Strategic Financial Concepts LLC Purchases New Position in Entergy Corporation (NYSE:ETR)

Strategic Financial Concepts LLC acquired a new position in shares of Entergy Corporation (NYSE:ETR) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 57,935 shares of the utilities provider’s stock, valued at approximately $4,393,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ETR. Legacy Investment Solutions LLC bought a new stake in Entergy during the third quarter worth $27,000. Fortitude Family Office LLC grew its stake in shares of Entergy by 423.8% in the 3rd 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. Cetera Trust Company N.A purchased a new stake in shares of Entergy in the third quarter valued at about $29,000. Coastline Trust Co bought a new position in shares of Entergy during the third quarter valued at about $31,000. Finally, Ashton Thomas Securities LLC purchased a new position in Entergy during the third quarter worth about $42,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

Entergy Stock Performance

Shares of ETR stock opened at $82.64 on Monday. The firm’s 50 day moving average is $78.32 and its 200 day moving average is $70.65. The stock has a market capitalization of $35.44 billion, a P/E ratio of 20.13, a PEG ratio of 2.53 and a beta of 0.72. Entergy Corporation has a 12 month low of $48.93 and a 12 month high of $84.46. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 1.77.

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 $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Monday, February 10th. Entergy’s payout ratio is currently 58.47%.

Insider Activity

In other news, insider Deanna D. Rodriguez sold 6,088 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were 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 directly owns 3,952 shares in the company, valued at approximately $292,210.88. This trade 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. 0.39% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ETR has been the subject of several analyst reports. Guggenheim increased their price objective on shares of Entergy from $72.50 to $82.50 and gave the company a “buy” rating in a research note on Friday, November 1st. Bank of America downgraded Entergy from a “buy” rating to a “neutral” rating and increased their price target for the company from $69.00 to $77.00 in a research report on Monday, November 4th. Morgan Stanley raised Entergy from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $58.00 to $75.00 in a research report on Monday, November 4th. UBS Group raised their target price on Entergy from $72.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Finally, Mizuho boosted their price target on shares of Entergy from $69.00 to $82.50 and gave the stock an “outperform” rating in a report on Monday, November 4th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.