Mirae Asset Global Investments Co. Ltd. Acquires 24,113 Shares of Entergy Corporation (NYSE:ETR)

Mirae Asset Global Investments Co. Ltd. increased its stake in Entergy Corporation (NYSE:ETR) by 174.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 37,919 shares of the utilities provider’s stock after purchasing an additional 24,113 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Entergy were worth $2,873,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Clarius Group LLC purchased a new position in shares of Entergy during the 3rd quarter valued at $213,000. Gateway Investment Advisers LLC bought a new stake in Entergy during the third quarter valued at about $208,000. Exchange Traded Concepts LLC purchased a new position in shares of Entergy in the third quarter valued at about $1,101,000. Sound Income Strategies LLC boosted its stake in shares of Entergy by 4.3% in the third quarter. Sound Income Strategies LLC now owns 98,377 shares of the utilities provider’s stock worth $12,947,000 after acquiring an additional 4,027 shares during the period. Finally, Viking Fund Management LLC grew its position in shares of Entergy by 4.2% during the third quarter. Viking Fund Management LLC now owns 123,600 shares of the utilities provider’s stock worth $16,267,000 after purchasing an additional 5,000 shares in the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Entergy Stock Down 0.5 %

Shares of ETR opened at $82.37 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 1.77. The business has a fifty day moving average of $77.68 and a 200 day moving average of $69.74. The company has a market cap of $35.32 billion, a PE ratio of 20.07, a P/E/G ratio of 2.53 and a beta of 0.72. Entergy Corporation has a 52-week low of $48.08 and a 52-week high of $84.26.

Entergy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be issued 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 2.91%. Entergy’s dividend payout ratio (DPR) is presently 58.47%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Mizuho boosted their price target on Entergy from $69.00 to $82.50 and gave the stock an “outperform” rating in a report on Monday, November 4th. Royal Bank of Canada boosted their target price on shares of Entergy from $68.50 to $70.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. BMO Capital Markets reduced their price target on shares of Entergy from $83.00 to $79.50 and set an “outperform” rating on the stock in a report on Monday, November 18th. 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 note on Tuesday, November 5th. Finally, StockNews.com upgraded Entergy from a “sell” rating to a “hold” rating in a research report on Sunday, December 29th. Five 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 MarketBeat, Entergy presently has a consensus rating of “Moderate Buy” and an average price target of $79.81.

Insider Buying and Selling

In other news, insider Haley Fisackerly sold 8,268 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $74.52, for a total value of $616,090.02. Following the transaction, the insider now directly owns 4,032 shares in the company, valued at approximately $300,444.48. This represents a 67.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Deanna D. Rodriguez sold 6,088 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $73.94, for a total transaction of $450,146.72. Following the completion of the transaction, the insider now directly owns 3,952 shares in the company, valued at $292,210.88. This represents a 60.64 % decrease in their position. The disclosure for this sale can be found here. 0.39% of the stock is owned by corporate insiders.

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.