LMG Wealth Partners LLC Acquires 8,855 Shares of Entergy Corporation (NYSE:ETR)

LMG Wealth Partners LLC raised its position in shares of Entergy Corporation (NYSE:ETR) by 100.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,710 shares of the utilities provider’s stock after purchasing an additional 8,855 shares during the period. LMG Wealth Partners LLC’s holdings in Entergy were worth $1,343,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Franklin Resources Inc. increased its position in shares of Entergy by 53.0% during the 3rd quarter. Franklin Resources Inc. now owns 5,718,859 shares of the utilities provider’s stock valued at $754,318,000 after purchasing an additional 1,981,611 shares during the last quarter. Jennison Associates LLC grew its position in shares of Entergy by 139.5% during the 4th quarter. Jennison Associates LLC now owns 2,423,556 shares of the utilities provider’s stock valued at $183,754,000 after acquiring an additional 1,411,473 shares during the period. JPMorgan Chase & Co. raised its holdings in Entergy by 60.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,589,727 shares of the utilities provider’s stock worth $472,444,000 after purchasing an additional 1,354,355 shares during the period. Truist Financial Corp grew its holdings in Entergy by 105.0% during the fourth quarter. Truist Financial Corp now owns 2,072,950 shares of the utilities provider’s stock valued at $157,171,000 after purchasing an additional 1,061,527 shares during the period. Finally, Confluence Investment Management LLC raised its stake in Entergy by 96.0% during the 4th quarter. Confluence Investment Management LLC now owns 1,607,273 shares of the utilities provider’s stock worth $121,863,000 after acquiring an additional 787,367 shares during the period. 88.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Deanna D. Rodriguez sold 6,088 shares of Entergy stock in a transaction dated 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. The trade was a 60.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Entergy Stock Performance

Shares of ETR opened at $87.31 on Thursday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.59 and a current ratio of 0.89. The stock has a market capitalization of $37.44 billion, a P/E ratio of 21.27, a P/E/G ratio of 2.52 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 company’s fifty day moving average is $78.74 and its two-hundred day moving average is $71.08.

Entergy (NYSE:ETR) last announced its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.63 by $0.03. Entergy had a return on equity of 9.53% and a net margin of 14.83%. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same quarter in the previous year, the company earned $0.26 EPS. On average, sell-side analysts predict that Entergy Corporation will post 3.63 earnings per share for the current year.

Entergy Announces Dividend

The firm also recently declared 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. This represents a $2.40 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Monday, February 10th. Entergy’s payout ratio is 58.47%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ETR shares. Guggenheim increased their target price on Entergy from $72.50 to $82.50 and gave the stock a “buy” rating in a research report on Friday, November 1st. 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 note on Thursday, January 30th. Barclays upped their target price on shares of Entergy from $68.50 to $76.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Wells Fargo & Company raised their price target on Entergy from $85.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Evercore ISI upped their target price on Entergy from $75.00 to $86.00 and gave the stock an “in-line” rating in a report on Wednesday. Six research 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 stock. Based on data from MarketBeat.com, Entergy has a consensus rating of “Moderate Buy” and an average price target of $82.14.

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.