Richard Bernstein Advisors LLC Makes New Investment in Entergy Corporation (NYSE:ETR)

Richard Bernstein Advisors LLC purchased a new stake in shares of Entergy Corporation (NYSE:ETR) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 51,892 shares of the utilities provider’s stock, valued at approximately $3,934,000.

Several other institutional investors also recently modified their holdings of the business. Legacy Investment Solutions LLC bought a new stake in shares of Entergy in the third quarter worth approximately $27,000. Fortitude Family Office LLC boosted its holdings in Entergy by 423.8% in the third quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 178 shares during the last quarter. Coastline Trust Co bought a new stake in Entergy in the 3rd quarter worth approximately $31,000. Ashton Thomas Securities LLC purchased a new stake in Entergy during the 3rd quarter valued at $42,000. Finally, Fortis Group Advisors LLC lifted its holdings in shares of Entergy by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider’s stock valued at $26,000 after buying an additional 172 shares during the period. 88.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Entergy

In other Entergy 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 transaction 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 filing with the SEC, which is available through this link. 0.39% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on ETR. Barclays lifted their price objective on Entergy from $68.50 to $76.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. LADENBURG THALM/SH SH upgraded Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price target for the company in a research note on Thursday, January 30th. Evercore ISI increased their price objective on shares of Entergy from $75.00 to $86.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Mizuho raised their price objective on shares of Entergy from $69.00 to $82.50 and gave the stock an “outperform” rating in a report on Monday, November 4th. Finally, UBS Group upped their target price on shares of Entergy from $72.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Six 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 company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $82.14.

Entergy Price Performance

NYSE:ETR opened at $85.51 on Wednesday. The business’s 50-day simple moving average is $79.88 and its two-hundred day simple moving average is $72.05. Entergy Corporation has a 52 week low of $49.80 and a 52 week high of $88.38. The stock has a market cap of $36.80 billion, a PE ratio of 35.12, a P/E/G ratio of 2.34 and a beta of 0.72. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 1.81.

Entergy (NYSE:ETR) last issued its earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share (EPS) 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 company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter last year, the company earned $0.26 EPS. As a group, analysts forecast that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 10th will be given a dividend of $0.60 per share. The ex-dividend date is Monday, February 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.81%. Entergy’s dividend payout ratio is 98.77%.

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.