Longboard Asset Management LP Takes Position in Entergy Corporation (NYSE:ETR)

Longboard Asset Management LP purchased a new position in shares of Entergy Corporation (NYSE:ETR) in the 4th quarter, HoldingsChannel reports. The firm purchased 3,150 shares of the utilities provider’s stock, valued at approximately $239,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Thrivent Financial for Lutherans raised its position in shares of Entergy by 21.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 986,546 shares of the utilities provider’s stock worth $129,840,000 after acquiring an additional 174,093 shares in the last quarter. Empowered Funds LLC grew its stake in Entergy by 40.7% during the third quarter. Empowered Funds LLC now owns 18,597 shares of the utilities provider’s stock worth $2,448,000 after purchasing an additional 5,381 shares during the period. Principal Financial Group Inc. increased its holdings in Entergy by 4.0% in the third quarter. Principal Financial Group Inc. now owns 280,262 shares of the utilities provider’s stock worth $36,885,000 after purchasing an additional 10,697 shares in the last quarter. Ausbil Investment Management Ltd lifted its stake in Entergy by 11.4% in the third quarter. Ausbil Investment Management Ltd now owns 97,218 shares of the utilities provider’s stock valued at $12,795,000 after buying an additional 9,986 shares during the period. Finally, Thompson Siegel & Walmsley LLC acquired a new position in Entergy in the third quarter valued at approximately $32,541,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

Wall Street Analysts Forecast Growth

ETR has been the subject of several research analyst reports. Royal Bank of Canada lifted their price objective on shares of Entergy from $68.50 to $70.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Guggenheim lifted their price target on shares of Entergy from $72.50 to $82.50 and gave the company a “buy” rating in a research note on Friday, November 1st. Mizuho upped their price objective on shares of Entergy from $69.00 to $82.50 and gave the company an “outperform” rating in a report on Monday, November 4th. 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, January 30th. Finally, Scotiabank decreased their target price on Entergy from $165.00 to $82.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 7th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $79.81.

Entergy Stock Up 1.2 %

Shares of NYSE:ETR opened at $82.04 on Tuesday. The business’s 50 day moving average is $77.23 and its 200 day moving average is $68.90. Entergy Corporation has a 12-month low of $48.08 and a 12-month high of $84.26. The stock has a market cap of $35.18 billion, a price-to-earnings ratio of 19.99, a PEG ratio of 2.50 and a beta of 0.72. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 1.77.

Entergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be paid a $0.60 dividend. The ex-dividend date is Monday, February 10th. This represents a $2.40 annualized dividend and a dividend yield of 2.93%. Entergy’s payout ratio is 58.47%.

Insider Activity

In other news, insider Eliecer Viamontes sold 400 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $73.50, for a total value of $29,400.00. Following the completion of the transaction, the insider now directly owns 8,346 shares of the company’s stock, valued at $613,431. This represents a 4.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Haley Fisackerly sold 8,268 shares of Entergy stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $74.52, for a total value of $616,090.02. Following the sale, the insider now owns 4,032 shares in the company, valued at $300,444.48. This trade represents a 67.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,756 shares of company stock worth $1,095,637 over the last quarter. Insiders own 0.54% of the company’s stock.

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.