Mn Services Vermogensbeheer B.V. Raises Stock Position in Entergy Corporation (NYSE:ETR)

Mn Services Vermogensbeheer B.V. boosted its holdings in Entergy Corporation (NYSE:ETR) by 107.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 73,800 shares of the utilities provider’s stock after purchasing an additional 38,200 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Entergy were worth $5,596,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new stake in Entergy in the 3rd quarter worth $27,000. Coastline Trust Co purchased a new position in shares of Entergy during the third quarter valued at about $31,000. Ashton Thomas Securities LLC purchased a new position in shares of Entergy during the third quarter valued at about $42,000. Fortis Group Advisors LLC grew its position in shares of Entergy by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 172 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of Entergy during the third quarter valued at about $51,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ETR shares. 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 report on Wednesday, February 19th. Evercore ISI raised their price objective on Entergy from $75.00 to $86.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. Scotiabank cut their price objective on Entergy from $165.00 to $82.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 7th. LADENBURG THALM/SH SH upgraded Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price objective for the company in a research report on Thursday, January 30th. Finally, Mizuho increased their price target on shares of Entergy from $69.00 to $82.50 and gave the company an “outperform” rating in a report on Monday, November 4th. Six equities research 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, Entergy presently has an average rating of “Moderate Buy” and an average price target of $82.14.

Insiders Place Their Bets

In other news, insider Deanna D. Rodriguez sold 6,088 shares of the firm’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 transaction of $450,146.72. Following the transaction, the insider now directly owns 3,952 shares of the company’s stock, valued at approximately $292,210.88. This trade represents a 60.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.39% of the stock is owned by insiders.

Entergy Stock Up 2.4 %

Shares of NYSE ETR opened at $87.29 on Friday. 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 cap of $37.57 billion, a P/E ratio of 35.85, a PEG ratio of 2.34 and a beta of 0.72. Entergy Corporation has a 1 year low of $49.80 and a 1 year high of $88.38. The firm has a 50-day simple moving average of $80.59 and a two-hundred day simple moving average of $72.53.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.03. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $3.24 billion. Entergy had a net margin of 8.90% and a return on equity of 10.68%. During the same quarter last year, the firm earned $0.26 earnings per share. Research analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current 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 paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.75%. The ex-dividend date is Monday, February 10th. Entergy’s payout ratio is currently 98.77%.

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.