Entergy Corporation (NYSE:ETR) Shares Bought by Equitable Trust Co.

Equitable Trust Co. raised its stake in Entergy Corporation (NYSE:ETR) by 99.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,334 shares of the utilities provider’s stock after acquiring an additional 39,055 shares during the period. Equitable Trust Co.’s holdings in Entergy were worth $5,939,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Franklin Resources Inc. boosted its stake in shares of Entergy by 53.0% during the third quarter. Franklin Resources Inc. now owns 5,718,859 shares of the utilities provider’s stock worth $754,318,000 after buying an additional 1,981,611 shares during the period. Jennison Associates LLC boosted its stake in shares of Entergy by 139.5% during the fourth quarter. Jennison Associates LLC now owns 2,423,556 shares of the utilities provider’s stock worth $183,754,000 after buying an additional 1,411,473 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Entergy by 60.6% during the third quarter. JPMorgan Chase & Co. now owns 3,589,727 shares of the utilities provider’s stock worth $472,444,000 after buying an additional 1,354,355 shares during the period. Confluence Investment Management LLC boosted its stake in shares of Entergy by 96.0% during the fourth quarter. Confluence Investment Management LLC now owns 1,607,273 shares of the utilities provider’s stock worth $121,863,000 after buying an additional 787,367 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Entergy by 1,490.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 687,874 shares of the utilities provider’s stock worth $52,155,000 after buying an additional 644,622 shares during the period. Institutional investors and hedge funds own 88.07% of the company’s stock.

Insider Buying and Selling

In other Entergy news, insider Deanna D. Rodriguez sold 6,088 shares of Entergy stock in a transaction on Friday, December 13th. The shares were sold at an average price of $73.94, for a total value of $450,146.72. Following the transaction, the insider now owns 3,952 shares in the company, valued at $292,210.88. This trade represents a 60.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Haley Fisackerly sold 8,268 shares of Entergy stock in a transaction on Tuesday, November 12th. The shares were 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 owns 4,032 shares in the company, valued at approximately $300,444.48. This trade represents a 67.22 % decrease in their position. The disclosure for this sale can be found here. 0.39% of the stock is owned by company insiders.

Entergy Stock Down 0.5 %

ETR stock opened at $82.37 on Monday. The company’s 50 day simple moving average is $77.68 and its 200-day simple moving average is $69.74. The firm has a market capitalization of $35.32 billion, a PE ratio of 20.07, a P/E/G ratio of 2.53 and a beta of 0.72. Entergy Corporation has a 12 month low of $48.08 and a 12 month high of $84.26. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.89 and a quick ratio of 0.59.

Entergy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be given a $0.60 dividend. The ex-dividend date is Monday, February 10th. This represents a $2.40 annualized dividend and a dividend yield of 2.91%. Entergy’s dividend payout ratio is presently 58.47%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ETR. Guggenheim increased their target price on shares of Entergy from $72.50 to $82.50 and gave the stock a “buy” rating in a research note on Friday, November 1st. Bank of America cut shares of Entergy from a “buy” rating to a “neutral” rating and increased their price target for the stock from $69.00 to $77.00 in a report on Monday, November 4th. Scotiabank cut their price target on shares of Entergy from $165.00 to $82.00 and set a “sector perform” rating for the company in a report on Tuesday, January 7th. KeyCorp cut shares of Entergy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Finally, Morgan Stanley raised shares of Entergy from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $58.00 to $75.00 in a report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Entergy currently has an average rating of “Moderate Buy” and an average price target of $79.81.

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.