YANKCOM Partnership Acquires New Position in Entergy Corporation (NYSE:ETR)

YANKCOM Partnership acquired a new stake in Entergy Corporation (NYSE:ETR) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 534 shares of the utilities provider’s stock, valued at approximately $40,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new stake in Entergy in the third quarter valued at about $27,000. Fortitude Family Office LLC lifted its position in shares of Entergy by 423.8% during the 3rd quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 178 shares during the period. Cetera Trust Company N.A acquired a new stake in shares of Entergy during the 3rd quarter valued at approximately $29,000. Coastline Trust Co acquired a new stake in shares of Entergy during the 3rd quarter valued at approximately $31,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Entergy during the 3rd quarter valued at approximately $42,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

Insiders Place Their Bets

In other news, insider Deanna D. Rodriguez sold 6,088 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $73.94, for a total transaction of $450,146.72. Following the completion of the sale, the insider now directly owns 3,952 shares of the company’s stock, valued at $292,210.88. The trade was a 60.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Haley Fisackerly sold 8,268 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $74.52, for a total transaction of $616,090.02. Following the sale, the insider now directly owns 4,032 shares of the company’s stock, valued at $300,444.48. This represents a 67.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.39% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ETR has been the subject of a number of research reports. Barclays lifted their price target on shares of Entergy from $68.50 to $76.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. StockNews.com upgraded shares of Entergy from a “sell” rating to a “hold” rating in a research report on Sunday, December 29th. BMO Capital Markets reduced their price target on shares of Entergy from $83.00 to $79.50 and set an “outperform” rating for the company in a research report on Monday, November 18th. Morgan Stanley upgraded shares of Entergy from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $58.00 to $75.00 in a research report on Monday, November 4th. Finally, Scotiabank dropped their price objective on shares of Entergy from $165.00 to $82.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 7th. Five investment 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.81.

Entergy Stock Up 0.4 %

ETR stock opened at $82.81 on Friday. The stock has a market capitalization of $35.51 billion, a P/E ratio of 20.17, a PEG ratio of 2.50 and a beta of 0.72. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.59 and a current ratio of 0.89. Entergy Corporation has a one year low of $48.08 and a one year high of $84.26. The company has a 50 day moving average price of $77.50 and a two-hundred day moving average price of $69.36.

Entergy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 10th will be paid a $0.60 dividend. The ex-dividend date is Monday, February 10th. This represents a $2.40 annualized dividend and a yield of 2.90%. Entergy’s payout ratio is currently 58.39%.

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.