Cigna Investments Inc. New Purchases 2,102 Shares of Entergy Corporation (NYSE:ETR)

Cigna Investments Inc. New raised its holdings in Entergy Corporation (NYSE:ETR) by 95.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,304 shares of the utilities provider’s stock after acquiring an additional 2,102 shares during the period. Cigna Investments Inc. New’s holdings in Entergy were worth $327,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ETR. Legacy Investment Solutions LLC bought a new position in shares of Entergy in the 3rd quarter worth $27,000. Cetera Trust Company N.A bought a new stake in shares of Entergy during the 3rd quarter worth $29,000. Fortitude Family Office LLC grew its position in Entergy by 423.8% in the third quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 178 shares in the last quarter. IFS Advisors LLC bought a new position in Entergy in the fourth quarter valued at $30,000. Finally, Ulland Investment Advisors LLC raised 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 valued at $30,000 after purchasing an additional 200 shares in the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Morgan Stanley upgraded Entergy from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $58.00 to $75.00 in a report on Monday, November 4th. Barclays upped their target price on Entergy from $68.50 to $76.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Wells Fargo & Company lifted their price target on shares of Entergy from $68.50 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. KeyCorp lowered shares of Entergy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Finally, UBS Group increased their target price on shares of Entergy from $72.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Five equities research 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $79.81.

Insider Transactions at Entergy

In related news, insider Deanna D. Rodriguez sold 6,088 shares of the company’s stock in a transaction on Friday, December 13th. The stock was 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 owns 3,952 shares in the company, valued at approximately $292,210.88. This represents a 60.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.39% of the company’s stock.

Entergy Trading Up 0.3 %

Shares of NYSE ETR opened at $82.02 on Wednesday. The firm’s 50 day moving average price is $77.78 and its 200-day moving average price is $70.03. Entergy Corporation has a 52-week low of $48.08 and a 52-week high of $84.26. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.59 and a current ratio of 0.89. The company has a market cap of $35.17 billion, a PE ratio of 19.98, a P/E/G ratio of 2.53 and a beta of 0.72.

Entergy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Monday, February 10th. Entergy’s payout ratio is presently 58.47%.

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.