CENTRAL TRUST Co Grows Stock Position in Entergy Corporation (NYSE:ETR)

CENTRAL TRUST Co increased its holdings in shares of Entergy Corporation (NYSE:ETR) by 99.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,238 shares of the utilities provider’s stock after purchasing an additional 2,618 shares during the quarter. CENTRAL TRUST Co’s holdings in Entergy were worth $397,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ETR. Legacy Investment Solutions LLC purchased a new position in Entergy during the third quarter worth about $27,000. Cetera Trust Company N.A purchased a new position in Entergy during the third quarter worth about $29,000. Fortitude Family Office LLC lifted its position in Entergy by 423.8% during the third quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock worth $29,000 after buying an additional 178 shares during the period. IFS Advisors LLC purchased a new position in Entergy during the fourth quarter worth about $30,000. Finally, Ulland Investment Advisors LLC lifted its position in Entergy by 100.0% during the fourth quarter. Ulland Investment Advisors LLC now owns 400 shares of the utilities provider’s stock worth $30,000 after buying an additional 200 shares during the period. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ETR has been the topic of a number of research reports. Morgan Stanley upgraded Entergy from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $58.00 to $75.00 in a report on Monday, November 4th. StockNews.com upgraded Entergy from a “sell” rating to a “hold” rating in a report on Sunday, December 29th. Guggenheim raised their price objective on Entergy from $72.50 to $82.50 and gave the stock a “buy” rating in a report on Friday, November 1st. BMO Capital Markets cut their price objective on Entergy from $83.00 to $79.50 and set an “outperform” rating on the stock in a report on Monday, November 18th. Finally, Bank of America downgraded Entergy from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $69.00 to $77.00 in a report on Monday, November 4th. Five 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.81.

Entergy Price Performance

Shares of NYSE ETR opened at $81.66 on Wednesday. Entergy Corporation has a fifty-two week low of $48.08 and a fifty-two week high of $84.26. The business has a 50 day moving average price of $77.34 and a two-hundred day moving average price of $69.08. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 1.77. The firm has a market cap of $35.02 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 2.50 and a beta of 0.72.

Entergy Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Monday, February 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.94%. Entergy’s dividend payout ratio (DPR) is presently 58.47%.

Insider Buying and Selling at Entergy

In other news, insider Haley Fisackerly sold 8,268 shares of Entergy 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 completion of the transaction, the insider now owns 4,032 shares in the company, valued at approximately $300,444.48. This trade represents a 67.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Deanna D. Rodriguez sold 6,088 shares of Entergy 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 completion of the transaction, the insider now owns 3,952 shares of the company’s stock, valued at approximately $292,210.88. The trade was a 60.64 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by insiders.

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.