UNIVEST FINANCIAL Corp Increases Stake in Entergy Corporation

UNIVEST FINANCIAL Corp has raised its stake in Entergy Corporation (NYSE:ETR) by an impressive 94.5% during the last quarter of the fiscal year. Based on their latest filing with the Securities and Exchange Commission, UNIVEST FINANCIAL now holds 16,550 shares in the utilities company after acquiring an additional 8,041 shares within that period. After this acquisition, the total value of UNIVEST FINANCIAL's holdings in Entergy is valued at approximately $1,255,000 at the conclusion of the quarter.

Recent Adjustments by Other Institutional Investors

Several other institutional investors and hedge funds have also recently adjusted their positions in Entergy. For instance, Fortis Group Advisors LLC has doubled its stake in Entergy, now owning 344 shares worth about $26,000 after adding 172 shares during the fourth quarter. Similarly, NBT Bank N A NY increased its holdings in Entergy by 100%, owning 340 shares valued at $26,000 following the purchase of 170 more shares during the same time. Legacy Investment Solutions LLC bought a new stake in Entergy estimated at around $27,000 in the previous quarter. Additionally, both Duncker Streett & Co. Inc. and Sandy Spring Bank increased their stakes by 100%, now holding 358 shares worth approximately $27,000 each. Overall, institutional investors and hedge funds own about 88.07% of Entergy's stock.

Analyst Insights and Forecasts

Several analysts on Wall Street have recently provided their insights on Entergy Corporation. Morgan Stanley raised their price target for the utility company from $75.00 to $78.00, giving it an "equal weight" rating. On the other hand, LADENBURG THALM/SH SH upgraded Entergy from a "neutral" to a "buy" rating, setting a new price target of $86.50. Scotiabank has lowered its target from $165.00 to $82.00, rating the stock as "sector perform.” In a positive note, Wells Fargo & Company raised their target price from $85.00 to $97.00, giving Entergy an "overweight" rating. In total, six analysts have assigned a hold rating, nine have given a buy rating, and one has issued a strong buy rating for the stock.

Share Performance Overview

As for Entergy’s stock performance, shares opened at $84.05 recently. The company has a current ratio of 0.72, a quick ratio of 0.59, and a debt-to-equity ratio of 1.81. The fifty-day simple moving average stands at $83.25, while the 200-day moving average is approximately $75.53. Currently, Entergy has a market capitalization of $36.20 billion, a price-to-earnings ratio of 34.52, and a PEG ratio of 2.34. Over the past year, the company's stock reached a low of $50.19 and a high of $88.38.

Quarterly Earnings Release

Entergy Corporation recently reported its quarterly earnings on February 18. The utility provider achieved earnings of $0.66 per share, surpassing analyst expectations of $0.63 by $0.03. The company's revenue totaled $2.74 billion for the quarter, which fell short of forecasts that anticipated $3.24 billion. The company's net margin stands at 8.90% with a return on equity of 10.68%. In the same period last year, Entergy reported earnings of $0.26 per share, and analysts predict that Entergy will post earnings of 3.88 per share for the current fiscal year.

Dividend Announcements

Entergy has also announced a quarterly dividend payment. This dividend was paid out on March 3 to stockholders who were on record as of February 10. The dividend amount was $0.60, leading to an annualized dividend of $2.40, which corresponds to a dividend yield of 2.86%. The company's dividend payout ratio is 98.77%.

Company Overview

Entergy Corporation, along with its subsidiaries, is involved in generating and distributing electricity in various regions of the United States. The company’s operations include the generation, transmission, distribution, and sale of electric power across states such as Arkansas, Louisiana, Mississippi, and Texas, including the City of New Orleans. They also provide natural gas distribution services.

Entergy, Investment, Stocks