Concord Wealth Partners Purchases 2,569 Shares of Entergy Corporation (NYSE:ETR)

Concord Wealth Partners boosted its position in Entergy Corporation (NYSE:ETR) by 92.8% during the 4th quarter, Holdings Channel reports. The fund owned 5,338 shares of the utilities provider’s stock after buying an additional 2,569 shares during the period. Concord Wealth Partners’ holdings in Entergy were worth $405,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Entergy

In other news, insider Deanna D. Rodriguez sold 6,088 shares of the business’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 sale, the insider now owns 3,952 shares of the company’s stock, valued at $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 available at the SEC website. Also, insider Haley Fisackerly sold 8,268 shares of the firm’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 transaction of $616,090.02. Following the completion of the transaction, the insider now directly owns 4,032 shares of the company’s stock, valued at approximately $300,444.48. This trade represents a 67.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,756 shares of company stock valued at $1,095,637. Company insiders own 0.39% of the company’s stock.

Entergy Trading Down 0.0 %

NYSE ETR opened at $81.17 on Friday. The stock has a market capitalization of $34.81 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 2.44 and a beta of 0.71. The business’s fifty day moving average is $77.23 and its 200-day moving average is $68.70. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.89 and a quick ratio of 0.59. Entergy Corporation has a one year low of $48.08 and a one year high of $84.26.

Entergy (NYSE:ETR) last released its earnings results on Thursday, October 31st. The utilities provider reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.04. Entergy had a net margin of 14.83% and a return on equity of 9.53%. The firm had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.46 billion. During the same period in the previous year, the company earned $1.64 earnings per share. Equities research analysts predict that Entergy Corporation will post 3.59 EPS for the current 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 paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.96%. Entergy’s payout ratio is 58.47%.

Analysts Set New Price Targets

Several research firms have recently commented on ETR. Morgan Stanley raised shares of Entergy from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $58.00 to $75.00 in a research report on Monday, November 4th. Scotiabank decreased their price objective on Entergy from $165.00 to $82.00 and set a “sector perform” rating for the company in a report on Tuesday, January 7th. StockNews.com upgraded Entergy from a “sell” rating to a “hold” rating in a report on Sunday, December 29th. UBS Group upped their price target on Entergy from $72.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Finally, Bank of America cut Entergy from a “buy” rating to a “neutral” rating and raised their price objective for the company from $69.00 to $77.00 in a research note on Monday, November 4th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.81.

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.