3,150 Shares in Entergy Corporation (NYSE:ETR) Purchased by Longboard Asset Management LP

Longboard Asset Management LP bought a new stake in shares of Entergy Corporation (NYSE:ETR) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,150 shares of the utilities provider’s stock, valued at approximately $239,000.

Several other hedge funds also recently modified their holdings of ETR. Legacy Investment Solutions LLC bought a new position in Entergy in the third quarter valued at approximately $27,000. Fortitude Family Office LLC boosted its position in shares of Entergy by 423.8% in the 3rd 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. Cetera Trust Company N.A acquired a new stake in shares of Entergy during the third quarter worth $29,000. Coastline Trust Co acquired a new stake in shares of Entergy during the third quarter worth $31,000. Finally, Ashton Thomas Securities LLC bought a new stake in Entergy in the third quarter valued at about $42,000. Institutional investors own 88.07% of the company’s stock.

Insider Buying and Selling at Entergy

In related news, insider Haley Fisackerly sold 8,268 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $74.52, for a total transaction of $616,090.02. Following the sale, the insider now owns 4,032 shares in the company, valued at approximately $300,444.48. This trade represents a 67.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Deanna D. Rodriguez sold 6,088 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,756 shares of company stock valued at $1,095,637 in the last three months. Corporate insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Royal Bank of Canada raised their target price on Entergy from $68.50 to $70.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Morgan Stanley raised shares of Entergy from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $58.00 to $75.00 in a research note on Monday, November 4th. Mizuho upped their target price on shares of Entergy from $69.00 to $82.50 and gave the company an “outperform” rating in a research note on Monday, November 4th. LADENBURG THALM/SH SH upgraded shares of Entergy from a “neutral” rating to a “buy” rating and set a $86.50 target price on the stock in a report on Thursday, January 30th. Finally, Wells Fargo & Company boosted their price target on shares of Entergy from $68.50 to $85.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Entergy presently has an average rating of “Moderate Buy” and an average target price of $79.81.

Entergy Stock Performance

NYSE:ETR opened at $82.04 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 1.77. The stock has a 50 day simple moving average of $77.23 and a 200 day simple moving average of $68.90. Entergy Corporation has a 1-year low of $48.08 and a 1-year high of $84.26. The stock has a market cap of $35.18 billion, a P/E ratio of 19.99, a PEG ratio of 2.50 and a beta of 0.72.

Entergy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be given a $0.60 dividend. The ex-dividend date is Monday, February 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.93%. 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.