Levin Capital Strategies L.P. Buys Shares of 3,000 Entergy Corporation (NYSE:ETR)

Levin Capital Strategies L.P. bought a new stake in shares of Entergy Corporation (NYSE:ETR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,000 shares of the utilities provider’s stock, valued at approximately $227,000.

Several other hedge funds and other institutional investors have also bought and sold shares of ETR. Fortis Group Advisors LLC lifted its stake in 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 acquiring an additional 172 shares during the period. Legacy Investment Solutions LLC bought a new position in Entergy during the 3rd quarter valued at about $27,000. Duncker Streett & Co. Inc. lifted its stake in Entergy by 100.0% during the 4th quarter. Duncker Streett & Co. Inc. now owns 358 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 179 shares during the period. IFS Advisors LLC bought a new position in Entergy during the 4th quarter valued at about $30,000. Finally, Ulland Investment Advisors LLC lifted its stake in Entergy by 100.0% during the 4th 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 period. Institutional investors own 88.07% of the company’s stock.

Entergy Trading Up 2.4 %

Shares of NYSE:ETR opened at $87.29 on Friday. Entergy Corporation has a 12-month low of $49.80 and a 12-month high of $88.38. The company has a market capitalization of $37.57 billion, a PE ratio of 35.85, a PEG ratio of 2.34 and a beta of 0.72. The business has a 50 day moving average of $80.59 and a two-hundred day moving average of $72.53. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 1.81.

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

Entergy Announces Dividend

The business also recently announced 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. This represents a $2.40 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Monday, February 10th. Entergy’s payout ratio is currently 98.77%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Mizuho increased their price objective on shares of Entergy from $69.00 to $82.50 and gave the stock an “outperform” rating in a research note on Monday, November 4th. 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. Morgan Stanley upgraded shares of Entergy from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $58.00 to $75.00 in a research note on Monday, November 4th. Wells Fargo & Company increased their price objective on shares of Entergy from $85.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Finally, BMO Capital Markets increased their price objective on shares of Entergy from $79.00 to $94.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $82.14.

Insider Buying and Selling at Entergy

In related news, insider Deanna D. Rodriguez sold 6,088 shares of the 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 transaction, the insider now owns 3,952 shares of the company’s stock, valued at approximately $292,210.88. This represents a 60.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.39% of the stock is owned by company 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.