Entergy Corporation (NYSE:ETR) Position Increased by 44 Wealth Management LLC

44 Wealth Management LLC increased its position in shares of Entergy Corporation (NYSE:ETR) by 60.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,456 shares of the utilities provider’s stock after acquiring an additional 4,319 shares during the period. 44 Wealth Management LLC’s holdings in Entergy were worth $869,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ETR. Franklin Resources Inc. raised its holdings in shares of Entergy by 53.0% during the third quarter. Franklin Resources Inc. now owns 5,718,859 shares of the utilities provider’s stock worth $754,318,000 after acquiring an additional 1,981,611 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Entergy by 139.5% during the fourth quarter. Jennison Associates LLC now owns 2,423,556 shares of the utilities provider’s stock worth $183,754,000 after acquiring an additional 1,411,473 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Entergy by 60.6% during the third quarter. JPMorgan Chase & Co. now owns 3,589,727 shares of the utilities provider’s stock worth $472,444,000 after acquiring an additional 1,354,355 shares in the last quarter. Truist Financial Corp raised its holdings in shares of Entergy by 105.0% during the fourth quarter. Truist Financial Corp now owns 2,072,950 shares of the utilities provider’s stock worth $157,171,000 after acquiring an additional 1,061,527 shares in the last quarter. Finally, Confluence Investment Management LLC raised its holdings in shares of Entergy by 96.0% during the fourth quarter. Confluence Investment Management LLC now owns 1,607,273 shares of the utilities provider’s stock worth $121,863,000 after acquiring an additional 787,367 shares in the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Entergy news, insider Deanna D. Rodriguez sold 6,088 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were 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 owns 3,952 shares in the company, valued at $292,210.88. This trade represents a 60.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.39% of the company’s stock.

Entergy Stock Down 1.1 %

ETR stock opened at $84.94 on Friday. The company has a market cap of $36.56 billion, a PE ratio of 34.88, a price-to-earnings-growth 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. Entergy Corporation has a twelve month low of $49.80 and a twelve month high of $88.38. The business’s 50-day simple moving average is $79.24 and its 200 day simple moving average is $71.30.

Entergy (NYSE:ETR) last announced its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $3.24 billion. Entergy had a net margin of 8.90% and a return on equity of 10.68%. During the same quarter last year, the company earned $0.26 earnings per share. On average, research analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ETR shares. Wells Fargo & Company raised their target price on Entergy from $85.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday. Scotiabank cut their target price on Entergy from $165.00 to $82.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 7th. Bank of America lowered Entergy from a “buy” rating to a “neutral” rating and raised their target price for the company from $69.00 to $77.00 in a report on Monday, November 4th. UBS Group raised their target price on Entergy from $72.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Finally, Barclays raised their target price on Entergy from $68.50 to $76.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Six investment 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $82.14.

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.