Norden Group LLC Grows Holdings in Entergy Corporation (NYSE:ETR)

Norden Group LLC increased its position in shares of Entergy Corporation (NYSE:ETR) by 96.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 21,779 shares of the utilities provider’s stock after buying an additional 10,696 shares during the period. Norden Group LLC’s holdings in Entergy were worth $1,651,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fortis Group Advisors LLC increased its position in shares of Entergy by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 172 shares during the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of Entergy in the 3rd quarter worth about $27,000. Duncker Streett & Co. Inc. increased its position in shares of Entergy by 100.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 358 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 179 shares during the last quarter. IFS Advisors LLC bought a new stake in shares of Entergy in the 4th quarter worth about $30,000. Finally, Ulland Investment Advisors LLC increased its position in shares of Entergy by 100.0% in the 4th quarter. Ulland Investment Advisors LLC now owns 400 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ETR shares. Barclays boosted their target price on shares of Entergy from $68.50 to $76.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. LADENBURG THALM/SH SH raised shares of Entergy from a “neutral” rating to a “buy” rating and set a $86.50 target price for the company in a research report on Thursday, January 30th. Bank of America downgraded shares of 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. UBS Group lifted their price target on shares of Entergy from $72.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Finally, KeyCorp lowered shares of Entergy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $82.14.

Insider Transactions at Entergy

In other news, insider Deanna D. Rodriguez sold 6,088 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.39% of the company’s stock.

Entergy Trading Up 2.4 %

Entergy stock opened at $87.29 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 1.81. The firm has a 50-day moving average price of $80.59 and a two-hundred day moving average price of $72.53. The firm has a market capitalization of $37.57 billion, a price-to-earnings ratio of 35.85, a PEG ratio of 2.34 and a beta of 0.72. Entergy Corporation has a 52-week low of $49.80 and a 52-week high of $88.38.

Entergy (NYSE:ETR) last posted its earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. The firm had revenue of $2.74 billion during 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 in the previous year, the business posted $0.26 EPS. Sell-side analysts expect that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Dividend Announcement

The company also recently announced 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 2.75%. The ex-dividend date of this dividend is Monday, February 10th. Entergy’s payout ratio is 98.77%.

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.