Asset Dedication LLC Purchases 232 Shares of Entergy Corporation (NYSE:ETR)

Asset Dedication LLC grew its position in Entergy Corporation (NYSE:ETR) by 100.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 462 shares of the utilities provider’s stock after buying an additional 232 shares during the quarter. Asset Dedication LLC’s holdings in Entergy were worth $35,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ETR. State Street Corp lifted its stake in Entergy by 1.1% in the third quarter. State Street Corp now owns 11,408,776 shares of the utilities provider’s stock worth $1,501,509,000 after acquiring an additional 128,667 shares during the period. FMR LLC raised its holdings in shares of Entergy by 5.0% in the 3rd quarter. FMR LLC now owns 6,613,647 shares of the utilities provider’s stock valued at $870,422,000 after purchasing an additional 315,750 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Entergy by 53.0% in the 3rd quarter. Franklin Resources Inc. now owns 5,718,859 shares of the utilities provider’s stock worth $754,318,000 after purchasing an additional 1,981,611 shares during the period. Geode Capital Management LLC boosted its stake in shares of Entergy by 0.8% during the third quarter. Geode Capital Management LLC now owns 4,965,257 shares of the utilities provider’s stock valued at $651,206,000 after purchasing an additional 37,279 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Entergy by 60.6% during the third quarter. JPMorgan Chase & Co. now owns 3,589,727 shares of the utilities provider’s stock valued at $472,444,000 after buying an additional 1,354,355 shares during the period. Institutional investors own 88.07% of the company’s stock.

Insider Buying and Selling

In related news, insider Haley Fisackerly sold 8,268 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $74.52, for a total transaction of $616,090.02. Following the completion of the transaction, the insider now owns 4,032 shares of the company’s stock, valued at $300,444.48. This trade represents a 67.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Deanna D. Rodriguez sold 6,088 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $73.94, for a total transaction of $450,146.72. Following the completion of the sale, the insider now directly owns 3,952 shares in the company, valued at approximately $292,210.88. The trade was a 60.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,756 shares of company stock valued at $1,095,637 over the last quarter. 0.39% of the stock is currently owned by company insiders.

Entergy Trading Up 2.5 %

NYSE:ETR opened at $81.20 on Friday. The company has a market capitalization of $34.82 billion, a P/E ratio of 19.78, a PEG ratio of 2.54 and a beta of 0.71. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 1.77. Entergy Corporation has a 12 month low of $48.08 and a 12 month high of $84.26. The firm has a fifty day simple moving average of $77.01 and a 200-day simple moving average of $68.42.

Entergy (NYSE:ETR) last posted its quarterly earnings results on Thursday, October 31st. The utilities provider reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.04. Entergy had a return on equity of 9.53% and a net margin of 14.83%. The business had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter in the previous year, the business earned $1.64 EPS. On average, equities research analysts anticipate that Entergy Corporation will post 3.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ETR has been the subject of a number of analyst reports. Barclays upped their target price on Entergy from $68.50 to $76.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Guggenheim raised their price objective on Entergy from $72.50 to $82.50 and gave the company a “buy” rating in a research report on Friday, November 1st. BMO Capital Markets cut their target price on Entergy from $83.00 to $79.50 and set an “outperform” rating on the stock in a research note on Monday, November 18th. UBS Group lifted their price objective 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. Finally, LADENBURG THALM/SH SH upgraded shares of Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price objective for the company in a research note on Thursday. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Entergy currently has an average rating of “Moderate Buy” and a consensus price target of $79.81.

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.