HighTower Advisors LLC Increases Stake in Entergy Corporation

HighTower Advisors LLC significantly increased its investment in Entergy Corporation (NYSE:ETR - Free Report) by 100.8% in the fourth quarter, as indicated in its latest Form 13F filing to the Securities & Exchange Commission. After acquiring an additional 44,083 shares during this period, the firm now owns a total of 87,795 shares in this utilities company, which were valued at approximately $6,657,000 at the close of the quarter.

Recent Changes Among Other Hedge Funds

In addition to HighTower Advisors, several other hedge funds have recently adjusted their positions in Entergy. For instance, Empowered Funds LLC increased its stake by 40.7% in the third quarter, bringing its total to 18,597 shares worth about $2,448,000, following the acquisition of 5,381 shares. Meanwhile, Strategic Financial Concepts LLC established a new stake valued at $4,393,000 in the fourth quarter, and Flagship Harbor Advisors LLC boosted its holdings by 74.3%, owning 7,959 shares now valued at $603,000 after purchasing 3,393 additional shares. Other notable investments included a new position from Thompson Siegel & Walmsley LLC, worth $32,541,000, and LaFleur & Godfrey LLC, which acquired a stake valued at $217,000 in the same quarter. Overall, institutional investors and hedge funds together hold approximately 88.07% of Entergy's stock.

Analysts Reassessing Price Targets

Recently, several equities research analysts have updated their price targets for Entergy shares. JPMorgan Chase & Co. raised its target from $87.00 to $98.00, assigning an "overweight" rating, while UBS Group increased its target from $72.00 to $90.00, giving a "buy" rating. Evercore ISI also raised its target from $75.00 to $86.00 with an "in-line" rating. Similarly, Wells Fargo & Company increased its price target from $85.00 to $97.00, maintaining an "overweight" rating. According to MarketBeat.com, the stock has received an average rating of "Moderate Buy" with an overall average price target of $84.11, with six analysts recommending a hold, nine a buy, and one a strong buy.

Current Trading Status of Entergy

As of Wednesday, the shares of NYSE ETR opened at $83.46. Entergy Corporation has experienced a fifty-two week range, with a low of $50.19 and a high of $88.38. The market capitalization is around $35.92 billion, with a P/E ratio of 34.27 and a P/E/G ratio of 2.34. The firm holds a debt-to-equity ratio of 1.81, a current ratio of 0.72, and a quick ratio of 0.59. The company's 50-day simple moving average stands at $82.43, while the 200-day simple moving average is at $74.66.

Financial Performance and Dividend Announcement

Entergy recently reported its quarterly earnings on February 18, indicating earnings per share (EPS) of $0.66, surpassing the consensus estimate of $0.63 by $0.03. This report showcased a return on equity of 10.68% and a net margin of 8.90%, with quarterly revenue totaling $2.74 billion, which fell below analyst predictions of $3.24 billion. Comparatively, during the same quarter the previous year, EPS was significantly lower at $0.26. Analysts forecast an average EPS of 3.88 for the current year. Additionally, a quarterly dividend of $0.60 per share was announced, which was paid on March 3 to stakeholders of record from February 10, representing an annualized dividend of $2.40 and a yield of 2.88%, although Entergy's payout ratio is notably high at 98.77%.

About Entergy Corporation

Entergy Corporation is involved in the generation and retail distribution of electricity across several states in the U.S., including Arkansas, Louisiana, Mississippi, and Texas. The company is responsible for generating, transmitting, distributing, and selling electric power, and it also handles natural gas distribution.

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