Van ECK Associates Corp Has $13.03 Million Stock Position in Entergy Corporation (NYSE:ETR)

Van ECK Associates Corp raised its position in Entergy Corporation (NYSE:ETR) by 111.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 171,783 shares of the utilities provider’s stock after acquiring an additional 90,437 shares during the period. Van ECK Associates Corp’s holdings in Entergy were worth $13,025,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of ETR. Legacy Investment Solutions LLC acquired a new stake in Entergy in the 3rd quarter valued at $27,000. Fortitude Family Office LLC lifted its stake in shares of 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 buying an additional 178 shares in the last quarter. Cetera Trust Company N.A acquired a new position in shares of Entergy during the third quarter valued at about $29,000. Coastline Trust Co bought a new stake in shares of Entergy during the third quarter worth about $31,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Entergy in the 3rd quarter worth about $42,000. Institutional investors own 88.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ETR. KeyCorp lowered Entergy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Guggenheim increased their price target on Entergy from $72.50 to $82.50 and gave the company a “buy” rating in a research report on Friday, November 1st. Wells Fargo & Company lifted their price objective on shares of Entergy from $68.50 to $85.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. StockNews.com upgraded shares of Entergy from a “sell” rating to a “hold” rating in a report on Sunday, December 29th. Finally, BMO Capital Markets reduced their price objective on shares of Entergy from $83.00 to $79.50 and set an “outperform” rating for the company in a research report on Monday, November 18th. 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, Entergy presently has a consensus rating of “Moderate Buy” and an average target price of $79.81.

Entergy Stock Down 0.7 %

ETR stock opened at $82.64 on Friday. The stock has a fifty day moving average of $78.32 and a 200-day moving average of $70.56. Entergy Corporation has a fifty-two week low of $48.93 and a fifty-two week high of $84.46. The company has a market capitalization of $35.44 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 2.53 and a beta of 0.72. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.59 and a current ratio of 0.89.

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 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 2.90%. Entergy’s payout ratio is 58.47%.

Insider Activity at Entergy

In other Entergy news, insider Deanna D. Rodriguez sold 6,088 shares of the business’s stock in a transaction 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 sale, the insider now owns 3,952 shares of the company’s stock, valued at $292,210.88. The trade was a 60.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.39% of the stock is currently owned by corporate 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.