Convergence Investment Partners LLC Makes New $1.11 Million Investment in Entergy Corporation (NYSE:ETR)

Convergence Investment Partners LLC bought a new position in shares of Entergy Corporation (NYSE:ETR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 14,612 shares of the utilities provider’s stock, valued at approximately $1,108,000.

Other hedge funds also recently made changes to their positions in the company. OneDigital Investment Advisors LLC grew its position in Entergy by 2.1% during the third quarter. OneDigital Investment Advisors LLC now owns 3,427 shares of the utilities provider’s stock worth $451,000 after buying an additional 69 shares in the last quarter. Acropolis Investment Management LLC grew its holdings in shares of Entergy by 0.8% during the 3rd quarter. Acropolis Investment Management LLC now owns 8,836 shares of the utilities provider’s stock worth $1,163,000 after purchasing an additional 69 shares in the last quarter. Great Valley Advisor Group Inc. increased its position in shares of Entergy by 0.9% in the third quarter. Great Valley Advisor Group Inc. now owns 8,087 shares of the utilities provider’s stock worth $1,065,000 after purchasing an additional 74 shares during the period. Prossimo Advisors LLC raised its stake in Entergy by 1.5% in the third quarter. Prossimo Advisors LLC now owns 5,971 shares of the utilities provider’s stock valued at $786,000 after purchasing an additional 90 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its position in Entergy by 1.3% during the third quarter. Brown Brothers Harriman & Co. now owns 7,233 shares of the utilities provider’s stock worth $952,000 after purchasing an additional 91 shares during the period. 88.07% of the stock is owned by institutional investors.

Entergy Trading Down 0.1 %

Shares of NYSE ETR opened at $87.31 on Thursday. The stock has a market cap of $37.44 billion, a P/E ratio of 21.27, a price-to-earnings-growth ratio of 2.52 and a beta of 0.72. The firm has a 50 day moving average price of $78.74 and a two-hundred day moving average price of $71.08. 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 52-week low of $49.80 and a 52-week high of $88.38.

Entergy (NYSE:ETR) last announced its earnings results on Tuesday, February 18th. The utilities provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.63 by $0.03. Entergy had a return on equity of 9.53% and a net margin of 14.83%. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same period in the previous year, the business earned $0.26 EPS. As a group, equities analysts forecast that Entergy Corporation will post 3.63 EPS for the current year.

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 issued a $0.60 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $2.40 annualized dividend and a yield of 2.75%. Entergy’s payout ratio is 58.47%.

Insider Buying and Selling at Entergy

In other Entergy 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 completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

ETR has been the subject of several analyst reports. Wells Fargo & Company boosted their target price on shares of Entergy from $85.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday. StockNews.com upgraded Entergy from a “sell” rating to a “hold” rating in a research note on Sunday, December 29th. Scotiabank decreased their price target on Entergy from $165.00 to $82.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 7th. Bank of America downgraded Entergy from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $69.00 to $77.00 in a research report on Monday, November 4th. Finally, Guggenheim lifted their target price on Entergy from $72.50 to $82.50 and gave the company a “buy” rating in a research report on Friday, November 1st. Six investment 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’s stock. According to data from MarketBeat.com, Entergy presently has an average rating of “Moderate Buy” and a consensus price target of $82.14.

Entergy 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.