Journey Strategic Wealth LLC Acquires New Shares in Entergy Corporation (NYSE:ETR)

Journey Strategic Wealth LLC acquired a new stake in Entergy Corporation (NYSE:ETR) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 3,720 shares of the utilities provider’s stock, valued at approximately $282,000.

A number of other hedge funds have also bought and sold shares of the business. Franklin Resources Inc. grew its position in Entergy by 53.0% during the third 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 in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Entergy by 60.6% during the third quarter. JPMorgan Chase & Co. now owns 3,589,727 shares of the utilities provider’s stock worth $472,444,000 after purchasing an additional 1,354,355 shares in the last quarter. Confluence Investment Management LLC grew its holdings in shares of Entergy by 96.0% during the fourth quarter. Confluence Investment Management LLC now owns 1,607,273 shares of the utilities provider’s stock worth $121,863,000 after purchasing an additional 787,367 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Entergy by 1,490.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 687,874 shares of the utilities provider’s stock worth $52,155,000 after purchasing an additional 644,622 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in Entergy by 16,409.2% in the 3rd quarter. International Assets Investment Management LLC now owns 466,716 shares of the utilities provider’s stock worth $61,424,000 after buying an additional 463,889 shares in the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Entergy

In related news, insider Deanna D. Rodriguez sold 6,088 shares of the business’s stock in a transaction dated 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. The trade was a 60.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eliecer Viamontes sold 400 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $73.50, for a total transaction of $29,400.00. Following the completion of the sale, the insider now owns 8,346 shares of the company’s stock, valued at $613,431. This trade represents a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,756 shares of company stock worth $1,095,637 over the last quarter. 0.54% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on ETR. Scotiabank cut their price target on shares of Entergy from $165.00 to $82.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 7th. Morgan Stanley upgraded Entergy from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $58.00 to $75.00 in a report on Monday, November 4th. Barclays upped their price objective on Entergy from $68.50 to $76.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. BMO Capital Markets cut their target price on Entergy from $83.00 to $79.50 and set an “outperform” rating for the company in a research note on Monday, November 18th. Finally, Wells Fargo & Company upped their target price on Entergy from $68.50 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $79.81.

Entergy Stock Performance

Entergy stock opened at $82.04 on Tuesday. 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 firm has a 50-day moving average of $77.23 and a 200-day moving average of $68.90. The firm has a market cap of $35.18 billion, a P/E ratio of 19.99, a P/E/G ratio of 2.50 and a beta of 0.72. Entergy Corporation has a 1-year low of $48.08 and a 1-year high of $84.26.

Entergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be given a $0.60 dividend. The ex-dividend date is Monday, February 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.93%. Entergy’s dividend payout ratio is currently 58.47%.

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.