Smith Group Asset Management LLC Makes New Investment in Entergy Corporation (NYSE:ETR)

Smith Group Asset Management LLC acquired a new stake in Entergy Corporation (NYSE:ETR) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,000 shares of the utilities provider’s stock, valued at approximately $455,000.

Several other institutional investors have also recently modified their holdings of the company. Legacy Investment Solutions LLC acquired a new stake in Entergy during the 3rd quarter valued at approximately $27,000. Cetera Trust Company N.A acquired a new position in Entergy during the third quarter valued at $29,000. Fortitude Family Office LLC boosted its holdings in Entergy by 423.8% in the third quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 178 shares during the last quarter. IFS Advisors LLC acquired a new stake in Entergy during the 4th quarter worth about $30,000. Finally, Ulland Investment Advisors LLC raised its stake in shares of Entergy by 100.0% during the 4th quarter. Ulland Investment Advisors LLC now owns 400 shares of the utilities provider’s stock valued at $30,000 after buying an additional 200 shares during the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Entergy Stock Up 2.3 %

Shares of ETR opened at $79.43 on Thursday. Entergy Corporation has a 52-week low of $48.08 and a 52-week high of $84.26. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 1.77. The stock has a fifty day simple moving average of $76.93 and a two-hundred day simple moving average of $68.34. The company has a market capitalization of $34.06 billion, a PE ratio of 19.35, a price-to-earnings-growth ratio of 2.54 and a beta of 0.71.

Entergy (NYSE:ETR) last issued its earnings results on Thursday, October 31st. The utilities provider reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.04. The company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.46 billion. Entergy had a net margin of 14.83% and a return on equity of 9.53%. During the same period in the previous year, the firm earned $1.64 earnings per share. As a group, equities analysts forecast that Entergy Corporation will post 3.59 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on ETR shares. Mizuho lifted their price target on Entergy from $69.00 to $82.50 and gave the company an “outperform” rating in a research report on Monday, November 4th. UBS Group raised their price target on shares of Entergy from $72.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company upped their price objective on shares of Entergy from $68.50 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Morgan Stanley upgraded Entergy from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $58.00 to $75.00 in a research note on Monday, November 4th. Finally, Scotiabank lowered their price target on Entergy from $165.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 7th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $77.37.

Insider Buying and Selling at Entergy

In related news, insider Haley Fisackerly sold 8,268 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $74.52, for a total transaction of $616,090.02. Following the completion of the transaction, the insider now directly owns 4,032 shares in the company, valued at $300,444.48. This trade represents a 67.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Deanna D. Rodriguez sold 6,088 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $73.94, for a total transaction of $450,146.72. Following the completion of the transaction, the insider now directly owns 3,952 shares of the company’s stock, valued at approximately $292,210.88. The trade was a 60.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,756 shares of company stock worth $1,095,637 over the last quarter. 0.39% of the stock is currently owned by company insiders.

Entergy 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.