Stock Yards Bank & Trust Co. Grows Stake in Entergy Corporation (NYSE:ETR)

Stock Yards Bank & Trust Co. increased its holdings in Entergy Corporation (NYSE:ETR) by 100.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,776 shares of the utilities provider’s stock after buying an additional 2,888 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Entergy were worth $438,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC purchased a new stake in shares of Entergy in the 3rd quarter valued at about $27,000. Cetera Trust Company N.A purchased a new stake in Entergy in the third quarter valued at approximately $29,000. Fortitude Family Office LLC lifted its position in Entergy by 423.8% during the third quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 178 shares during the last quarter. IFS Advisors LLC purchased a new position in Entergy in the fourth quarter worth $30,000. Finally, Ulland Investment Advisors LLC increased its stake in Entergy by 100.0% in the fourth quarter. Ulland Investment Advisors LLC now owns 400 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 88.07% of the company’s stock.

Insider Activity at Entergy

In other Entergy news, insider Eliecer Viamontes sold 400 shares of Entergy stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $73.50, for a total transaction of $29,400.00. Following the sale, the insider now directly owns 8,346 shares of the company’s stock, valued at approximately $613,431. The trade was a 4.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Deanna D. Rodriguez sold 6,088 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were 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 of the company’s stock, valued at approximately $292,210.88. The trade was a 60.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,756 shares of company stock worth $1,095,637 over the last 90 days. 0.54% of the stock is owned by company insiders.

Analyst Ratings Changes

ETR has been the subject of a number of research reports. Royal Bank of Canada upped their price objective on Entergy from $68.50 to $70.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Bank of America downgraded shares of Entergy from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $69.00 to $77.00 in a research note on Monday, November 4th. Mizuho lifted their target price on shares of Entergy from $69.00 to $82.50 and gave the stock an “outperform” rating in a research report on Monday, November 4th. UBS Group upped their price target on shares of Entergy from $72.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Finally, KeyCorp cut Entergy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Five 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $79.81.

Entergy Stock Performance

Shares of ETR stock opened at $82.04 on Tuesday. The firm has a market capitalization of $35.18 billion, a price-to-earnings ratio of 19.99, a PEG ratio of 2.50 and a beta of 0.72. The stock has a fifty day moving average of $77.23 and a 200 day moving average of $68.90. Entergy Corporation has a 52 week low of $48.08 and a 52 week high of $84.26. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 1.77.

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 2.93%. The ex-dividend date is Monday, February 10th. Entergy’s payout ratio is 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.