CORDA Investment Management LLC. Purchases Shares of 14,873 Entergy Corporation (NYSE:ETR)

CORDA Investment Management LLC. acquired a new position in shares of Entergy Corporation (NYSE:ETR) in the fourth quarter, HoldingsChannel reports. The fund acquired 14,873 shares of the utilities provider’s stock, valued at approximately $1,128,000.

Several other large investors have also made changes to their positions in ETR. Private Advisor Group LLC raised its holdings in shares of Entergy by 51.2% in the 3rd quarter. Private Advisor Group LLC now owns 9,551 shares of the utilities provider’s stock worth $1,257,000 after purchasing an additional 3,233 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Entergy by 34.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,806 shares of the utilities provider’s stock worth $1,810,000 after purchasing an additional 3,507 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Entergy by 19.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 29,174 shares of the utilities provider’s stock valued at $3,840,000 after buying an additional 4,747 shares during the period. Pallas Capital Advisors LLC lifted its position in Entergy by 33.2% during the third quarter. Pallas Capital Advisors LLC now owns 3,301 shares of the utilities provider’s stock valued at $454,000 after buying an additional 822 shares in the last quarter. Finally, abrdn plc grew its stake in Entergy by 1.9% during the third quarter. abrdn plc now owns 107,966 shares of the utilities provider’s stock worth $14,200,000 after buying an additional 1,984 shares during the period. 88.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ETR. Wells Fargo & Company lifted their target price on shares of Entergy from $85.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. BMO Capital Markets increased their target price on Entergy from $79.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. LADENBURG THALM/SH SH upgraded Entergy from a “neutral” rating to a “buy” rating and set a $86.50 target price on the stock in a report on Thursday, January 30th. StockNews.com upgraded Entergy from a “sell” rating to a “hold” rating in a research note on Sunday, December 29th. Finally, KeyCorp downgraded shares of Entergy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $82.14.

Insider Activity at Entergy

In other news, insider Deanna D. Rodriguez sold 6,088 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $73.94, for a total transaction of $450,146.72. Following the completion of the transaction, the insider now owns 3,952 shares in the company, 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 link. Company insiders own 0.39% of the company’s stock.

Entergy Stock Performance

ETR stock opened at $85.26 on Friday. The company has a market capitalization of $36.70 billion, a P/E ratio of 35.02, a PEG ratio of 2.34 and a beta of 0.72. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 1.81. The company has a 50-day simple moving average of $80.35 and a 200 day simple moving average of $72.24. Entergy Corporation has a fifty-two week low of $49.80 and a fifty-two week 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 (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.03. Entergy had a net margin of 8.90% and a return on equity of 10.68%. The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $3.24 billion. During the same period last year, the firm posted $0.26 earnings per share. Sell-side analysts predict 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. Stockholders of record on Monday, February 10th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $2.40 annualized dividend and a dividend yield of 2.81%. Entergy’s dividend payout ratio (DPR) is 98.77%.

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.