HighTower Advisors LLC Increases Stake in Entergy Corporation

HighTower Advisors LLC has significantly increased its investment in Entergy Corporation (NYSE:ETR) by 100.8% in the fourth quarter, as reported in its latest Form 13F filing with the Securities and Exchange Commission. The firm now holds a total of 87,795 shares of Entergy after acquiring an additional 44,083 shares during the quarter. As of the end of this quarter, HighTower Advisors LLC's stake in Entergy is valued at approximately $6,657,000.

Additional investment activity in Entergy has also been observed among other hedge funds. Empowered Funds LLC raised its position in the company by 40.7% during the third quarter, owning 18,597 shares valued at $2,448,000 after a purchase of 5,381 shares. Strategic Financial Concepts LLC initiated a new position in Entergy in the fourth quarter, valued at $4,393,000. Flagship Harbor Advisors LLC saw an increase of 74.3% in their stake during the fourth quarter, now possessing 7,959 shares worth $603,000 after acquiring 3,393 shares.

Thompson Siegel & Walmsley LLC also entered a new position in shares of Entergy during the third quarter, valued at $32,541,000. Additionally, LaFleur & Godfrey LLC acquired a new stake in Entergy worth $217,000 in the fourth quarter. Overall, institutional investors and hedge funds control about 88.07% of Entergy's shares.

Analyst Ratings and Price Targets

Recent analyses have seen several equity research analysts updating their price targets for Entergy shares. For example, JPMorgan Chase & Co. raised its price target from $87.00 to $98.00 while assigning an “overweight” rating. UBS Group also increased the target price from $72.00 to $90.00 with a “buy” rating. Evercore ISI adjusted their target from $75.00 to $86.00 and maintained an “in-line” rating, while StockNews.com upgraded Entergy from a “sell” to a “hold” rating.

Wells Fargo & Company raised their target price on Entergy from $85.00 to $97.00, providing an “overweight” rating. Overall, six analysts have categorized the stock with a hold rating, nine have given it a buy rating, and one assigned a strong buy rating. Current data suggests a average rating of “Moderate Buy” with a price target of $84.11 according to MarketBeat.com.

Recent Performance of Entergy Stock

As of Wednesday, shares of Entergy Corporation (NYSE: ETR) opened at $83.46. The stock has experienced a range with a fifty-two week low of $50.19 and a high of $88.38. Entergy holds a market capitalization of $35.92 billion, a P/E ratio of 34.27, and a P/E/G ratio of 2.34, alongside a beta of 0.68. The company reports a debt-to-equity ratio of 1.81, a current ratio of 0.72, and a quick ratio of 0.59. Recent moving averages include a 50-day average of $82.43 and a 200-day average of $74.66.

Dividend Announcement

Entergy has also recently announced its quarterly dividend, which was distributed on March 3rd. Shareholders on record as of February 10th received a dividend of $0.60 per share, with the ex-dividend date noted as February 10th. This dividend reflects an annualized amount of $2.40 and yields 2.88%, with a payout ratio currently at 98.77%.

Company Overview

Entergy Corporation, along with its subsidiaries, is involved in generating and distributing electricity in the United States. The company services parts of Arkansas, Louisiana, Mississippi, and Texas, including the City of New Orleans, in addition to distributing natural gas.

HighTower, Entergy, Investments