Alliance Wealth Advisors LLC UT Raises Stock Position in Entergy Corporation (NYSE:ETR)

Alliance Wealth Advisors LLC UT boosted its stake in Entergy Corporation (NYSE:ETR) by 100.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,114 shares of the utilities provider’s stock after purchasing an additional 2,564 shares during the period. Alliance Wealth Advisors LLC UT’s holdings in Entergy were worth $388,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ETR. Franklin Resources Inc. grew its holdings in shares of Entergy by 53.0% in the third 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 during the period. Jennison Associates LLC grew its stake in shares of Entergy by 139.5% during the 4th quarter. Jennison Associates LLC now owns 2,423,556 shares of the utilities provider’s stock valued at $183,754,000 after purchasing an additional 1,411,473 shares during the period. JPMorgan Chase & Co. increased its position in shares of Entergy by 60.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,589,727 shares of the utilities provider’s stock valued at $472,444,000 after purchasing an additional 1,354,355 shares during the last quarter. Confluence Investment Management LLC increased its position in shares of Entergy by 96.0% during 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 holdings in shares of Entergy by 1,490.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 687,874 shares of the utilities provider’s stock worth $52,155,000 after buying an additional 644,622 shares during the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Entergy Trading Down 0.5 %

Entergy stock opened at $81.66 on Wednesday. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.89 and a quick ratio of 0.59. The firm’s 50 day moving average price is $77.34 and its 200-day moving average price is $69.08. Entergy Corporation has a 1 year low of $48.08 and a 1 year high of $84.26. The stock has a market cap of $35.02 billion, a P/E ratio of 19.89, a PEG ratio of 2.50 and a beta of 0.72.

Entergy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 10th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.94%. The ex-dividend date is Monday, February 10th. Entergy’s payout ratio is currently 58.47%.

Insider Buying and Selling at Entergy

In other Entergy news, insider Haley Fisackerly sold 8,268 shares of Entergy stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $74.52, for a total value of $616,090.02. Following the completion of the transaction, the insider now directly owns 4,032 shares of the company’s stock, valued at $300,444.48. This trade represents a 67.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Deanna D. Rodriguez sold 6,088 shares of the company’s stock in a transaction dated 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 owns 3,952 shares in the company, valued at $292,210.88. This represents a 60.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

ETR has been the subject of a number of research reports. Royal Bank of Canada upped their target price on shares of Entergy from $68.50 to $70.00 and gave the company an “outperform” rating in a report on Monday, October 14th. LADENBURG THALM/SH SH raised 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. Barclays lifted their target price on Entergy from $68.50 to $76.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Mizuho upped their price target on Entergy from $69.00 to $82.50 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Finally, Guggenheim lifted 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. Five 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.