Lake Street Advisors Group LLC Increases Position in Entergy Corporation (NYSE:ETR)

Lake Street Advisors Group LLC raised its position in shares of Entergy Corporation (NYSE:ETR) by 105.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,196 shares of the utilities provider’s stock after buying an additional 2,149 shares during the period. Lake Street Advisors Group LLC’s holdings in Entergy were worth $318,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ETR. Franklin Resources Inc. boosted its holdings in 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 acquiring an additional 1,981,611 shares during the period. Jennison Associates LLC lifted its position 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 purchasing an additional 1,411,473 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Entergy by 60.6% in the third quarter. JPMorgan Chase & Co. now owns 3,589,727 shares of the utilities provider’s stock valued at $472,444,000 after purchasing an additional 1,354,355 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Entergy by 87.4% in the fourth quarter. Bank of New York Mellon Corp now owns 2,848,293 shares of the utilities provider’s stock valued at $215,958,000 after purchasing an additional 1,328,694 shares in the last quarter. Finally, Truist Financial Corp increased its stake in Entergy by 105.0% during the 4th quarter. Truist Financial Corp now owns 2,072,950 shares of the utilities provider’s stock worth $157,171,000 after buying an additional 1,061,527 shares during the period. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Deanna D. Rodriguez sold 6,088 shares of the 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 completion of the sale, the insider now owns 3,952 shares in the company, valued at $292,210.88. This represents a 60.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.39% of the stock is currently owned by company insiders.

Entergy Stock Up 2.4 %

Shares of NYSE:ETR opened at $87.29 on Friday. The firm has a 50 day simple moving average of $80.59 and a 200-day simple moving average of $72.43. Entergy Corporation has a twelve month low of $49.80 and a twelve month high of $88.38. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $37.57 billion, a PE ratio of 35.85, a P/E/G ratio of 2.34 and a beta of 0.72.

Entergy (NYSE:ETR) last announced its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $3.24 billion. Entergy had a net margin of 8.90% and a return on equity of 10.68%. During the same period in the previous year, the company earned $0.26 earnings per share. On average, equities analysts predict that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 10th will be given a $0.60 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.75%. Entergy’s dividend payout ratio (DPR) is presently 98.77%.

Analysts Set New Price Targets

ETR has been the subject of several recent research reports. Mizuho raised their price target on shares of Entergy from $69.00 to $82.50 and gave the company an “outperform” rating in a research report on Monday, November 4th. StockNews.com upgraded Entergy from a “sell” rating to a “hold” rating in a report on Sunday, December 29th. UBS Group upped their price target on Entergy from $72.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Evercore ISI increased their price target on Entergy from $75.00 to $86.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. Finally, Bank of America downgraded Entergy from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $69.00 to $77.00 in a research report on Monday, November 4th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Entergy currently has a consensus rating of “Moderate Buy” and an average target price of $82.14.

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.