Fortis Group Advisors LLC Raises Stake in Entergy Corporation (NYSE:ETR)

Fortis Group Advisors LLC boosted its holdings in shares of Entergy Corporation (NYSE:ETR) by 100.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 344 shares of the utilities provider’s stock after purchasing an additional 172 shares during the period. Fortis Group Advisors LLC’s holdings in Entergy were worth $26,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Legacy Investment Solutions LLC purchased a new stake in shares of Entergy in the third quarter valued at about $27,000. Cetera Trust Company N.A purchased a new stake in shares of Entergy in the third quarter valued at about $29,000. Fortitude Family Office LLC boosted its holdings in shares of Entergy by 423.8% in the third quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 178 shares in the last quarter. IFS Advisors LLC purchased a new stake in shares of Entergy in the fourth quarter valued at about $30,000. Finally, Ulland Investment Advisors LLC boosted its holdings in shares of Entergy by 100.0% in the fourth quarter. Ulland Investment Advisors LLC now owns 400 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 200 shares in the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, 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 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 $292,210.88. The trade was a 60.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.39% of the company’s stock.

Entergy Stock Performance

Shares of ETR opened at $87.45 on Wednesday. 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 market cap of $37.50 billion, a P/E ratio of 21.30, a PEG ratio of 2.53 and a beta of 0.72. The company has a 50-day moving average of $78.47 and a two-hundred day moving average of $70.89. Entergy Corporation has a 12-month low of $49.80 and a 12-month high of $88.38.

Entergy (NYSE:ETR) last posted its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. Entergy had a net margin of 14.83% and a return on equity of 9.53%. During the same period last year, the firm earned $0.26 earnings per share. As a group, research analysts predict that Entergy Corporation will post 3.63 EPS for the current fiscal year.

Entergy Dividend Announcement

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 given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Monday, February 10th. Entergy’s dividend payout ratio is presently 58.47%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Mizuho lifted their target price on shares of Entergy from $69.00 to $82.50 and gave the company an “outperform” rating in a report on Monday, November 4th. UBS Group boosted their price objective on shares of Entergy from $72.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. KeyCorp downgraded shares of Entergy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Barclays boosted their price objective on shares of Entergy from $68.50 to $76.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Guggenheim boosted their price objective on shares of Entergy from $72.50 to $82.50 and gave the stock a “buy” rating in a report on Friday, November 1st. Five 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $79.81.

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.