Entergy (NYSE:ETR) Sees Large Volume Increase – Here’s Why

Entergy Corporation (NYSE:ETR) saw unusually-strong trading volume on Tuesday . Approximately 2,262,287 shares were traded during mid-day trading, a decline of 30% from the previous session’s volume of 3,249,205 shares.The stock last traded at $82.77 and had previously closed at $85.45.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ETR shares. BMO Capital Markets boosted their price objective on shares of Entergy from $79.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Evercore ISI boosted their price objective on shares of Entergy from $75.00 to $86.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. boosted their price objective on shares of Entergy from $87.00 to $98.00 and gave the company an “overweight” rating in a report on Tuesday, March 11th. Wells Fargo & Company boosted their price objective on shares of Entergy from $85.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Finally, UBS Group boosted their price objective on shares of Entergy from $72.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $84.11.

Entergy Price Performance

The stock’s 50 day moving average is $82.59 and its two-hundred day moving average is $74.73. The stock has a market capitalization of $36.48 billion, a PE ratio of 34.80, 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 current ratio of 0.72 and a quick ratio of 0.59.

Entergy (NYSE:ETR) last issued its earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.03. The firm had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $3.24 billion. Entergy had a net margin of 8.90% and a return on equity of 10.68%. During the same quarter last year, the company earned $0.26 earnings per share. As a group, sell-side analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 10th were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $2.40 annualized dividend and a yield of 2.83%. Entergy’s dividend payout ratio (DPR) is 98.77%.

Hedge Funds Weigh In On Entergy

Several hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System increased its stake in Entergy by 91.6% in the fourth quarter. California State Teachers Retirement System now owns 509,227 shares of the utilities provider’s stock valued at $38,610,000 after purchasing an additional 243,433 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Entergy by 230.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 96,526 shares of the utilities provider’s stock valued at $7,319,000 after purchasing an additional 67,352 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new position in Entergy in the fourth quarter valued at approximately $10,389,000. Northstar Financial Companies Inc. purchased a new position in Entergy in the fourth quarter valued at approximately $262,000. Finally, Anchor Pointe Wealth Management LLC purchased a new position in Entergy in the fourth quarter valued at approximately $241,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Entergy Company 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.