Princeton Global Asset Management LLC Buys 103,956 Shares of Entergy Corporation (NYSE:ETR)

Princeton Global Asset Management LLC raised its stake in shares of Entergy Corporation (NYSE:ETR) by 16,501.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 104,586 shares of the utilities provider’s stock after acquiring an additional 103,956 shares during the quarter. Entergy makes up about 1.5% of Princeton Global Asset Management LLC’s portfolio, making the stock its 15th biggest position. Princeton Global Asset Management LLC’s holdings in Entergy were worth $7,930,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. OneDigital Investment Advisors LLC boosted its position in shares of Entergy by 2.1% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 3,427 shares of the utilities provider’s stock worth $451,000 after purchasing an additional 69 shares in the last quarter. Acropolis Investment Management LLC raised its stake in Entergy by 0.8% in the 3rd quarter. Acropolis Investment Management LLC now owns 8,836 shares of the utilities provider’s stock worth $1,163,000 after acquiring an additional 69 shares during the last quarter. Great Valley Advisor Group Inc. raised its stake in Entergy by 0.9% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 8,087 shares of the utilities provider’s stock worth $1,065,000 after acquiring an additional 74 shares during the last quarter. Bank & Trust Co raised its stake in Entergy by 12.8% in the 3rd quarter. Bank & Trust Co now owns 795 shares of the utilities provider’s stock worth $105,000 after acquiring an additional 90 shares during the last quarter. Finally, Prossimo Advisors LLC raised its stake in Entergy by 1.5% in the 3rd quarter. Prossimo Advisors LLC now owns 5,971 shares of the utilities provider’s stock worth $786,000 after acquiring an additional 90 shares during the last quarter. Institutional investors own 88.07% of the company’s stock.

Insider Activity at Entergy

In other Entergy news, insider Deanna D. Rodriguez sold 6,088 shares of the business’s stock in a transaction that occurred 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Haley Fisackerly sold 8,268 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $74.52, for a total value of $616,090.02. Following the completion of the sale, the insider now directly owns 4,032 shares in the company, valued at approximately $300,444.48. The trade was a 67.22 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,756 shares of company stock worth $1,095,637. Insiders own 0.54% of the company’s stock.

Entergy Trading Down 0.0 %

Shares of Entergy stock opened at $81.17 on Monday. Entergy Corporation has a 1-year low of $48.08 and a 1-year high of $84.26. The stock has a market cap of $34.81 billion, a P/E ratio of 19.77, a P/E/G ratio of 2.50 and a beta of 0.72. The stock’s 50 day simple moving average is $77.23 and its 200-day simple moving average is $68.80. 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 (NYSE:ETR) last released its quarterly earnings data on Thursday, October 31st. The utilities provider reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.04. Entergy had a return on equity of 9.53% and a net margin of 14.83%. 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 prior year, the firm posted $1.64 earnings per share. Analysts predict that Entergy Corporation will post 3.59 EPS for the current fiscal year.

Entergy Dividend Announcement

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 $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.96%. Entergy’s dividend payout ratio is presently 58.47%.

Analyst Upgrades and Downgrades

ETR has been the subject of a number of research analyst reports. Morgan Stanley upgraded Entergy from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $58.00 to $75.00 in a research note on Monday, November 4th. KeyCorp lowered Entergy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Mizuho lifted their price objective on Entergy from $69.00 to $82.50 and gave the company an “outperform” rating in a research note on Monday, November 4th. LADENBURG THALM/SH SH upgraded Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price objective for the company in a research note on Thursday. Finally, UBS Group lifted their price objective on Entergy from $72.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Five 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.com, the stock presently has an average 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.