Financial Advocates Investment Management Acquires 998 Shares of Entergy Corporation (NYSE:ETR)

Financial Advocates Investment Management raised its holdings in shares of Entergy Corporation (NYSE:ETR) by 45.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,204 shares of the utilities provider’s stock after purchasing an additional 998 shares during the period. Financial Advocates Investment Management’s holdings in Entergy were worth $243,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ETR. Legacy Investment Solutions LLC purchased a new stake in shares of Entergy in the 3rd quarter worth approximately $27,000. Cetera Trust Company N.A bought a new stake in Entergy in the third quarter worth $29,000. Fortitude Family Office LLC grew its stake in shares of Entergy by 423.8% in the third quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 178 shares during the last quarter. IFS Advisors LLC bought a new position in shares of Entergy during the fourth quarter valued at $30,000. Finally, Ulland Investment Advisors LLC raised its position in shares of Entergy by 100.0% in the 4th quarter. Ulland Investment Advisors LLC now owns 400 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 88.07% of the company’s stock.

Insider Activity

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

Entergy Price Performance

Shares of NYSE:ETR opened at $82.37 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 1.77. The stock has a market capitalization of $35.32 billion, a PE ratio of 20.07, a price-to-earnings-growth ratio of 2.53 and a beta of 0.72. The firm’s 50 day moving average price is $77.68 and its 200-day moving average price is $69.74. Entergy Corporation has a twelve month low of $48.08 and a twelve month high of $84.26.

Entergy Announces Dividend

The firm also recently declared 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. This represents a $2.40 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend is Monday, February 10th. Entergy’s dividend payout ratio is presently 58.47%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ETR. Scotiabank cut their price objective on shares of Entergy from $165.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 7th. Barclays increased their price target on shares of Entergy from $68.50 to $76.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. StockNews.com upgraded shares of Entergy from a “sell” rating to a “hold” rating in a report on Sunday, December 29th. Morgan Stanley upgraded Entergy from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $58.00 to $75.00 in a research note on Monday, November 4th. Finally, UBS Group boosted their price target on Entergy from $72.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Entergy currently has an average rating of “Moderate Buy” and a consensus price target of $79.81.

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.