Amalgamated Bank Purchases 43,703 Shares of Entergy Corporation (NYSE:ETR)

Amalgamated Bank boosted its position in Entergy Corporation (NYSE:ETR) by 104.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,651 shares of the utilities provider’s stock after purchasing an additional 43,703 shares during the quarter. Amalgamated Bank’s holdings in Entergy were worth $6,494,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its position in shares of Entergy by 53.0% in the third quarter. Franklin Resources Inc. now owns 5,718,859 shares of the utilities provider’s stock valued at $754,318,000 after acquiring an additional 1,981,611 shares during the period. Jennison Associates LLC raised its stake in Entergy by 139.5% in the 4th quarter. Jennison Associates LLC now owns 2,423,556 shares of the utilities provider’s stock worth $183,754,000 after purchasing an additional 1,411,473 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in 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 period. Bank of New York Mellon Corp boosted its holdings in Entergy by 87.4% in the 4th quarter. Bank of New York Mellon Corp now owns 2,848,293 shares of the utilities provider’s stock valued at $215,958,000 after purchasing an additional 1,328,694 shares during the period. Finally, Truist Financial Corp grew its position in shares of Entergy by 105.0% during the 4th quarter. Truist Financial Corp now owns 2,072,950 shares of the utilities provider’s stock worth $157,171,000 after purchasing an additional 1,061,527 shares in the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

Entergy Trading Up 0.8 %

ETR opened at $86.09 on Thursday. The company has a market cap of $37.05 billion, a P/E ratio of 35.36, a PEG ratio of 2.34 and a beta of 0.72. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 1.81. The company’s 50 day moving average is $80.13 and its 200-day moving average is $72.15. Entergy Corporation has a 1-year low of $49.80 and a 1-year high of $88.38.

Entergy (NYSE:ETR) last issued its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.66 EPS for the quarter, beating 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 net margin of 8.90% and a return on equity of 10.68%. During the same quarter in the prior year, the firm earned $0.26 EPS. Equities research analysts predict that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 10th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.79%. Entergy’s dividend payout ratio is currently 98.77%.

Insiders Place Their Bets

In other news, insider Deanna D. Rodriguez sold 6,088 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $73.94, for a total transaction of $450,146.72. Following the sale, the insider now directly owns 3,952 shares in the company, valued at approximately $292,210.88. The trade was a 60.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ETR. 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 report on Tuesday, January 7th. Wells Fargo & Company lifted their price objective on Entergy from $85.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Barclays upped their target price on Entergy from $68.50 to $76.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. KeyCorp cut Entergy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. Finally, Guggenheim upped their price objective on shares of Entergy from $72.50 to $82.50 and gave the stock a “buy” rating in a research report on Friday, November 1st. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $82.14.

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.