Wrapmanager Inc. Has $229,000 Position in Entergy Corporation (NYSE:ETR)

Wrapmanager Inc. raised its position in Entergy Corporation (NYSE:ETR) by 53.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,014 shares of the utilities provider’s stock after acquiring an additional 1,044 shares during the quarter. Wrapmanager Inc.’s holdings in Entergy were worth $229,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Legacy Investment Solutions LLC acquired a new stake in shares of Entergy during the 3rd quarter worth about $27,000. Fortitude Family Office LLC lifted its stake in shares of Entergy by 423.8% during the 3rd quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock worth $29,000 after buying an additional 178 shares during the last quarter. Coastline Trust Co acquired a new stake in shares of Entergy during the 3rd quarter worth about $31,000. Ashton Thomas Securities LLC acquired a new stake in shares of Entergy during the 3rd quarter worth about $42,000. Finally, Fortis Group Advisors LLC lifted its stake in shares of Entergy by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider’s stock worth $26,000 after buying an additional 172 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Guggenheim raised their target price on shares of Entergy from $72.50 to $82.50 and gave the stock a “buy” rating in a research note on Friday, November 1st. Barclays lifted 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. KeyCorp cut shares of Entergy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Bank of America cut shares of Entergy from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $69.00 to $77.00 in a research note on Monday, November 4th. Finally, Morgan Stanley upgraded shares of Entergy from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $58.00 to $75.00 in a research note on Monday, November 4th. Six equities research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $82.14.

Entergy Price Performance

ETR stock opened at $85.51 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 1.81. Entergy Corporation has a 12 month low of $49.80 and a 12 month high of $88.38. The firm has a market cap of $36.80 billion, a P/E ratio of 35.12, a P/E/G ratio of 2.34 and a beta of 0.72. The company’s 50-day moving average price is $79.88 and its two-hundred day moving average price is $72.05.

Entergy (NYSE:ETR) last released its earnings results on Tuesday, February 18th. The utilities provider reported $0.66 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 net margin of 8.90% and a return on equity of 10.68%. During the same period last year, the firm earned $0.26 EPS. On average, analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The business 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 dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Monday, February 10th. Entergy’s dividend payout ratio (DPR) is presently 98.77%.

Insider Activity at Entergy

In related news, insider Deanna D. Rodriguez sold 6,088 shares of Entergy stock in a transaction that occurred 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 directly owns 3,952 shares of the company’s stock, valued at approximately $292,210.88. The trade was a 60.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.39% of the stock is currently owned by 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.