their price target on shares of Entergy from $79.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Scotiabank cut their price target on shares of Entergy from $165.00 to $82.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 7th. StockNews.com raised shares of Entergy from a “sell” rating to a “hold” rating in a research note on Sunday, December 29th. Finally, LADENBURG THALM/SH SH raised 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 investment 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.com, Entergy has an average rating of “Moderate Buy” and an average price target of $84.75.

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.