Norden Group LLC Grows Stock Holdings in Entergy Corporation (NYSE:ETR)

Norden Group LLC grew its holdings in Entergy Corporation (NYSE:ETR) by 96.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,779 shares of the utilities provider’s stock after purchasing an additional 10,696 shares during the quarter. Norden Group LLC’s holdings in Entergy were worth $1,651,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ETR. abrdn plc increased its stake in shares of Entergy by 1.9% during the 3rd quarter. abrdn plc now owns 107,966 shares of the utilities provider’s stock worth $14,200,000 after purchasing an additional 1,984 shares in the last quarter. SteelPeak Wealth LLC purchased a new position in shares of Entergy during the 3rd quarter worth approximately $219,000. JFS Wealth Advisors LLC increased its stake in shares of Entergy by 251.4% during the 3rd quarter. JFS Wealth Advisors LLC now owns 520 shares of the utilities provider’s stock worth $68,000 after purchasing an additional 372 shares in the last quarter. Financial Advocates Investment Management increased its stake in shares of Entergy by 4.5% during the 3rd quarter. Financial Advocates Investment Management now owns 2,206 shares of the utilities provider’s stock worth $290,000 after purchasing an additional 95 shares in the last quarter. Finally, US Bancorp DE increased its stake in shares of Entergy by 16.3% during the 3rd quarter. US Bancorp DE now owns 28,782 shares of the utilities provider’s stock worth $3,788,000 after purchasing an additional 4,030 shares in the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Deanna D. Rodriguez sold 6,088 shares of the firm’s stock in a transaction on 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 owns 3,952 shares of the company’s stock, valued at approximately $292,210.88. This trade represents a 60.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. KeyCorp cut shares of Entergy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. UBS Group raised their target price on shares of Entergy from $72.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. LADENBURG THALM/SH SH upgraded shares of Entergy from a “neutral” rating to a “buy” rating and set a $86.50 target price on the stock in a research report on Thursday, January 30th. BMO Capital Markets raised their target price on shares of Entergy from $79.00 to $94.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, Mizuho raised their target price 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. Six equities 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.14.

Entergy Stock Up 2.4 %

Shares of ETR opened at $87.29 on Friday. The firm has a market cap of $37.57 billion, a PE ratio of 35.85, a price-to-earnings-growth ratio of 2.34 and a beta of 0.72. The company’s fifty day moving average is $80.59 and its two-hundred day moving average is $72.53. Entergy Corporation has a fifty-two week low of $49.80 and a fifty-two week high of $88.38. 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 issued its earnings results on Tuesday, February 18th. The utilities provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. Entergy had a net margin of 8.90% and a return on equity of 10.68%. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter last year, the firm posted $0.26 EPS. Analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders 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 dividend yield of 2.75%. The ex-dividend date of this dividend is Monday, February 10th. Entergy’s dividend payout ratio is presently 98.77%.

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.