Entergy Corporation (NYSE:ETR) Sees Significant Growth in Short Interest

by · The Cerbat Gem

Entergy Corporation (NYSE:ETR – Get Free Report) was the target of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 13,440,000 shares, a growth of 38.3% from the March 15th total of 9,720,000 shares. Currently, 3.1% of the company’s stock are sold short. Based on an average daily volume of 4,490,000 shares, the days-to-cover ratio is presently 3.0 days.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. NBT Bank N A NY grew its position in shares of Entergy by 100.0% in the fourth quarter. NBT Bank N A NY now owns 340 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 170 shares during the last quarter. Fortis Group Advisors LLC boosted its position in shares of Entergy by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 172 shares during the period. Grove Bank & Trust increased its position in Entergy by 188.5% during the first quarter. Grove Bank & Trust now owns 352 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 230 shares during the period. Duncker Streett & Co. Inc. boosted its holdings in Entergy by 100.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 358 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 179 shares during the period. Finally, Sandy Spring Bank lifted its stake in shares of Entergy by 100.0% in the fourth quarter. Sandy Spring Bank now owns 358 shares of the utilities provider’s stock valued at $27,000 after buying an additional 179 shares during the period. Institutional investors own 88.07% of the company’s stock.

Analyst Upgrades and Downgrades

ETR has been the topic of several analyst reports. UBS Group lifted their price target on shares of Entergy from $86.00 to $96.00 and gave the stock a “buy” rating in a research note on Friday, March 21st. Morgan Stanley boosted their price target on Entergy from $75.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. raised their price objective on Entergy from $87.00 to $98.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th. LADENBURG THALM/SH SH upgraded shares of Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price target for the company in a research note on Thursday, January 30th. Finally, Barclays raised their price objective on shares of Entergy from $79.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday, April 8th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $85.25.

Check Out Our Latest Research Report on ETR

Entergy Trading Up 1.1 %

NYSE:ETR opened at $83.11 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 1.81. Entergy has a 1-year low of $51.75 and a 1-year high of $88.38. The firm has a market capitalization of $35.80 billion, a price-to-earnings ratio of 34.13, a price-to-earnings-growth ratio of 2.34 and a beta of 0.56. The stock has a fifty day simple moving average of $83.54 and a 200 day simple moving average of $77.86.

Entergy (NYSE:ETR – Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates 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 business posted $0.26 EPS. Sell-side analysts forecast that Entergy will post 3.88 earnings per share for the current year.

Entergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 2nd will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Friday, May 2nd. Entergy’s dividend payout ratio is currently 98.77%.

About Entergy

(Get Free Report)

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.

Featured Articles