Newbridge Financial Services Group Inc. Boosts Position in Entergy Corporation (NYSE:ETR)

Newbridge Financial Services Group Inc. raised its stake in Entergy Corporation (NYSE:ETR) by 185.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 786 shares of the utilities provider’s stock after purchasing an additional 511 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Entergy were worth $60,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Franklin Resources Inc. raised its stake in Entergy by 53.0% during the 3rd quarter. Franklin Resources Inc. now owns 5,718,859 shares of the utilities provider’s stock worth $754,318,000 after acquiring an additional 1,981,611 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Entergy by 139.5% during the fourth quarter. Jennison Associates LLC now owns 2,423,556 shares of the utilities provider’s stock worth $183,754,000 after purchasing an additional 1,411,473 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Entergy by 60.6% during the third 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 in the last quarter. Confluence Investment Management LLC lifted its holdings in shares of Entergy by 96.0% in the 4th quarter. Confluence Investment Management LLC now owns 1,607,273 shares of the utilities provider’s stock valued at $121,863,000 after purchasing an additional 787,367 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Entergy by 1,490.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 687,874 shares of the utilities provider’s stock valued at $52,155,000 after purchasing an additional 644,622 shares during the period. Institutional investors and hedge funds own 88.07% of the company’s stock.

Entergy Price Performance

Shares of NYSE:ETR opened at $81.81 on Tuesday. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 1.77. The company has a 50-day moving average price of $77.68 and a 200 day moving average price of $69.84. Entergy Corporation has a 52 week low of $48.08 and a 52 week high of $84.26. The company has a market cap of $35.08 billion, a P/E ratio of 19.93, a PEG ratio of 2.53 and a beta of 0.72.

Entergy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 10th will be paid a $0.60 dividend. The ex-dividend date is Monday, February 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.93%. Entergy’s dividend payout ratio (DPR) is presently 58.39%.

Insider Buying and Selling

In other Entergy news, insider Deanna D. Rodriguez sold 6,088 shares of the business’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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.39% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on the company. UBS Group lifted their price target on 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 raised shares of Entergy from a “neutral” rating to a “buy” rating and set a $86.50 target price on the stock in a report on Thursday, January 30th. BMO Capital Markets decreased their price target on shares of Entergy from $83.00 to $79.50 and set an “outperform” rating for the company in a research note on Monday, November 18th. Wells Fargo & Company lifted their price objective on shares of Entergy from $68.50 to $85.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Finally, Bank of America downgraded shares of Entergy from a “buy” rating to a “neutral” rating and increased their target price for the stock from $69.00 to $77.00 in a research note on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.81.

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.