Kingswood Wealth Advisors LLC Trims Stock Position in Entergy Corporation (NYSE:ETR)

Kingswood Wealth Advisors LLC cut its stake in Entergy Corporation (NYSE:ETR) by 10.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,401 shares of the utilities provider’s stock after selling 275 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Entergy were worth $205,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Entergy by 101.9% in the fourth quarter. Vanguard Group Inc. now owns 52,133,646 shares of the utilities provider’s stock valued at $3,952,773,000 after acquiring an additional 26,312,267 shares during the last quarter. Bank of America Corp DE lifted its position in Entergy by 142.8% in the fourth quarter. Bank of America Corp DE now owns 17,594,747 shares of the utilities provider’s stock valued at $1,334,034,000 after acquiring an additional 10,347,926 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Entergy by 71.4% in the fourth quarter. Ameriprise Financial Inc. now owns 12,884,421 shares of the utilities provider’s stock valued at $976,895,000 after acquiring an additional 5,368,396 shares during the last quarter. FMR LLC lifted its position in Entergy by 90.7% in the fourth quarter. FMR LLC now owns 12,612,407 shares of the utilities provider’s stock valued at $956,273,000 after acquiring an additional 5,998,760 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in Entergy by 66.7% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,042,159 shares of the utilities provider’s stock valued at $837,216,000 after acquiring an additional 4,418,528 shares during the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Entergy Trading Up 2.1%

NYSE ETR opened at $82.65 on Tuesday. The stock has a market capitalization of $35.60 billion, a P/E ratio of 26.83, a P/E/G ratio of 2.21 and a beta of 0.60. Entergy Corporation has a 52-week low of $52.07 and a 52-week high of $88.38. The firm has a 50-day moving average price of $82.68 and a 200 day moving average price of $81.44. The company has a quick ratio of 0.55, a current ratio of 0.82 and a debt-to-equity ratio of 1.91.

Entergy (NYSE:ETR) last posted its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.22. The firm had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Entergy had a net margin of 11.26% and a return on equity of 11.43%. During the same period in the prior year, the company posted $0.54 earnings per share. Equities research analysts expect that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 2nd were issued a dividend of $0.60 per share. The ex-dividend date was Friday, May 2nd. This represents a $2.40 annualized dividend and a yield of 2.90%. Entergy’s dividend payout ratio is currently 77.92%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Barclays boosted their price target on shares of Entergy from $88.00 to $91.00 and gave the company an “overweight” rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. lifted their price objective on shares of Entergy from $87.00 to $98.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th. UBS Group lifted 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. KeyCorp upgraded shares of Entergy from a “sector weight” rating to an “overweight” rating and set a $85.00 price objective on the stock in a research note on Wednesday, May 14th. Finally, BMO Capital Markets lifted their price objective on shares of Entergy from $89.00 to $93.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $86.25.

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.