Entergy Corporation (NYSE:ETR) Shares Bought by Hartford Investment Management Co.

Hartford Investment Management Co. grew its position in Entergy Corporation (NYSE:ETR) by 96.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,561 shares of the utilities provider’s stock after buying an additional 13,024 shares during the period. Hartford Investment Management Co.’s holdings in Entergy were worth $2,014,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ETR. State Street Corp grew its position 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 lifted its stake 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 during the last quarter. Franklin Resources Inc. grew its holdings in shares of 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 purchasing an additional 1,981,611 shares during the period. Geode Capital Management LLC increased its position in shares of Entergy by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 4,965,257 shares of the utilities provider’s stock worth $651,206,000 after purchasing an additional 37,279 shares during the last quarter. Finally, 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 worth $472,444,000 after purchasing an additional 1,354,355 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Mizuho increased their target price on shares of Entergy from $69.00 to $82.50 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Bank of America cut shares of Entergy from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $69.00 to $77.00 in a research report on Monday, November 4th. StockNews.com raised Entergy from a “sell” rating to a “hold” rating in a research report on Sunday, December 29th. Wells Fargo & Company upped their price target on Entergy from $68.50 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, BMO Capital Markets dropped their price objective on Entergy from $83.00 to $79.50 and set an “outperform” rating for the company in a research note on Monday, November 18th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Entergy has an average rating of “Moderate Buy” and a consensus target price of $79.81.

Entergy Price Performance

Shares of NYSE ETR opened at $83.30 on Friday. 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 company has a market cap of $35.72 billion, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 2.53 and a beta of 0.72. The stock’s 50-day moving average is $78.05 and its two-hundred day moving average is $70.29. Entergy Corporation has a 1-year low of $48.81 and a 1-year high of $84.26.

Entergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 10th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.88%. Entergy’s payout ratio is 58.47%.

Insider Activity at Entergy

In other news, insider Deanna D. Rodriguez sold 6,088 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were 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 in the company, valued at approximately $292,210.88. This trade represents a 60.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.39% of the stock is 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.