Trinity Legacy Partners LLC Invests $213,000 in Entergy Corporation (NYSE:ETR)

Trinity Legacy Partners LLC bought a new stake in Entergy Corporation (NYSE:ETR) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,808 shares of the utilities provider’s stock, valued at approximately $213,000.

A number of other institutional investors and hedge funds also recently modified their holdings of ETR. Franklin Resources Inc. raised its holdings in shares of Entergy by 53.0% in the 3rd quarter. Franklin Resources Inc. now owns 5,718,859 shares of the utilities provider’s stock worth $754,318,000 after purchasing an additional 1,981,611 shares during the period. Jennison Associates LLC raised its stake in shares of Entergy by 139.5% in the fourth quarter. Jennison Associates LLC now owns 2,423,556 shares of the utilities provider’s stock valued at $183,754,000 after buying an additional 1,411,473 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Entergy by 60.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,589,727 shares of the utilities provider’s stock valued at $472,444,000 after buying an additional 1,354,355 shares during the last quarter. Truist Financial Corp grew its stake in shares of Entergy by 105.0% during the 4th quarter. Truist Financial Corp now owns 2,072,950 shares of the utilities provider’s stock worth $157,171,000 after acquiring an additional 1,061,527 shares during the period. Finally, Confluence Investment Management LLC increased its holdings in Entergy by 96.0% in the 4th quarter. Confluence Investment Management LLC now owns 1,607,273 shares of the utilities provider’s stock worth $121,863,000 after acquiring an additional 787,367 shares during the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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. Insiders own 0.39% of the company’s stock.

Entergy Trading Down 1.7 %

Shares of ETR opened at $85.82 on Friday. The firm has a 50 day moving average price of $79.01 and a 200-day moving average price of $71.19. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.59 and a current ratio of 0.72. Entergy Corporation has a fifty-two week low of $49.80 and a fifty-two week high of $88.38. The firm has a market cap of $36.94 billion, a price-to-earnings ratio of 35.24, a PEG ratio of 2.66 and a beta of 0.72.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.03. Entergy had a return on equity of 10.68% and a net margin of 8.90%. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the previous year, the company posted $0.26 earnings per share. As a group, equities research analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 10th will be issued a $0.60 dividend. The ex-dividend date is Monday, February 10th. This represents a $2.40 annualized dividend and a yield of 2.80%. Entergy’s dividend payout ratio (DPR) is presently 98.56%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. StockNews.com upgraded shares of Entergy from a “sell” rating to a “hold” rating in a research report on Sunday, December 29th. KeyCorp cut shares of Entergy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Evercore ISI lifted their price target on Entergy from $75.00 to $86.00 and gave the company an “in-line” rating in a research report on Wednesday. Guggenheim upped their price target on Entergy from $72.50 to $82.50 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, UBS Group raised their price objective 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. Six equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $82.14.

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.