Forsta AP Fonden Acquires 85,500 Shares of Entergy Corporation (NYSE:ETR)

Forsta AP Fonden lifted its holdings in shares of Entergy Corporation (NYSE:ETR) by 95.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 175,500 shares of the utilities provider’s stock after purchasing an additional 85,500 shares during the period. Forsta AP Fonden’s holdings in Entergy were worth $13,306,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. OneDigital Investment Advisors LLC raised 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 valued at $451,000 after acquiring an additional 69 shares during the period. Acropolis Investment Management LLC raised its stake in Entergy by 0.8% in the 3rd quarter. Acropolis Investment Management LLC now owns 8,836 shares of the utilities provider’s stock valued at $1,163,000 after acquiring an additional 69 shares during the period. Great Valley Advisor Group Inc. raised its stake in Entergy by 0.9% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 8,087 shares of the utilities provider’s stock valued at $1,065,000 after acquiring an additional 74 shares during the period. Bank & Trust Co raised its stake in Entergy by 12.8% in the 3rd quarter. Bank & Trust Co now owns 795 shares of the utilities provider’s stock valued at $105,000 after acquiring an additional 90 shares during the period. Finally, Prossimo Advisors LLC raised its stake in Entergy by 1.5% in the 3rd quarter. Prossimo Advisors LLC now owns 5,971 shares of the utilities provider’s stock valued at $786,000 after acquiring an additional 90 shares during the period. 88.07% of the stock is currently owned by institutional investors.

Entergy Stock Up 2.3 %

Shares of NYSE ETR opened at $79.43 on Thursday. The firm has a market capitalization of $34.06 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 2.54 and a beta of 0.71. The business has a 50-day moving average of $76.93 and a 200-day moving average of $68.34. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 1.77. Entergy Corporation has a 12 month low of $48.08 and a 12 month high of $84.26.

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

Insiders Place Their Bets

In other Entergy news, insider Eliecer Viamontes sold 400 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $73.50, for a total value 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 represents a 4.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Haley Fisackerly sold 8,268 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $74.52, for a total value of $616,090.02. Following the completion of the sale, the insider now directly owns 4,032 shares of the company’s stock, valued at approximately $300,444.48. This represents a 67.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,756 shares of company stock valued at $1,095,637 over the last quarter. 0.39% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ETR. Barclays upped their price target on Entergy from $68.50 to $76.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Royal Bank of Canada upped their price target on Entergy from $68.50 to $70.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. BMO Capital Markets decreased their price target on Entergy from $83.00 to $79.50 and set an “outperform” rating on the stock in a research report on Monday, November 18th. Bank of America cut Entergy from a “buy” rating to a “neutral” rating and upped their price target for the company from $69.00 to $77.00 in a research report on Monday, November 4th. Finally, Scotiabank decreased their price target on Entergy from $165.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 7th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Entergy has an average rating of “Moderate Buy” and a consensus target price of $77.37.

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.