9,580 Shares in Entergy Corporation (NYSE:ETR) Purchased by Groesbeck Investment Management Corp NJ

Groesbeck Investment Management Corp NJ purchased a new position in shares of Entergy Corporation (NYSE:ETR) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 9,580 shares of the utilities provider’s stock, valued at approximately $726,000.

A number of other hedge funds have also recently modified their holdings of ETR. Franklin Resources Inc. increased its stake in Entergy by 53.0% during the third quarter. Franklin Resources Inc. now owns 5,718,859 shares of the utilities provider’s stock worth $754,318,000 after purchasing an additional 1,981,611 shares during the period. Jennison Associates LLC increased its position in Entergy by 139.5% during the fourth quarter. Jennison Associates LLC now owns 2,423,556 shares of the utilities provider’s stock worth $183,754,000 after buying an additional 1,411,473 shares during the period. JPMorgan Chase & Co. increased its position in Entergy by 60.6% during the third quarter. JPMorgan Chase & Co. now owns 3,589,727 shares of the utilities provider’s stock worth $472,444,000 after buying an additional 1,354,355 shares during the period. Confluence Investment Management LLC increased its position in Entergy by 96.0% during the fourth quarter. Confluence Investment Management LLC now owns 1,607,273 shares of the utilities provider’s stock worth $121,863,000 after buying an additional 787,367 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in Entergy by 1,490.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 687,874 shares of the utilities provider’s stock worth $52,155,000 after buying an additional 644,622 shares during the period. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ETR. Barclays increased their price target on shares of Entergy from $68.50 to $76.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. UBS Group upped their price target on shares of Entergy from $72.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Morgan Stanley raised shares of Entergy from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $58.00 to $75.00 in a research note on Monday, November 4th. StockNews.com raised shares of Entergy from a “sell” rating to a “hold” rating in a research note on Sunday, December 29th. Finally, Royal Bank of Canada upped their price target on shares of Entergy from $68.50 to $70.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. 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 stock. Based on data from MarketBeat.com, Entergy presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.81.

Insider Buying and Selling

In related news, insider Haley Fisackerly sold 8,268 shares of the business’s 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 completion of the transaction, the insider now owns 4,032 shares in the company, valued at approximately $300,444.48. The trade was a 67.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 position. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

Entergy Stock Performance

Shares of NYSE ETR opened at $81.66 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. The business’s 50 day moving average is $77.34 and its two-hundred day moving average is $69.08. The company has a market cap of $35.02 billion, a P/E ratio of 19.89, a P/E/G ratio of 2.50 and a beta of 0.72. Entergy Corporation has a 12 month low of $48.08 and a 12 month high of $84.26.

Entergy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.94%. The ex-dividend date is Monday, February 10th. Entergy’s payout ratio 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.