119,523 Shares in Entergy Corporation (NYSE:ETR) Purchased by SVB Wealth LLC

SVB Wealth LLC acquired a new position in Entergy Corporation (NYSE:ETR) in the fourth quarter, HoldingsChannel reports. The fund acquired 119,523 shares of the utilities provider’s stock, valued at approximately $9,062,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. OneDigital Investment Advisors LLC lifted its stake in Entergy by 2.1% in the third quarter. OneDigital Investment Advisors LLC now owns 3,427 shares of the utilities provider’s stock worth $451,000 after acquiring an additional 69 shares during the period. Acropolis Investment Management LLC lifted its stake in Entergy by 0.8% in the third quarter. Acropolis Investment Management LLC now owns 8,836 shares of the utilities provider’s stock worth $1,163,000 after acquiring an additional 69 shares during the period. Great Valley Advisor Group Inc. lifted its stake in Entergy by 0.9% in the third quarter. Great Valley Advisor Group Inc. now owns 8,087 shares of the utilities provider’s stock worth $1,065,000 after acquiring an additional 74 shares during the period. Prossimo Advisors LLC lifted its stake in Entergy by 1.5% in the third quarter. Prossimo Advisors LLC now owns 5,971 shares of the utilities provider’s stock worth $786,000 after acquiring an additional 90 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its stake in Entergy by 1.3% in the third quarter. Brown Brothers Harriman & Co. now owns 7,233 shares of the utilities provider’s stock worth $952,000 after acquiring an additional 91 shares during the period. 88.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ETR. Barclays upped their price objective on shares of Entergy from $68.50 to $76.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. StockNews.com raised shares of Entergy from a “sell” rating to a “hold” rating in a research report on Sunday, December 29th. Wells Fargo & Company increased their price target on shares of Entergy from $85.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. LADENBURG THALM/SH SH raised shares of Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price target for the company in a research report on Thursday, January 30th. Finally, Morgan Stanley raised shares of Entergy from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $58.00 to $75.00 in a research report on Monday, November 4th. Six research 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 has a consensus rating of “Moderate Buy” and an average target price of $82.14.

Insider Buying and Selling

In related news, insider Deanna D. Rodriguez sold 6,088 shares of the stock in a transaction that occurred 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 approximately $292,210.88. This represents a 60.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.39% of the stock is owned by corporate insiders.

Entergy Stock Performance

Shares of Entergy stock opened at $87.29 on Friday. The firm has a market capitalization of $37.57 billion, a P/E ratio of 35.85, a PEG ratio of 2.34 and a beta of 0.72. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 1.81. The company has a 50 day moving average price of $80.59 and a 200 day moving average price of $72.43. Entergy Corporation has a 52 week low of $49.80 and a 52 week high of $88.38.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.03. Entergy had a net margin of 8.90% and a return on equity of 10.68%. The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the prior year, the company earned $0.26 EPS. Sell-side analysts expect that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Announces Dividend

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

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.