Keudell Morrison Wealth Management Raises Position in Entergy Corporation (NYSE:ETR)

Keudell Morrison Wealth Management grew its holdings in shares of Entergy Corporation (NYSE:ETR) by 29.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,944 shares of the utilities provider’s stock after purchasing an additional 666 shares during the period. Keudell Morrison Wealth Management’s holdings in Entergy were worth $223,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. State Street Corp lifted its holdings in shares of Entergy by 1.1% during the 3rd quarter. State Street Corp now owns 11,408,776 shares of the utilities provider’s stock valued at $1,501,509,000 after purchasing an additional 128,667 shares during the last quarter. FMR LLC lifted its holdings in shares of Entergy by 5.0% during the 3rd quarter. FMR LLC now owns 6,613,647 shares of the utilities provider’s stock valued at $870,422,000 after purchasing an additional 315,750 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Entergy by 53.0% during the 3rd quarter. Franklin Resources Inc. now owns 5,718,859 shares of the utilities provider’s stock valued at $754,318,000 after purchasing an additional 1,981,611 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Entergy by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 4,965,257 shares of the utilities provider’s stock valued at $651,206,000 after purchasing an additional 37,279 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Entergy by 60.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,589,727 shares of the utilities provider’s stock worth $472,444,000 after acquiring an additional 1,354,355 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Entergy Stock Performance

NYSE ETR opened at $81.17 on Friday. Entergy Corporation has a fifty-two week low of $48.08 and a fifty-two week high of $84.26. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.59 and a current ratio of 0.89. The firm has a market capitalization of $34.81 billion, a P/E ratio of 19.77, a PEG ratio of 2.44 and a beta of 0.71. The stock has a 50-day simple moving average of $77.11 and a two-hundred day simple moving average of $68.51.

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

Entergy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.96%. Entergy’s dividend payout ratio (DPR) is presently 58.47%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Scotiabank reduced their target price on Entergy from $165.00 to $82.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 7th. Barclays raised their target price on Entergy from $68.50 to $76.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. LADENBURG THALM/SH SH upgraded Entergy from a “neutral” rating to a “buy” rating and set a $86.50 target price for the company in a research note on Thursday. BMO Capital Markets reduced their target price on Entergy from $83.00 to $79.50 and set an “outperform” rating for the company in a research note on Monday, November 18th. Finally, Mizuho raised their target price on Entergy from $69.00 to $82.50 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $79.81.

Insider Activity

In other Entergy news, insider Haley Fisackerly sold 8,268 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $74.52, for a total value of $616,090.02. Following the completion of the transaction, the insider now owns 4,032 shares in the company, valued at $300,444.48. The trade was a 67.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Deanna D. Rodriguez sold 6,088 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $73.94, for a total transaction of $450,146.72. Following the transaction, the insider now 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 in the last ninety days. Company insiders own 0.39% of the company’s stock.

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.