Navellier & Associates Inc. Makes New Investment in Entergy Corporation (NYSE:ETR)

Navellier & Associates Inc. acquired a new position in shares of Entergy Corporation (NYSE:ETR) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,726 shares of the utilities provider’s stock, valued at approximately $283,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new stake in Entergy during the third quarter valued at about $27,000. Fortitude Family Office LLC increased its position in shares of Entergy by 423.8% during 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 period. Coastline Trust Co bought a new position in shares of Entergy in the third quarter worth approximately $31,000. Ashton Thomas Securities LLC bought a new position in shares of Entergy in the third quarter worth approximately $42,000. Finally, Fortis Group Advisors LLC increased its position in shares of Entergy by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 172 shares during the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Entergy Stock Performance

Shares of ETR stock opened at $84.94 on Monday. The stock has a fifty day moving average of $79.45 and a 200 day moving average of $71.67. Entergy Corporation has a 52 week low of $49.80 and a 52 week high of $88.38. The firm has a market capitalization of $36.56 billion, a price-to-earnings ratio of 34.88, a PEG ratio of 2.34 and a beta of 0.72. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 1.81.

Entergy (NYSE:ETR) last announced its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. Entergy had a return on equity of 10.68% and a net margin of 8.90%. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $3.24 billion. During the same quarter last year, the firm posted $0.26 earnings per share. As a group, research analysts expect that Entergy Corporation will post 3.88 earnings per share for the current year.

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. The ex-dividend date of this dividend is Monday, February 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.83%. Entergy’s dividend payout ratio (DPR) is 98.56%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. BMO Capital Markets upped their target price on Entergy from $79.00 to $94.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Mizuho upped their target price on Entergy from $69.00 to $82.50 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Barclays upped their target price on Entergy from $68.50 to $76.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Evercore ISI upped their target price on Entergy from $75.00 to $86.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company upped their target price on Entergy from $85.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Entergy has an average rating of “Moderate Buy” and a consensus target price of $82.14.

Insiders Place Their Bets

In other Entergy 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 value of $450,146.72. Following the completion of the transaction, the insider now owns 3,952 shares in the company, valued at approximately $292,210.88. This represents a 60.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.39% of the stock is owned by corporate insiders.

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.