CORDA Investment Management LLC. Makes New Investment in Entergy Corporation (NYSE:ETR)

CORDA Investment Management LLC. purchased a new stake in shares of Entergy Corporation (NYSE:ETR) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 14,873 shares of the utilities provider’s stock, valued at approximately $1,128,000.

A number of other hedge funds have also modified their holdings of ETR. Franklin Resources Inc. boosted its holdings in Entergy by 53.0% in the 3rd quarter. Franklin Resources Inc. now owns 5,718,859 shares of the utilities provider’s stock worth $754,318,000 after buying an additional 1,981,611 shares during the period. Jennison Associates LLC boosted its stake in shares of Entergy by 139.5% in the fourth quarter. Jennison Associates LLC now owns 2,423,556 shares of the utilities provider’s stock worth $183,754,000 after acquiring an additional 1,411,473 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Entergy by 60.6% in the third quarter. JPMorgan Chase & Co. now owns 3,589,727 shares of the utilities provider’s stock worth $472,444,000 after acquiring an additional 1,354,355 shares during the period. Bank of New York Mellon Corp raised its stake in Entergy by 87.4% during the 4th quarter. Bank of New York Mellon Corp now owns 2,848,293 shares of the utilities provider’s stock valued at $215,958,000 after purchasing an additional 1,328,694 shares during the period. Finally, Truist Financial Corp lifted its holdings in Entergy by 105.0% in the 4th quarter. Truist Financial Corp now owns 2,072,950 shares of the utilities provider’s stock worth $157,171,000 after purchasing an additional 1,061,527 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors.

Entergy Stock Down 1.0 %

Entergy stock opened at $85.26 on Friday. The stock has a 50 day moving average of $80.35 and a two-hundred day moving average of $72.24. Entergy Corporation has a twelve month low of $49.80 and a twelve month high of $88.38. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $36.70 billion, a price-to-earnings ratio of 35.02, a PEG ratio of 2.34 and a beta of 0.72.

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

Entergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors 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 2.81%. The ex-dividend date is Monday, February 10th. Entergy’s payout ratio is 98.77%.

Insider Buying and Selling

In other news, insider Deanna D. Rodriguez sold 6,088 shares of Entergy stock in a transaction 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 owns 3,952 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at the SEC website. 0.39% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ETR has been the topic of several research reports. StockNews.com raised Entergy from a “sell” rating to a “hold” rating in a report on Sunday, December 29th. Bank of America lowered Entergy from a “buy” rating to a “neutral” rating and boosted their target price for the company from $69.00 to $77.00 in a research report on Monday, November 4th. Barclays upped their target price on shares of Entergy from $68.50 to $76.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Scotiabank decreased their price objective on Entergy from $165.00 to $82.00 and set a “sector perform” rating for the company in a report on Tuesday, January 7th. Finally, Wells Fargo & Company upped their price objective on Entergy from $85.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Six investment 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $82.14.

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.