Sequent Asset Management LLC Acquires 8,722 Shares of Entergy Corporation (NYSE:ETR)

Sequent Asset Management LLC grew its holdings in shares of Entergy Corporation (NYSE:ETR) by 100.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,444 shares of the utilities provider’s stock after purchasing an additional 8,722 shares during the quarter. Entergy makes up 0.7% of Sequent Asset Management LLC’s investment portfolio, making the stock its 25th largest holding. Sequent Asset Management LLC’s holdings in Entergy were worth $1,323,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Stock Yards Bank & Trust Co. lifted its stake in Entergy by 100.0% in the fourth quarter. Stock Yards Bank & Trust Co. now owns 5,776 shares of the utilities provider’s stock valued at $438,000 after purchasing an additional 2,888 shares during the last quarter. CENTRAL TRUST Co raised its stake in shares of Entergy by 99.9% in the fourth quarter. CENTRAL TRUST Co now owns 5,238 shares of the utilities provider’s stock valued at $397,000 after buying an additional 2,618 shares during the period. Greenleaf Trust lifted its position in shares of Entergy by 110.1% during the 4th quarter. Greenleaf Trust now owns 9,992 shares of the utilities provider’s stock valued at $758,000 after buying an additional 5,236 shares during the last quarter. Avantra Family Wealth Inc. bought a new position in shares of Entergy during the 4th quarter worth $290,000. Finally, Spire Wealth Management increased its holdings in Entergy by 146.0% in the 4th quarter. Spire Wealth Management now owns 1,422 shares of the utilities provider’s stock worth $108,000 after acquiring an additional 844 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors.

Entergy Price Performance

Shares of Entergy stock opened at $81.17 on Monday. Entergy Corporation has a 12 month low of $48.08 and a 12 month high of $84.26. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 1.77. The business’s 50-day moving average price is $77.23 and its 200-day moving average price is $68.80. The firm has a market capitalization of $34.81 billion, a PE ratio of 19.77, a price-to-earnings-growth ratio of 2.50 and a beta of 0.72.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Thursday, October 31st. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.04. The company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.46 billion. Entergy had a net margin of 14.83% and a return on equity of 9.53%. During the same quarter in the prior year, the company earned $1.64 EPS. Sell-side analysts forecast that Entergy Corporation will post 3.59 EPS for the current fiscal year.

Entergy Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.96%. Entergy’s dividend payout ratio (DPR) is currently 58.47%.

Insider Transactions at Entergy

In other news, insider Haley Fisackerly sold 8,268 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $74.52, for a total value of $616,090.02. Following the transaction, the insider now owns 4,032 shares in the company, valued at approximately $300,444.48. This trade represents a 67.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eliecer Viamontes sold 400 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $73.50, for a total transaction of $29,400.00. Following the sale, the insider now owns 8,346 shares of the company’s stock, valued at $613,431. This represents a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,756 shares of company stock worth $1,095,637. Company insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ETR shares. 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 research report on Friday, November 1st. KeyCorp cut Entergy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. StockNews.com raised Entergy from a “sell” rating to a “hold” rating in a report on Sunday, December 29th. BMO Capital Markets lowered their price target on shares of Entergy from $83.00 to $79.50 and set an “outperform” rating on the stock in a report on Monday, November 18th. Finally, Bank of America downgraded 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. 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. According to MarketBeat, Entergy presently has an average rating of “Moderate Buy” and an average price target of $79.81.

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.