Platform Technology Partners Purchases 2,034 Shares of Entergy Corporation (NYSE:ETR)

Platform Technology Partners raised its position in Entergy Corporation (NYSE:ETR) by 100.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,068 shares of the utilities provider’s stock after purchasing an additional 2,034 shares during the quarter. Platform Technology Partners’ holdings in Entergy were worth $308,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Czech National Bank grew its holdings in Entergy by 7.0% during the 3rd quarter. Czech National Bank now owns 43,555 shares of the utilities provider’s stock worth $5,732,000 after acquiring an additional 2,864 shares during the last quarter. Clarius Group LLC bought a new stake in shares of Entergy in the third quarter worth $213,000. LVW Advisors LLC increased its holdings in Entergy by 23.7% in the third quarter. LVW Advisors LLC now owns 3,244 shares of the utilities provider’s stock valued at $427,000 after purchasing an additional 622 shares during the period. Gateway Investment Advisers LLC acquired a new stake in Entergy in the third quarter valued at $208,000. Finally, Exchange Traded Concepts LLC bought a new position in Entergy during the 3rd quarter worth $1,101,000. 88.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ETR shares. Guggenheim increased their price target on Entergy from $72.50 to $82.50 and gave the company a “buy” rating in a research note on Friday, November 1st. Bank of America downgraded shares of Entergy from a “buy” rating to a “neutral” rating and increased their target price for the company from $69.00 to $77.00 in a research report on Monday, November 4th. UBS Group boosted their price target on shares of Entergy from $72.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. BMO Capital Markets reduced their price objective on shares of Entergy from $83.00 to $79.50 and set an “outperform” rating on the stock in a research note on Monday, November 18th. Finally, KeyCorp downgraded shares of Entergy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Five 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $79.81.

Insider Buying and Selling

In other news, insider Haley Fisackerly sold 8,268 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $74.52, for a total transaction of $616,090.02. Following the completion of the sale, the insider now directly owns 4,032 shares of the company’s stock, valued at $300,444.48. The trade was a 67.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Deanna D. Rodriguez sold 6,088 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were 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 directly owns 3,952 shares in the company, 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. 0.54% of the stock is owned by company insiders.

Entergy Stock Performance

Shares of ETR opened at $82.37 on Friday. The stock has a 50-day moving average of $77.59 and a 200-day moving average of $69.46. Entergy Corporation has a one year low of $48.08 and a one year high of $84.26. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.89 and a quick ratio of 0.59. The company has a market cap of $35.32 billion, a PE ratio of 20.07, a P/E/G ratio of 2.50 and a beta of 0.72.

Entergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date is Monday, February 10th. Entergy’s payout ratio is 58.47%.

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.