Entergy Corporation (NYSE:ETR) Shares Acquired by Lee Financial Co

Lee Financial Co increased its holdings in shares of Entergy Corporation (NYSE:ETR) by 102.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,396 shares of the utilities provider’s stock after purchasing an additional 11,838 shares during the quarter. Lee Financial Co’s holdings in Entergy were worth $1,774,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Thrivent Financial for Lutherans boosted its position in shares of Entergy by 21.4% during the third quarter. Thrivent Financial for Lutherans now owns 986,546 shares of the utilities provider’s stock worth $129,840,000 after buying an additional 174,093 shares during the period. Empowered Funds LLC lifted its stake in Entergy by 40.7% during the 3rd quarter. Empowered Funds LLC now owns 18,597 shares of the utilities provider’s stock worth $2,448,000 after acquiring an additional 5,381 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Entergy by 4.0% during the 3rd quarter. Principal Financial Group Inc. now owns 280,262 shares of the utilities provider’s stock valued at $36,885,000 after acquiring an additional 10,697 shares during the period. Ausbil Investment Management Ltd grew its position in Entergy by 11.4% in the 3rd quarter. Ausbil Investment Management Ltd now owns 97,218 shares of the utilities provider’s stock valued at $12,795,000 after acquiring an additional 9,986 shares in the last quarter. Finally, Flagship Harbor Advisors LLC increased its stake in Entergy by 74.3% during the fourth quarter. Flagship Harbor Advisors LLC now owns 7,959 shares of the utilities provider’s stock worth $603,000 after purchasing an additional 3,393 shares during the period. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Deanna D. Rodriguez sold 6,088 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $73.94, for a total value of $450,146.72. Following the completion of the sale, the insider now directly owns 3,952 shares of the company’s stock, valued at approximately $292,210.88. This represents a 60.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ETR. Bank of America lowered shares of Entergy from a “buy” rating to a “neutral” rating and raised their price objective for the company from $69.00 to $77.00 in a research note on Monday, November 4th. Scotiabank dropped their price target on shares of 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 increased their price objective on Entergy from $68.50 to $85.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. BMO Capital Markets lowered their target price on Entergy from $83.00 to $79.50 and set an “outperform” rating for the company in a research note on Monday, November 18th. Finally, LADENBURG THALM/SH SH raised Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price objective for the company in a research report on Thursday, January 30th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $79.81.

Entergy Stock Down 0.7 %

ETR stock opened at $82.64 on Friday. The company’s 50 day moving average is $78.32 and its two-hundred day moving average is $70.56. Entergy Corporation has a twelve month low of $48.93 and a twelve month high of $84.46. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 1.77. The stock has a market cap of $35.44 billion, a P/E ratio of 20.13, a PEG ratio of 2.53 and a beta of 0.72.

Entergy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 10th will be paid a $0.60 dividend. The ex-dividend date is Monday, February 10th. This represents a $2.40 annualized dividend and a yield of 2.90%. Entergy’s dividend payout ratio is presently 58.47%.

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.