DNB Asset Management AS Increases Stake in Entergy Co. (NYSE:ETR)

DNB Asset Management AS grew its position in shares of Entergy Co. (NYSE:ETR) by 3.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 47,609 shares of the utilities provider’s stock after acquiring an additional 1,574 shares during the period. DNB Asset Management AS’s holdings in Entergy were worth $5,094,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tidemark LLC bought a new stake in shares of Entergy during the 4th quarter valued at $25,000. Heritage Wealth Advisors boosted its stake in Entergy by 2,172.7% during the first quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 239 shares in the last quarter. OLD Point Trust & Financial Services N A purchased a new stake in Entergy in the fourth quarter worth about $35,000. Newbridge Financial Services Group Inc. increased its stake in shares of Entergy by 40.0% during the first quarter. Newbridge Financial Services Group Inc. now owns 385 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 110 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Entergy by 134.3% during the first quarter. Venturi Wealth Management LLC now owns 396 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 227 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ETR shares. LADENBURG THALM/SH SH reaffirmed a “neutral” rating and set a $109.50 price objective (down previously from $117.00) on shares of Entergy in a research report on Wednesday, June 12th. BMO Capital Markets increased their price objective on shares of Entergy from $124.00 to $131.00 and gave the company an “outperform” rating in a research report on Monday. Barclays decreased their target price on shares of Entergy from $116.00 to $115.00 and set an “equal weight” rating for the company in a report on Monday, July 22nd. Scotiabank upped their price objective on Entergy from $104.00 to $115.00 and gave the company a “sector perform” rating in a research report on Friday, August 2nd. Finally, Wells Fargo & Company boosted their price target on Entergy from $125.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Entergy presently has an average rating of “Moderate Buy” and an average target price of $118.19.

Entergy Stock Performance

Shares of NYSE ETR opened at $116.16 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 1.81. Entergy Co. has a 12-month low of $87.10 and a 12-month high of $123.61. The firm has a market capitalization of $24.80 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of 2.29 and a beta of 0.71. The firm has a 50 day moving average of $109.38 and a 200 day moving average of $105.99.

Entergy (NYSE:ETR) last announced its earnings results on Thursday, August 1st. The utilities provider reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.16. Entergy had a return on equity of 10.10% and a net margin of 14.75%. The company had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same period last year, the firm earned $1.84 EPS. On average, research analysts anticipate that Entergy Co. will post 7.21 earnings per share for the current year.

Entergy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 13th will be issued a $1.13 dividend. This represents a $4.52 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend is Tuesday, August 13th. Entergy’s dividend payout ratio is 45.34%.

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.