Gilliland Jeter Wealth Management LLC Boosts Position in Entergy Corporation (NYSE:ETR)

Gilliland Jeter Wealth Management LLC boosted its holdings in Entergy Corporation (NYSE:ETR) by 247.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,821 shares of the utilities provider’s stock after purchasing an additional 2,010 shares during the quarter. Gilliland Jeter Wealth Management LLC’s holdings in Entergy were worth $214,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of Entergy by 1.1% in the 3rd quarter. State Street Corp now owns 11,408,776 shares of the utilities provider’s stock valued at $1,501,509,000 after buying an additional 128,667 shares during the last quarter. FMR LLC boosted its stake in Entergy by 5.0% in the third quarter. FMR LLC now owns 6,613,647 shares of the utilities provider’s stock valued at $870,422,000 after acquiring an additional 315,750 shares in the last quarter. Franklin Resources Inc. grew 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 purchasing an additional 1,981,611 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Entergy by 0.8% during the third quarter. Geode Capital Management LLC now owns 4,965,257 shares of the utilities provider’s stock worth $651,206,000 after purchasing an additional 37,279 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Entergy by 60.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,589,727 shares of the utilities provider’s stock valued at $472,444,000 after purchasing an additional 1,354,355 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Insiders Place Their Bets

In related news, insider Haley Fisackerly sold 8,268 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $74.52, for a total value of $616,090.02. Following the sale, the insider now owns 4,032 shares in the company, valued at $300,444.48. This represents a 67.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Deanna D. Rodriguez sold 6,088 shares of Entergy stock in a transaction 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 transaction, 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 disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. LADENBURG THALM/SH SH upgraded Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price target on the stock in a research note on Thursday, January 30th. Bank of America cut shares of Entergy from a “buy” rating to a “neutral” rating and lifted their target price for the company from $69.00 to $77.00 in a report on Monday, November 4th. BMO Capital Markets decreased their price target on shares of Entergy from $83.00 to $79.50 and set an “outperform” rating for the company in a research note on Monday, November 18th. Barclays lifted their price objective on shares of Entergy from $68.50 to $76.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Guggenheim increased 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. Five 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $79.81.

Entergy Price Performance

Shares of ETR opened at $82.81 on Friday. 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’s 50 day moving average is $77.50 and its two-hundred day moving average is $69.36. Entergy Corporation has a twelve month low of $48.08 and a twelve month high of $84.26. The firm has a market capitalization of $35.51 billion, a PE ratio of 20.17, a P/E/G ratio of 2.50 and a beta of 0.72.

Entergy Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Monday, February 10th. Entergy’s dividend payout ratio is presently 58.47%.

About Entergy

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.