Forte Capital LLC ADV Invests $219,000 in Entergy Corporation (NYSE:ETR)

Forte Capital LLC ADV acquired a new position in shares of Entergy Corporation (NYSE:ETR) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,886 shares of the utilities provider’s stock, valued at approximately $219,000.

A number of other hedge funds have also modified their holdings of ETR. Franklin Resources Inc. increased its stake 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 purchasing an additional 1,981,611 shares in the last quarter. Jennison Associates LLC grew its stake in Entergy by 139.5% in the 4th quarter. Jennison Associates LLC now owns 2,423,556 shares of the utilities provider’s stock worth $183,754,000 after acquiring an additional 1,411,473 shares during the period. JPMorgan Chase & Co. grew its stake in Entergy by 60.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,589,727 shares of the utilities provider’s stock worth $472,444,000 after acquiring an additional 1,354,355 shares during the period. Truist Financial Corp grew its stake in Entergy by 105.0% in the 4th quarter. Truist Financial Corp now owns 2,072,950 shares of the utilities provider’s stock worth $157,171,000 after acquiring an additional 1,061,527 shares during the period. Finally, Confluence Investment Management LLC grew its stake in Entergy by 96.0% in the 4th quarter. Confluence Investment Management LLC now owns 1,607,273 shares of the utilities provider’s stock worth $121,863,000 after acquiring an additional 787,367 shares during the period. 88.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. BMO Capital Markets lifted their target price on shares of Entergy from $79.00 to $94.00 and gave the stock an “outperform” rating in a research note on Wednesday. Scotiabank lowered their target price on shares of Entergy from $165.00 to $82.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 7th. Bank of America cut shares of Entergy from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $69.00 to $77.00 in a research note on Monday, November 4th. KeyCorp lowered shares of Entergy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Finally, LADENBURG THALM/SH SH upgraded shares of Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price target on the stock in a report on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $82.14.

Entergy Stock Performance

NYSE:ETR opened at $84.94 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 1.81. The firm has a market capitalization of $36.56 billion, a price-to-earnings ratio of 34.88, a PEG ratio of 2.66 and a beta of 0.72. The firm’s fifty day simple moving average is $79.24 and its 200 day simple moving average is $71.30. Entergy Corporation has a twelve month low of $49.80 and a twelve month high of $88.38.

Entergy (NYSE:ETR) last issued its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. Entergy had a net margin of 8.90% and a return on equity of 10.68%. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same quarter in the previous year, the business posted $0.26 EPS. As a group, equities research analysts expect that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 10th will be issued a $0.60 dividend. The ex-dividend date is Monday, February 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.83%. Entergy’s dividend payout ratio is currently 98.56%.

Insiders Place Their Bets

In other Entergy news, insider Deanna D. Rodriguez sold 6,088 shares of the business’s stock in a transaction 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 transaction, the insider now owns 3,952 shares in the company, valued at $292,210.88. The trade was a 60.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.39% of the stock is currently owned by company insiders.

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.