Deseret Mutual Benefit Administrators Buys 421 Shares of Entergy Corporation (NYSE:ETR)

Deseret Mutual Benefit Administrators increased its stake in Entergy Corporation (NYSE:ETR) by 100.0% during the fourth quarter, Holdings Channel reports. The firm owned 842 shares of the utilities provider’s stock after acquiring an additional 421 shares during the period. Deseret Mutual Benefit Administrators’ holdings in Entergy were worth $64,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of ETR. Franklin Resources Inc. increased its position in shares of Entergy by 53.0% in 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 shares of Entergy by 139.5% in the fourth quarter. Jennison Associates LLC now owns 2,423,556 shares of the utilities provider’s stock worth $183,754,000 after purchasing an additional 1,411,473 shares during the period. JPMorgan Chase & Co. increased its position in shares of Entergy by 60.6% in the third quarter. JPMorgan Chase & Co. now owns 3,589,727 shares of the utilities provider’s stock worth $472,444,000 after purchasing an additional 1,354,355 shares during the period. Truist Financial Corp boosted its stake in Entergy by 105.0% in the fourth quarter. Truist Financial Corp now owns 2,072,950 shares of the utilities provider’s stock valued at $157,171,000 after buying an additional 1,061,527 shares in the last quarter. Finally, Confluence Investment Management LLC boosted its stake in Entergy by 96.0% in the fourth quarter. Confluence Investment Management LLC now owns 1,607,273 shares of the utilities provider’s stock valued at $121,863,000 after buying an additional 787,367 shares in the last quarter. Institutional investors own 88.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ETR. Barclays raised their price objective on Entergy from $68.50 to $76.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. UBS Group raised their price objective on Entergy from $72.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Morgan Stanley raised Entergy from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $58.00 to $75.00 in a research note on Monday, November 4th. Scotiabank reduced their price objective on 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, Wells Fargo & Company raised their price objective on Entergy from $85.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $82.14.

Entergy Price Performance

Shares of ETR opened at $84.94 on Friday. Entergy Corporation has a 1 year low of $49.80 and a 1 year high of $88.38. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.72 and a quick ratio of 0.59. The company has a market capitalization of $36.56 billion, a price-to-earnings ratio of 34.88, a price-to-earnings-growth ratio of 2.34 and a beta of 0.72. The business has a 50-day moving average of $79.45 and a 200-day moving average of $71.49.

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

Entergy Announces Dividend

The business 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 dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.83%. Entergy’s dividend payout ratio (DPR) is 98.56%.

Insider Transactions at Entergy

In other Entergy news, insider Deanna D. Rodriguez sold 6,088 shares of Entergy stock in a transaction that occurred on Friday, December 13th. The stock was 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 directly owns 3,952 shares in the company, valued at approximately $292,210.88. The trade was a 60.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.