Banque Pictet & Cie SA Takes $1.01 Million Position in Entergy Corporation (NYSE:ETR)

Banque Pictet & Cie SA acquired a new stake in Entergy Corporation (NYSE:ETR) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 13,304 shares of the utilities provider’s stock, valued at approximately $1,009,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ETR. Legacy Investment Solutions LLC acquired a new stake in shares of Entergy in the third quarter valued at approximately $27,000. Cetera Trust Company N.A acquired a new position in Entergy during the third quarter worth $29,000. Fortitude Family Office LLC increased its holdings in Entergy by 423.8% during the third quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock worth $29,000 after buying an additional 178 shares during the last quarter. IFS Advisors LLC acquired a new position in Entergy during the fourth quarter worth $30,000. Finally, Ulland Investment Advisors LLC increased its holdings in Entergy by 100.0% during the fourth quarter. Ulland Investment Advisors LLC now owns 400 shares of the utilities provider’s stock worth $30,000 after buying an additional 200 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ETR has been the topic of a number of recent analyst reports. Guggenheim boosted their target price on shares of Entergy from $72.50 to $82.50 and gave the stock a “buy” rating in a report on Friday, November 1st. KeyCorp downgraded shares of Entergy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Bank of America downgraded shares of Entergy from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $69.00 to $77.00 in a report on Monday, November 4th. Mizuho lifted their price objective on shares of Entergy from $69.00 to $82.50 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Finally, Barclays increased their price objective 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. Five equities research 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $79.81.

Insider Buying and Selling at Entergy

In other news, insider Deanna D. Rodriguez sold 6,088 shares of the 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 sale, the insider now directly owns 3,952 shares of the company’s stock, valued at approximately $292,210.88. This represents a 60.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.39% of the company’s stock.

Entergy Stock Performance

Shares of NYSE ETR opened at $82.64 on Friday. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.89 and a quick ratio of 0.59. The stock’s fifty day moving average price is $78.18 and its two-hundred day moving average price is $70.38. Entergy Corporation has a one year low of $48.93 and a one year high of $84.46. The firm has a market cap of $35.44 billion, a price-to-earnings ratio of 20.13, a P/E/G ratio of 2.53 and a beta of 0.72.

Entergy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders 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 yield of 2.90%. The ex-dividend date of this dividend is Monday, February 10th. Entergy’s dividend payout ratio is 58.39%.

Entergy 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.