Jmac Enterprises LLC Raises Stake in Entergy Corporation (NYSE:ETR)

Jmac Enterprises LLC lifted its position in shares of Entergy Corporation (NYSE:ETR) by 81.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,000 shares of the utilities provider’s stock after buying an additional 4,500 shares during the quarter. Jmac Enterprises LLC’s holdings in Entergy were worth $758,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Thrivent Financial for Lutherans lifted its stake in shares of Entergy by 21.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 986,546 shares of the utilities provider’s stock worth $129,840,000 after purchasing an additional 174,093 shares during the period. Empowered Funds LLC lifted its position in Entergy by 40.7% during the third quarter. Empowered Funds LLC now owns 18,597 shares of the utilities provider’s stock worth $2,448,000 after buying an additional 5,381 shares during the period. Principal Financial Group Inc. boosted its stake in Entergy by 4.0% in the 3rd quarter. Principal Financial Group Inc. now owns 280,262 shares of the utilities provider’s stock worth $36,885,000 after buying an additional 10,697 shares during the last quarter. Ausbil Investment Management Ltd grew its holdings in Entergy by 11.4% in the 3rd quarter. Ausbil Investment Management Ltd now owns 97,218 shares of the utilities provider’s stock valued at $12,795,000 after buying an additional 9,986 shares during the period. Finally, Thompson Siegel & Walmsley LLC acquired a new position in shares of Entergy during the 3rd quarter valued at about $32,541,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

Insiders Place Their Bets

In other Entergy news, insider Deanna D. Rodriguez sold 6,088 shares of the firm’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 transaction of $450,146.72. Following the completion of the sale, the insider now owns 3,952 shares in the company, valued at $292,210.88. This trade represents a 60.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.39% of the stock is currently owned by company insiders.

Entergy Stock Up 0.3 %

Shares of NYSE:ETR opened at $82.02 on Wednesday. The company has a 50 day moving average of $77.78 and a two-hundred day moving average of $70.03. Entergy Corporation has a 52-week low of $48.08 and a 52-week high of $84.26. 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 company has a market capitalization of $35.17 billion, a price-to-earnings ratio of 19.98, a price-to-earnings-growth ratio of 2.53 and a beta of 0.72.

Entergy Dividend Announcement

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

Wall Street Analyst Weigh In

ETR has been the topic of several research analyst reports. Bank of America cut shares of Entergy from a “buy” rating to a “neutral” rating and raised their target price for the stock from $69.00 to $77.00 in a research report on Monday, November 4th. BMO Capital Markets decreased their price target on shares of Entergy from $83.00 to $79.50 and set an “outperform” rating on the stock in a report on Monday, November 18th. Guggenheim upped 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. Wells Fargo & Company lifted their target price on Entergy from $68.50 to $85.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, LADENBURG THALM/SH SH raised Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price target for the company in a research report on Thursday, January 30th. Five research 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 stock. According to MarketBeat.com, Entergy has a consensus rating of “Moderate Buy” and an average price target 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.