AlphaStar Capital Management LLC Purchases 4,696 Shares of Entergy Corporation (NYSE:ETR)

AlphaStar Capital Management LLC increased its holdings in Entergy Corporation (NYSE:ETR) by 184.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,242 shares of the utilities provider’s stock after purchasing an additional 4,696 shares during the period. AlphaStar Capital Management LLC’s holdings in Entergy were worth $549,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Barclays lifted their price objective on shares of Entergy from $68.50 to $76.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. LADENBURG THALM/SH SH upgraded Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price objective on the stock in a report on Thursday, January 30th. BMO Capital Markets lowered their price objective 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 boosted their price target on shares of Entergy from $68.50 to $85.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, Guggenheim boosted their price objective on shares of Entergy from $72.50 to $82.50 and gave the stock a “buy” rating in a research note on Friday, November 1st. Five 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.81.

Entergy Stock Down 0.5 %

Shares of ETR opened at $82.37 on Friday. Entergy Corporation has a 52 week low of $48.08 and a 52 week high of $84.26. The company has a market capitalization of $35.32 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 2.53 and a beta of 0.72. The stock’s 50-day moving average price is $77.68 and its 200-day moving average price is $69.64. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 1.77.

Entergy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 10th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date is Monday, February 10th. Entergy’s dividend payout ratio (DPR) is presently 58.47%.

Insiders Place Their Bets

In other news, insider Deanna D. Rodriguez sold 6,088 shares of Entergy stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $73.94, for a total value of $450,146.72. Following the sale, the insider now directly owns 3,952 shares of the company’s stock, valued at $292,210.88. The trade was a 60.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Haley Fisackerly sold 8,268 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $74.52, for a total transaction of $616,090.02. Following the transaction, the insider now owns 4,032 shares in the company, valued at $300,444.48. The trade was a 67.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.39% of the company’s stock.

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.