Oppenheimer Asset Management Inc. Increases Stock Position in Entergy Corporation (NYSE:ETR)

Oppenheimer Asset Management Inc. lifted its holdings in shares of Entergy Corporation (NYSE:ETR) by 169.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,010 shares of the utilities provider’s stock after purchasing an additional 5,039 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Entergy were worth $607,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Fortis Group Advisors LLC raised its holdings in Entergy by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 172 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in Entergy during the third quarter worth approximately $27,000. IFS Advisors LLC acquired a new stake in Entergy during the fourth quarter worth approximately $30,000. Ulland Investment Advisors LLC raised its holdings in Entergy by 100.0% during the fourth quarter. Ulland Investment Advisors LLC now owns 400 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 200 shares in the last quarter. Finally, Coastline Trust Co acquired a new stake in Entergy during the third quarter worth approximately $31,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. UBS Group raised their price objective on shares of Entergy from $72.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. BMO Capital Markets raised their price objective on shares of Entergy from $79.00 to $94.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. StockNews.com upgraded shares of Entergy from a “sell” rating to a “hold” rating in a research report on Sunday, December 29th. KeyCorp lowered shares of Entergy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. Finally, Evercore ISI raised their target price on shares of Entergy from $75.00 to $86.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. Six investment 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 company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $82.14.

Entergy Stock Down 0.5 %

Shares of NYSE:ETR opened at $84.69 on Thursday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.59 and a current ratio of 0.72. Entergy Corporation has a 1 year low of $50.19 and a 1 year high of $88.38. The stock has a market capitalization of $36.45 billion, a P/E ratio of 34.78, a PEG ratio of 2.34 and a beta of 0.68. The stock has a 50-day simple moving average of $81.19 and a 200-day simple moving average of $73.10.

Entergy (NYSE:ETR) last issued its earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share (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 business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $3.24 billion. During the same quarter in the previous year, the business earned $0.26 EPS. Equities analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 10th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend was Monday, February 10th. Entergy’s dividend payout ratio is presently 98.77%.

Insider Buying and Selling at Entergy

In related news, insider Deanna D. Rodriguez sold 6,088 shares of the company’s stock in a transaction that occurred on 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. This represents a 60.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.39% of the stock is currently owned by corporate insiders.

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.