Pinnacle Financial Partners Inc Acquires Shares of 3,384 Entergy Corporation (NYSE:ETR)

Pinnacle Financial Partners Inc acquired a new stake in Entergy Corporation (NYSE:ETR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,384 shares of the utilities provider’s stock, valued at approximately $257,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Fortis Group Advisors LLC boosted its position in shares of Entergy by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider’s stock valued at $26,000 after buying an additional 172 shares during the last quarter. Legacy Investment Solutions LLC purchased a new position in shares of Entergy during the third quarter valued at approximately $27,000. Fortitude Family Office LLC boosted its position in shares of Entergy by 423.8% during 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 during the last quarter. IFS Advisors LLC purchased a new position in shares of Entergy during the fourth quarter valued at approximately $30,000. Finally, Ulland Investment Advisors LLC boosted its position in shares of Entergy by 100.0% during the fourth quarter. Ulland Investment Advisors LLC now owns 400 shares of the utilities provider’s stock valued at $30,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Entergy Stock Performance

Shares of ETR opened at $84.94 on Monday. The firm has a market cap of $36.56 billion, a PE ratio of 34.88, a PEG ratio of 2.34 and a beta of 0.72. The stock’s fifty day moving average price is $79.45 and its two-hundred day moving average price is $71.67. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.72 and a quick ratio of 0.59. Entergy Corporation has a 1 year low of $49.80 and a 1 year high of $88.38.

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

Entergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 10th will be paid a dividend of $0.60 per share. The ex-dividend date is Monday, February 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.83%. Entergy’s payout ratio is 98.56%.

Insider Activity at Entergy

In related news, insider Deanna D. Rodriguez sold 6,088 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $73.94, for a total transaction of $450,146.72. Following the sale, the insider now directly owns 3,952 shares in the company, valued at approximately $292,210.88. The trade was a 60.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.39% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ETR shares. BMO Capital Markets lifted their target price on Entergy from $79.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. StockNews.com raised Entergy from a “sell” rating to a “hold” rating in a research report on Sunday, December 29th. LADENBURG THALM/SH SH raised Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price objective on the stock in a research report on Thursday, January 30th. Scotiabank cut their price objective on Entergy from $165.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 7th. Finally, Mizuho boosted their price objective on Entergy from $69.00 to $82.50 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Six investment 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.