Concurrent Investment Advisors LLC Boosts Stock Position in Entergy Corporation (NYSE:ETR)

Concurrent Investment Advisors LLC boosted its holdings in Entergy Corporation (NYSE:ETR) by 88.9% during the 4th quarter, Holdings Channel reports. The firm owned 10,172 shares of the utilities provider’s stock after acquiring an additional 4,787 shares during the period. Concurrent Investment Advisors LLC’s holdings in Entergy were worth $771,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Wealth Alliance increased its holdings in Entergy by 32.5% during the fourth quarter. Wealth Alliance now owns 10,957 shares of the utilities provider’s stock worth $831,000 after buying an additional 2,686 shares during the last quarter. LMG Wealth Partners LLC grew its position in shares of Entergy by 100.0% during the 4th quarter. LMG Wealth Partners LLC now owns 17,710 shares of the utilities provider’s stock valued at $1,343,000 after acquiring an additional 8,855 shares during the period. Private Advisor Group LLC raised its holdings in shares of Entergy by 93.2% in the 4th quarter. Private Advisor Group LLC now owns 18,454 shares of the utilities provider’s stock worth $1,399,000 after purchasing an additional 8,903 shares during the period. Global Retirement Partners LLC lifted its stake in Entergy by 109.4% in the fourth quarter. Global Retirement Partners LLC now owns 15,974 shares of the utilities provider’s stock valued at $1,211,000 after purchasing an additional 8,345 shares during the last quarter. Finally, Convergence Investment Partners LLC bought a new position in Entergy during the fourth quarter valued at $1,108,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Insider Transactions at Entergy

In other Entergy 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.39% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on ETR shares. Barclays boosted their target price on Entergy from $68.50 to $76.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Mizuho lifted their price objective on Entergy from $69.00 to $82.50 and gave the stock an “outperform” rating in a report on Monday, November 4th. LADENBURG THALM/SH SH raised Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price objective for the company in a report on Thursday, January 30th. Wells Fargo & Company lifted their target price on shares of Entergy from $85.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Finally, Guggenheim lifted their target price on shares of Entergy from $72.50 to $82.50 and gave the stock a “buy” rating in a research note on Friday, November 1st. Six equities research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $82.14.

Entergy Price Performance

Shares of NYSE:ETR opened at $84.94 on Monday. The company has a 50 day moving average of $79.45 and a 200 day moving average of $71.67. The stock has a market cap of $36.56 billion, a P/E ratio of 34.88, a P/E/G ratio of 2.34 and a beta of 0.72. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 1.81. Entergy Corporation has a 12 month low of $49.80 and a 12 month high of $88.38.

Entergy (NYSE:ETR) last released its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.66 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $3.24 billion. During the same period in the previous year, the business earned $0.26 EPS. As a group, sell-side analysts forecast that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Dividend Announcement

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 issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Monday, February 10th. Entergy’s payout ratio is 98.56%.

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.