DAVENPORT & Co LLC Increases Position in Entergy Corporation (NYSE:ETR)

DAVENPORT & Co LLC increased its stake in Entergy Corporation (NYSE:ETR) by 44.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,776 shares of the utilities provider’s stock after purchasing an additional 10,671 shares during the quarter. DAVENPORT & Co LLC’s holdings in Entergy were worth $2,637,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. OneDigital Investment Advisors LLC increased its holdings in shares of Entergy by 2.1% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 3,427 shares of the utilities provider’s stock valued at $451,000 after purchasing an additional 69 shares in the last quarter. Acropolis Investment Management LLC increased its holdings in Entergy by 0.8% during the 3rd quarter. Acropolis Investment Management LLC now owns 8,836 shares of the utilities provider’s stock valued at $1,163,000 after acquiring an additional 69 shares in the last quarter. Great Valley Advisor Group Inc. increased its holdings in Entergy by 0.9% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 8,087 shares of the utilities provider’s stock valued at $1,065,000 after acquiring an additional 74 shares in the last quarter. Bank & Trust Co increased its holdings in Entergy by 12.8% during the 3rd quarter. Bank & Trust Co now owns 795 shares of the utilities provider’s stock valued at $105,000 after acquiring an additional 90 shares in the last quarter. Finally, Prossimo Advisors LLC increased its holdings in Entergy by 1.5% during the 3rd quarter. Prossimo Advisors LLC now owns 5,971 shares of the utilities provider’s stock valued at $786,000 after acquiring an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Entergy Price Performance

ETR opened at $81.66 on Wednesday. The company’s 50 day simple moving average is $77.34 and its 200 day simple moving average is $69.08. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.59 and a current ratio of 0.89. Entergy Corporation has a 1 year low of $48.08 and a 1 year high of $84.26. The stock has a market capitalization of $35.02 billion, a PE ratio of 19.89, a P/E/G ratio of 2.50 and a beta of 0.72.

Entergy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders 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 yield of 2.94%. Entergy’s dividend payout ratio (DPR) is 58.47%.

Insider Activity

In related news, insider Deanna D. Rodriguez sold 6,088 shares of Entergy stock in a transaction 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 sale, the insider now 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Haley Fisackerly sold 8,268 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $74.52, for a total transaction of $616,090.02. Following the sale, the insider now owns 4,032 shares of the company’s stock, valued at approximately $300,444.48. The trade was a 67.22 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on ETR shares. Guggenheim raised their target price on shares of Entergy from $72.50 to $82.50 and gave the company a “buy” rating in a report on Friday, November 1st. Scotiabank dropped their target price on shares of Entergy from $165.00 to $82.00 and set a “sector perform” rating for the company in a report on Tuesday, January 7th. Mizuho raised 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. Bank of America downgraded shares of Entergy from a “buy” rating to a “neutral” rating and raised their target price for the company from $69.00 to $77.00 in a report on Monday, November 4th. Finally, LADENBURG THALM/SH SH upgraded shares of Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price target for the company in a report on Thursday, January 30th. Five 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. According to data from MarketBeat.com, Entergy presently has a consensus rating of “Moderate Buy” and an average price target of $79.81.

Entergy 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.