Entergy Corporation (NYSE:ETR) Shares Purchased by Cidel Asset Management Inc.

Cidel Asset Management Inc. raised its holdings in shares of Entergy Corporation (NYSE:ETR) by 100.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,790 shares of the utilities provider’s stock after purchasing an additional 1,895 shares during the period. Cidel Asset Management Inc.’s holdings in Entergy were worth $287,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Conning Inc. purchased a new stake in Entergy in the 4th quarter valued at approximately $219,000. Shepherd Financial Partners LLC lifted its stake in shares of Entergy by 102.9% during the fourth quarter. Shepherd Financial Partners LLC now owns 14,727 shares of the utilities provider’s stock valued at $1,117,000 after buying an additional 7,468 shares during the period. Platform Technology Partners lifted its stake in shares of Entergy by 100.0% during the 4th quarter. Platform Technology Partners now owns 4,068 shares of the utilities provider’s stock worth $308,000 after purchasing an additional 2,034 shares during the period. Gilliland Jeter Wealth Management LLC grew its position in shares of Entergy by 247.8% in the fourth quarter. Gilliland Jeter Wealth Management LLC now owns 2,821 shares of the utilities provider’s stock valued at $214,000 after purchasing an additional 2,010 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Entergy by 130.3% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 49,388 shares of the utilities provider’s stock worth $3,745,000 after acquiring an additional 27,945 shares during the period. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ETR shares. Guggenheim lifted their target price on Entergy from $72.50 to $82.50 and gave the company a “buy” rating in a report on Friday, November 1st. Morgan Stanley raised shares of Entergy from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $58.00 to $75.00 in a research report on Monday, November 4th. Wells Fargo & Company upped their price target on shares of Entergy from $68.50 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. UBS Group boosted their price objective on Entergy from $72.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Finally, StockNews.com raised shares of Entergy from a “sell” rating to a “hold” rating in a research report on Sunday, December 29th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $79.81.

Entergy Stock Down 0.5 %

ETR stock opened at $82.37 on Friday. The company has a market capitalization of $35.32 billion, a price-to-earnings ratio of 20.07, a price-to-earnings-growth ratio of 2.53 and a beta of 0.72. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 1.77. Entergy Corporation has a 52 week low of $48.08 and a 52 week high of $84.26. The firm’s 50-day moving average is $77.68 and its two-hundred day moving average is $69.64.

Entergy Announces Dividend

The firm also recently disclosed 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 is Monday, February 10th. This represents a $2.40 annualized dividend and a dividend yield of 2.91%. Entergy’s dividend payout ratio is currently 58.47%.

Insider Buying and Selling at Entergy

In related news, insider Deanna D. Rodriguez sold 6,088 shares of the firm’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 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 trade represents a 60.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Haley Fisackerly sold 8,268 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $74.52, for a total value 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 approximately $300,444.48. This represents a 67.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.39% of the stock is owned by corporate insiders.

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.