Strategic Financial Concepts LLC Buys Shares of 57,935 Entergy Corporation (NYSE:ETR)

Strategic Financial Concepts LLC purchased a new position in Entergy Corporation (NYSE:ETR) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 57,935 shares of the utilities provider’s stock, valued at approximately $4,393,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Global Retirement Partners LLC increased its stake in Entergy by 4.3% in the third quarter. Global Retirement Partners LLC now owns 7,629 shares of the utilities provider’s stock valued at $1,004,000 after acquiring an additional 317 shares during the last quarter. Bleakley Financial Group LLC increased its position in shares of Entergy by 2.7% during the 3rd quarter. Bleakley Financial Group LLC now owns 10,697 shares of the utilities provider’s stock valued at $1,408,000 after purchasing an additional 281 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Entergy by 1.6% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,443 shares of the utilities provider’s stock valued at $2,822,000 after buying an additional 344 shares in the last quarter. Net Worth Advisory Group purchased a new position in shares of Entergy during the 3rd quarter valued at about $227,000. Finally, Blue Trust Inc. lifted its position in Entergy by 700.0% in the 3rd quarter. Blue Trust Inc. now owns 1,696 shares of the utilities provider’s stock worth $223,000 after buying an additional 1,484 shares during the last quarter. Institutional investors own 88.07% of the company’s stock.

Entergy Stock Performance

Shares of ETR stock opened at $82.64 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 stock has a fifty day moving average of $78.32 and a 200 day moving average of $70.65. The firm has a market capitalization of $35.44 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 2.53 and a beta of 0.72. Entergy Corporation has a 52 week low of $48.93 and a 52 week high of $84.46.

Entergy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Monday, February 10th. Entergy’s payout ratio is 58.47%.

Wall Street Analysts Forecast Growth

Several research firms have commented on ETR. StockNews.com raised shares of Entergy from a “sell” rating to a “hold” rating in a research note on Sunday, December 29th. 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. Scotiabank reduced their price objective on Entergy from $165.00 to $82.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 7th. BMO Capital Markets decreased their price objective on Entergy from $83.00 to $79.50 and set an “outperform” rating on the stock in a report on Monday, November 18th. Finally, UBS Group raised their price target on Entergy from $72.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $79.81.

Insider Activity at Entergy

In other news, insider Deanna D. Rodriguez sold 6,088 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 3,952 shares in the company, valued at $292,210.88. This trade represents a 60.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.39% of the stock is owned by corporate insiders.

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.