Bleakley Financial Group LLC Boosts Stake in Entergy Corporation (NYSE:ETR)

Bleakley Financial Group LLC boosted its holdings in shares of Entergy Corporation (NYSE:ETR) by 114.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,951 shares of the utilities provider’s stock after acquiring an additional 12,254 shares during the period. Bleakley Financial Group LLC’s holdings in Entergy were worth $1,740,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ETR. Centennial Wealth Advisory LLC increased its holdings in shares of Entergy by 98.7% in the fourth quarter. Centennial Wealth Advisory LLC now owns 7,845 shares of the utilities provider’s stock valued at $595,000 after purchasing an additional 3,896 shares during the last quarter. Robertson Stephens Wealth Management LLC grew its holdings in Entergy by 98.2% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 4,440 shares of the utilities provider’s stock valued at $337,000 after buying an additional 2,200 shares in the last quarter. Inman Jager Wealth Management LLC acquired a new position in shares of Entergy during the 4th quarter valued at about $1,147,000. Crewe Advisors LLC grew its holdings in shares of Entergy by 99.4% in the fourth quarter. Crewe Advisors LLC now owns 1,400 shares of the utilities provider’s stock valued at $106,000 after purchasing an additional 698 shares during the period. Finally, LCM Capital Management Inc grew its holdings in shares of Entergy by 100.0% in the fourth quarter. LCM Capital Management Inc now owns 4,148 shares of the utilities provider’s stock valued at $314,000 after purchasing an additional 2,074 shares during the period. Institutional investors and hedge funds own 88.07% of the company’s stock.

Insider Buying and Selling

In related news, insider Deanna D. Rodriguez sold 6,088 shares of the company’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 value of $450,146.72. Following the completion of the transaction, the insider now directly owns 3,952 shares of the company’s stock, valued at $292,210.88. This represents a 60.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Haley Fisackerly sold 8,268 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was 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 in the company, valued at approximately $300,444.48. The trade was a 67.22 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by insiders.

Entergy Stock Down 0.5 %

Shares of NYSE ETR opened at $82.37 on Friday. Entergy Corporation has a 12-month low of $48.08 and a 12-month high of $84.26. The stock has a market cap of $35.32 billion, a P/E ratio of 20.07, a PEG ratio of 2.50 and a beta of 0.72. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 1.77. The business’s fifty day simple moving average is $77.59 and its 200-day simple moving average is $69.46.

Entergy Announces Dividend

The company also recently announced 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. The ex-dividend date is Monday, February 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.91%. Entergy’s payout ratio is 58.47%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ETR shares. LADENBURG THALM/SH SH upgraded shares of Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price target for the company in a report on Thursday, January 30th. Morgan Stanley raised Entergy from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $58.00 to $75.00 in a research note on Monday, November 4th. Scotiabank decreased their price target on Entergy from $165.00 to $82.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 7th. StockNews.com upgraded Entergy from a “sell” rating to a “hold” rating in a report on Sunday, December 29th. Finally, KeyCorp lowered shares of Entergy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Entergy presently has an average rating of “Moderate Buy” and a consensus target price 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.