First American Bank Acquires 13,824 Shares of Entergy Corporation (NYSE:ETR)

First American Bank grew its position in Entergy Corporation (NYSE:ETR) by 102.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 27,356 shares of the utilities provider’s stock after acquiring an additional 13,824 shares during the period. First American Bank’s holdings in Entergy were worth $2,074,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. OneDigital Investment Advisors LLC raised its position in Entergy by 2.1% in the third 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 during the last quarter. Acropolis Investment Management LLC increased its stake in shares of Entergy by 0.8% in the third quarter. Acropolis Investment Management LLC now owns 8,836 shares of the utilities provider’s stock valued at $1,163,000 after buying an additional 69 shares during the period. Great Valley Advisor Group Inc. raised its holdings in Entergy by 0.9% in 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 buying an additional 74 shares during the last quarter. Prossimo Advisors LLC boosted its position in Entergy by 1.5% during the 3rd quarter. Prossimo Advisors LLC now owns 5,971 shares of the utilities provider’s stock worth $786,000 after buying an additional 90 shares during the period. Finally, Brown Brothers Harriman & Co. increased its position in Entergy by 1.3% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 7,233 shares of the utilities provider’s stock valued at $952,000 after acquiring an additional 91 shares during the period. Institutional investors and hedge funds own 88.07% of the company’s stock.

Insider Activity

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 completion of the sale, the insider now owns 3,952 shares in the company, valued at $292,210.88. This trade represents a 60.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Guggenheim lifted their price target on shares of Entergy from $72.50 to $82.50 and gave the stock a “buy” rating in a report on Friday, November 1st. Barclays lifted their price objective on Entergy from $68.50 to $76.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. LADENBURG THALM/SH SH upgraded shares of Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price target on the stock in a research report on Thursday, January 30th. Wells Fargo & Company increased their price objective on shares of Entergy from $85.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Finally, Scotiabank dropped their target price on shares of Entergy from $165.00 to $82.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 7th. Six 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $82.14.

Entergy Trading Down 1.0 %

ETR opened at $85.26 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 firm has a market capitalization of $36.70 billion, a PE ratio of 35.02, a P/E/G ratio of 2.34 and a beta of 0.72. The company’s 50-day moving average is $80.35 and its 200 day moving average is $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 released its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $3.24 billion. During the same period in the previous year, the company earned $0.26 earnings per share. As a group, research analysts predict that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 10th will be given a $0.60 dividend. The ex-dividend date is Monday, February 10th. This represents a $2.40 annualized dividend and a yield of 2.81%. Entergy’s dividend payout ratio is currently 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.