Parcion Private Wealth LLC Purchases 4,108 Shares of Entergy Corporation (NYSE:ETR)

Parcion Private Wealth LLC increased its position in Entergy Corporation (NYSE:ETR) by 100.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,216 shares of the utilities provider’s stock after purchasing an additional 4,108 shares during the period. Parcion Private Wealth LLC’s holdings in Entergy were worth $623,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. State Street Corp boosted its stake in Entergy by 1.1% in the 3rd quarter. State Street Corp now owns 11,408,776 shares of the utilities provider’s stock worth $1,501,509,000 after purchasing an additional 128,667 shares in the last quarter. FMR LLC raised its position in Entergy by 5.0% in the 3rd quarter. FMR LLC now owns 6,613,647 shares of the utilities provider’s stock worth $870,422,000 after buying an additional 315,750 shares during the last quarter. Franklin Resources Inc. raised its position in Entergy by 53.0% in the 3rd quarter. Franklin Resources Inc. now owns 5,718,859 shares of the utilities provider’s stock worth $754,318,000 after buying an additional 1,981,611 shares during the last quarter. Geode Capital Management LLC raised its position in Entergy by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,965,257 shares of the utilities provider’s stock worth $651,206,000 after buying an additional 37,279 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Entergy by 60.6% in 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 last quarter. Institutional investors own 88.07% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on ETR. Guggenheim boosted their target price on Entergy from $72.50 to $82.50 and gave the stock a “buy” rating in a research report on Friday, November 1st. Evercore ISI boosted their target price on Entergy from $75.00 to $86.00 and gave the stock an “in-line” rating in a research report on Wednesday. Bank of America lowered Entergy from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $69.00 to $77.00 in a research report on Monday, November 4th. 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, Mizuho upped their price target on shares of Entergy from $69.00 to $82.50 and gave the company an “outperform” rating in a research report on Monday, November 4th. Six 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $82.14.

Insider Activity

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 transaction of $450,146.72. Following the completion of the transaction, the insider now directly owns 3,952 shares in the company, valued at approximately $292,210.88. This represents a 60.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.39% of the company’s stock.

Entergy Trading Down 0.1 %

ETR stock opened at $87.31 on Thursday. Entergy Corporation has a 1-year low of $49.80 and a 1-year high of $88.38. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.89 and a quick ratio of 0.59. The company has a market capitalization of $37.44 billion, a price-to-earnings ratio of 35.85, a PEG ratio of 2.67 and a beta of 0.72. The business has a 50 day simple moving average of $78.74 and a two-hundred day simple moving average of $71.08.

Entergy (NYSE:ETR) last posted 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. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $3.24 billion. Entergy had a return on equity of 10.75% and a net margin of 8.90%. During the same period in the prior year, the company posted $0.26 EPS. Research analysts anticipate that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be given 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 2.75%. Entergy’s dividend payout ratio is currently 98.56%.

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.