Concurrent Investment Advisors LLC Acquires 4,787 Shares of Entergy Corporation (NYSE:ETR)

Concurrent Investment Advisors LLC grew its stake in Entergy Corporation (NYSE:ETR) by 88.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,172 shares of the utilities provider’s stock after purchasing an additional 4,787 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Entergy were worth $771,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Fortis Group Advisors LLC raised its holdings in Entergy by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 172 shares during the period. Legacy Investment Solutions LLC bought a new position in Entergy during the third quarter worth about $27,000. Fortitude Family Office LLC increased its position in Entergy by 423.8% during 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 period. IFS Advisors LLC bought a new position in shares of Entergy during the fourth quarter worth approximately $30,000. Finally, Ulland Investment Advisors LLC increased its holdings in shares of Entergy by 100.0% during the fourth 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 period. 88.07% of the stock is owned by institutional investors.

Entergy Trading Down 1.1 %

ETR opened at $84.94 on Monday. Entergy Corporation has a fifty-two week low of $49.80 and a fifty-two week high of $88.38. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.72 and a quick ratio of 0.59. The firm has a market capitalization of $36.56 billion, a price-to-earnings ratio of 34.88, a PEG ratio of 2.34 and a beta of 0.72. The company’s 50 day moving average price is $79.45 and its two-hundred day moving average price is $71.67.

Entergy (NYSE:ETR) last posted its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $3.24 billion. Entergy had a return on equity of 10.68% and a net margin of 8.90%. During the same period in the prior year, the business posted $0.26 earnings per share. As a group, research analysts predict that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Announces Dividend

The business 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 $0.60 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $2.40 annualized dividend and a dividend yield of 2.83%. Entergy’s payout ratio is 98.56%.

Insider Activity

In other news, insider Deanna D. Rodriguez sold 6,088 shares of the 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 completion of the sale, the insider now directly owns 3,952 shares in the company, valued at $292,210.88. This represents a 60.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.39% of the company’s stock.

Wall Street Analysts Forecast Growth

ETR has been the topic of a number of recent analyst reports. Barclays raised their price target on Entergy from $68.50 to $76.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Scotiabank decreased 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 note on Tuesday, January 7th. Morgan Stanley raised shares of Entergy from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $58.00 to $75.00 in a research note on Monday, November 4th. Wells Fargo & Company lifted their price target on Entergy from $85.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Finally, BMO Capital Markets raised their price objective on Entergy from $79.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Six equities 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 stock. According to data from MarketBeat.com, the stock currently has a consensus 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.