Amalgamated Bank Purchases 43,703 Shares of Entergy Corporation (NYSE:ETR)

Amalgamated Bank grew its position in Entergy Corporation (NYSE:ETR) by 104.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,651 shares of the utilities provider’s stock after acquiring an additional 43,703 shares during the period. Amalgamated Bank’s holdings in Entergy were worth $6,494,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Fortis Group Advisors LLC raised its position in Entergy by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 172 shares during the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of Entergy in the third quarter valued at $27,000. Fortitude Family Office LLC raised its holdings in shares of Entergy by 423.8% in the third quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock valued at $29,000 after buying an additional 178 shares during the last quarter. IFS Advisors LLC bought a new position in shares of Entergy in the fourth quarter valued at about $30,000. Finally, Ulland Investment Advisors LLC lifted its position in Entergy by 100.0% during the 4th quarter. Ulland Investment Advisors LLC now owns 400 shares of the utilities provider’s stock worth $30,000 after buying an additional 200 shares in the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Deanna D. Rodriguez sold 6,088 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $73.94, for a total value of $450,146.72. Following 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 Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

ETR has been the subject of a number of research analyst reports. StockNews.com raised shares of Entergy from a “sell” rating to a “hold” rating in a research note on Sunday, December 29th. Mizuho boosted 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. UBS Group increased their price objective on Entergy from $72.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Guggenheim lifted their target price on Entergy from $72.50 to $82.50 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, BMO Capital Markets upped their price target on Entergy from $79.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Six investment 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 company’s stock. According to data from MarketBeat.com, Entergy has an average rating of “Moderate Buy” and an average price target of $82.14.

Entergy Price Performance

NYSE:ETR opened at $86.09 on Thursday. The stock has a market capitalization of $37.05 billion, a PE ratio of 35.36, a P/E/G ratio of 2.34 and a beta of 0.72. Entergy Corporation has a 1-year low of $49.80 and a 1-year high of $88.38. The firm has a fifty day simple moving average of $80.13 and a 200 day simple moving average of $72.15. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 1.81.

Entergy (NYSE:ETR) last released its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.03. Entergy had a net margin of 8.90% and a return on equity of 10.68%. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same period in the previous year, the business earned $0.26 EPS. On average, research analysts expect that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 10th will be paid a $0.60 dividend. The ex-dividend date is Monday, February 10th. This represents a $2.40 annualized dividend and a yield of 2.79%. Entergy’s dividend payout ratio is 98.77%.

About Entergy

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.