Strategic Financial Concepts LLC Takes $4.39 Million Position in Entergy Corporation (NYSE:ETR)

Strategic Financial Concepts LLC acquired a new position in Entergy Corporation (NYSE:ETR) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 57,935 shares of the utilities provider’s stock, valued at approximately $4,393,000.

Other hedge funds have also recently bought and sold shares of the company. Franklin Resources Inc. boosted its position in 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 purchasing an additional 1,981,611 shares during the period. Jennison Associates LLC lifted its stake in shares of Entergy by 139.5% in 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 last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Entergy by 60.6% during the 3rd 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 grew its stake in Entergy by 96.0% in the 4th quarter. Confluence Investment Management LLC now owns 1,607,273 shares of the utilities provider’s stock valued at $121,863,000 after buying an additional 787,367 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Entergy by 1,490.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 687,874 shares of the utilities provider’s stock worth $52,155,000 after acquiring an additional 644,622 shares during the period. 88.07% of the stock is owned by institutional investors and hedge funds.

Entergy Stock Performance

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

Entergy Announces Dividend

The business also recently disclosed 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 of this dividend is Monday, February 10th. This represents a $2.40 annualized dividend and a dividend yield of 2.91%. Entergy’s dividend payout ratio is currently 58.47%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ETR shares. LADENBURG THALM/SH SH upgraded shares of Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price target for the company in a report on Thursday, January 30th. 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 note on Tuesday, January 7th. Wells Fargo & Company lifted their price target on Entergy from $68.50 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Guggenheim increased their price objective on Entergy from $72.50 to $82.50 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Mizuho boosted their target price on shares of Entergy from $69.00 to $82.50 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.81.

Insider Transactions at Entergy

In related news, insider Deanna D. Rodriguez sold 6,088 shares of Entergy stock in a transaction dated 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 transaction, the insider now directly owns 3,952 shares of the company’s stock, 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 SEC, which is available at this hyperlink. Also, insider Haley Fisackerly sold 8,268 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $74.52, for a total transaction of $616,090.02. Following the sale, the insider now directly owns 4,032 shares in the company, valued at $300,444.48. This represents a 67.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by insiders.

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.