44 Wealth Management LLC Purchases 4,319 Shares of Entergy Corporation (NYSE:ETR)

44 Wealth Management LLC grew its position in Entergy Corporation (NYSE:ETR) by 60.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,456 shares of the utilities provider’s stock after acquiring an additional 4,319 shares during the period. 44 Wealth Management LLC’s holdings in Entergy were worth $869,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. OneDigital Investment Advisors LLC boosted its stake in Entergy by 2.1% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 3,427 shares of the utilities provider’s stock worth $451,000 after purchasing an additional 69 shares during the period. Acropolis Investment Management LLC lifted its position in 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 buying an additional 69 shares in the last quarter. Great Valley Advisor Group Inc. lifted its position in Entergy by 0.9% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 8,087 shares of the utilities provider’s stock worth $1,065,000 after buying an additional 74 shares in the last quarter. Prossimo Advisors LLC lifted its position in Entergy by 1.5% during the 3rd quarter. Prossimo Advisors LLC now owns 5,971 shares of the utilities provider’s stock worth $786,000 after buying an additional 90 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its position in Entergy by 1.3% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 7,233 shares of the utilities provider’s stock worth $952,000 after buying an additional 91 shares in the last quarter. Institutional investors own 88.07% of the company’s stock.

Insiders Place Their Bets

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

Analysts Set New Price Targets

ETR has been the topic of several analyst reports. Evercore ISI boosted their price target on shares of Entergy from $75.00 to $86.00 and gave the stock an “in-line” rating in a research report on Wednesday. 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 research report on Tuesday, January 7th. Barclays boosted their price target on shares of Entergy from $68.50 to $76.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Guggenheim upped their target price on shares of Entergy from $72.50 to $82.50 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Wells Fargo & Company upped their target price on shares of Entergy from $85.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday. Six 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $82.14.

Entergy Stock Down 1.1 %

Shares of ETR opened at $84.94 on Friday. Entergy Corporation has a 52 week low of $49.80 and a 52 week high of $88.38. The firm has a market cap of $36.56 billion, a P/E ratio of 34.88, a price-to-earnings-growth ratio of 2.34 and a beta of 0.72. The firm’s 50-day simple moving average is $79.24 and its 200 day simple moving average is $71.30. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.59 and a current ratio of 0.72.

Entergy (NYSE:ETR) last announced its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. Entergy had a net margin of 8.90% and a return on equity of 10.68%. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same quarter in the prior year, the business earned $0.26 EPS. On average, analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 10th will be given 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 2.83%. Entergy’s payout ratio is presently 98.56%.

Entergy Company 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.