Stonebridge Financial Group LLC Takes Position in Entergy Corporation (NYSE:ETR)

Stonebridge Financial Group LLC bought a new position in shares of Entergy Corporation (NYSE:ETR) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 620 shares of the utilities provider’s stock, valued at approximately $47,000.

Several other hedge funds also recently added to or reduced their stakes in the business. State Street Corp boosted its holdings 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 in the last quarter. FMR LLC raised its position 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. boosted its stake in Entergy by 53.0% in 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 in the last quarter. Geode Capital Management LLC grew its position in 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 stake in 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 in the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

Entergy Trading Up 0.6 %

Shares of Entergy stock opened at $83.30 on Friday. The company has a market cap of $35.72 billion, a P/E ratio of 20.29, a price-to-earnings-growth ratio of 2.53 and a beta of 0.72. The firm has a 50-day simple moving average of $78.05 and a two-hundred day simple moving average of $70.29. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.59 and a current ratio of 0.89. Entergy Corporation has a fifty-two week low of $48.81 and a fifty-two week high of $84.26.

Entergy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders 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 dividend payout ratio is currently 58.47%.

Analyst Ratings Changes

ETR has been the subject of several research reports. Barclays lifted their price objective on shares of Entergy from $68.50 to $76.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. LADENBURG THALM/SH SH raised Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price target for the company in a research report on Thursday, January 30th. Mizuho increased their price objective on Entergy from $69.00 to $82.50 and gave the company an “outperform” rating in a report on Monday, November 4th. Wells Fargo & Company lifted their target price on Entergy from $68.50 to $85.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Scotiabank cut their price target on shares of Entergy from $165.00 to $82.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Entergy has an average rating of “Moderate Buy” and a consensus price target of $79.81.

Insider Buying and Selling

In other Entergy news, insider Deanna D. Rodriguez sold 6,088 shares of Entergy 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 owns 3,952 shares of the company’s stock, valued at $292,210.88. The trade was a 60.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.39% of the company’s stock.

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.