Summit Trail Advisors LLC Grows Stock Holdings in Entergy Corporation (NYSE:ETR)

Summit Trail Advisors LLC grew its holdings in shares of Entergy Corporation (NYSE:ETR) by 232.5% during the fourth quarter, HoldingsChannel reports. The firm owned 7,162 shares of the utilities provider’s stock after purchasing an additional 5,008 shares during the quarter. Summit Trail Advisors LLC’s holdings in Entergy were worth $543,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. State Street Corp lifted its position in Entergy by 1.1% during the third quarter. State Street Corp now owns 11,408,776 shares of the utilities provider’s stock worth $1,501,509,000 after buying an additional 128,667 shares during the period. FMR LLC increased its stake in shares of Entergy by 5.0% during the 3rd quarter. FMR LLC now owns 6,613,647 shares of the utilities provider’s stock valued at $870,422,000 after acquiring an additional 315,750 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Entergy by 53.0% during the 3rd quarter. Franklin Resources Inc. now owns 5,718,859 shares of the utilities provider’s stock worth $754,318,000 after acquiring an additional 1,981,611 shares during the period. Geode Capital Management LLC boosted its position in shares of Entergy by 0.8% in the third quarter. Geode Capital Management LLC now owns 4,965,257 shares of the utilities provider’s stock worth $651,206,000 after acquiring an additional 37,279 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Entergy by 60.6% in the third quarter. JPMorgan Chase & Co. now owns 3,589,727 shares of the utilities provider’s stock valued at $472,444,000 after purchasing an additional 1,354,355 shares during the period. Institutional investors and hedge funds own 88.07% of the company’s stock.

Insider Activity 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 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. This represents a 60.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Morgan Stanley raised shares of Entergy from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $58.00 to $75.00 in a research note on Monday, November 4th. Guggenheim increased their target price on Entergy from $72.50 to $82.50 and gave the stock a “buy” rating in a research report on Friday, November 1st. UBS Group boosted their price target on Entergy from $72.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Mizuho upped their price target on Entergy from $69.00 to $82.50 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Finally, StockNews.com raised Entergy from a “sell” rating to a “hold” rating in a research note on Sunday, December 29th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $79.81.

Entergy Stock Up 0.3 %

NYSE ETR opened at $82.02 on Wednesday. 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 Corporation has a fifty-two week low of $48.08 and a fifty-two week high of $84.26. The business has a 50 day moving average price of $77.78 and a two-hundred day moving average price of $70.03. The stock has a market cap of $35.17 billion, a PE ratio of 19.98, a P/E/G ratio of 2.53 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 paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $2.40 annualized dividend and a dividend yield of 2.93%. Entergy’s dividend payout ratio (DPR) is presently 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.