Spirit of America Management Corp NY lifted its position in Entergy Corporation (NYSE:ETR – Free Report) by 123.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 20,200 shares of the utilities provider’s stock after acquiring an additional 11,150 shares during the period. Spirit of America Management Corp NY’s holdings in Entergy were worth $1,532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently made changes to their positions in the company. OneDigital Investment Advisors LLC increased its position in shares of Entergy by 2.1% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 3,427 shares of the utilities provider’s stock valued at $451,000 after acquiring an additional 69 shares during the period. Acropolis Investment Management LLC grew its position in Entergy by 0.8% during the 3rd quarter. Acropolis Investment Management LLC now owns 8,836 shares of the utilities provider’s stock worth $1,163,000 after purchasing an additional 69 shares during the period. Great Valley Advisor Group Inc. grew its position in Entergy by 0.9% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 8,087 shares of the utilities provider’s stock worth $1,065,000 after purchasing an additional 74 shares during the period. Bank & Trust Co grew its position in Entergy by 12.8% during the 3rd quarter. Bank & Trust Co now owns 795 shares of the utilities provider’s stock worth $105,000 after purchasing an additional 90 shares during the period. Finally, Prossimo Advisors LLC grew its position in Entergy by 1.5% during the 3rd quarter. Prossimo Advisors LLC now owns 5,971 shares of the utilities provider’s stock worth $786,000 after purchasing an additional 90 shares during the period. 88.07% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Entergy
In related news, insider Deanna D. Rodriguez sold 6,088 shares of Entergy stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $73.94, for a total value of $450,146.72. Following the completion of the sale, the insider now owns 3,952 shares in the company, valued at approximately $292,210.88. This trade represents a 60.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Haley Fisackerly sold 8,268 shares of Entergy 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 sale, the insider now owns 4,032 shares of the company’s stock, valued at $300,444.48. This trade represents a 67.22 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.
Entergy Stock Down 0.5 %
Entergy Dividend Announcement
The company also recently declared 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. The ex-dividend date is Monday, February 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.94%. Entergy’s dividend payout ratio is currently 58.47%.
Analysts Set New Price Targets
Several equities research analysts have weighed in on the company. Royal Bank of Canada increased their price target on Entergy from $68.50 to $70.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Bank of America lowered shares of Entergy from a “buy” rating to a “neutral” rating and increased their target price for the stock from $69.00 to $77.00 in a research note on Monday, November 4th. UBS Group increased their target price on shares of Entergy from $72.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Scotiabank decreased their price target on shares of Entergy from $165.00 to $82.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 7th. Finally, KeyCorp lowered shares of Entergy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Entergy presently has an average rating of “Moderate Buy” and an average price target of $79.81.
Read Our Latest Stock Analysis on Entergy
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.
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Want to see what other hedge funds are holding ETR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Entergy Corporation (NYSE:ETR – Free Report).
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