Exchange Traded Concepts LLC Purchases 8,131 Shares of Entergy Corporation (NYSE:ETR)

Exchange Traded Concepts LLC grew its position in shares of Entergy Corporation (NYSE:ETR) by 97.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,499 shares of the utilities provider’s stock after buying an additional 8,131 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Entergy were worth $1,251,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new position in Entergy in the third quarter valued at approximately $27,000. Cetera Trust Company N.A acquired a new position in Entergy in the third quarter valued at approximately $29,000. Fortitude Family Office LLC lifted its holdings in Entergy by 423.8% in the third quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock valued at $29,000 after buying an additional 178 shares during the period. IFS Advisors LLC acquired a new position in Entergy in the fourth quarter valued at approximately $30,000. Finally, Ulland Investment Advisors LLC lifted its holdings in Entergy by 100.0% in the fourth quarter. Ulland Investment Advisors LLC now owns 400 shares of the utilities provider’s stock valued at $30,000 after buying an additional 200 shares during the period. 88.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ETR shares. Wells Fargo & Company increased their target price on shares of Entergy from $68.50 to $85.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. StockNews.com upgraded shares of Entergy from a “sell” rating to a “hold” rating in a report on Sunday, December 29th. Royal Bank of Canada raised their price objective on shares of Entergy from $68.50 to $70.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. 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 research report on Monday, November 4th. Finally, Guggenheim raised their target price on shares of Entergy from $72.50 to $82.50 and gave the company a “buy” rating in a research report on Friday, November 1st. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $77.37.

Entergy Stock Performance

Shares of ETR opened at $79.43 on Thursday. The firm has a 50-day moving average of $76.93 and a 200-day moving average of $68.34. Entergy Corporation has a one year low of $48.08 and a one year high of $84.26. The company has a market cap of $34.06 billion, a PE ratio of 19.35, a price-to-earnings-growth ratio of 2.54 and a beta of 0.71. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.89 and a quick ratio of 0.59.

Entergy (NYSE:ETR) last posted its earnings results on Thursday, October 31st. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.04. The company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.46 billion. Entergy had a net margin of 14.83% and a return on equity of 9.53%. During the same quarter last year, the company posted $1.64 EPS. As a group, equities analysts forecast that Entergy Corporation will post 3.59 earnings per share for the current year.

Insider Transactions at Entergy

In other Entergy news, insider Haley Fisackerly sold 8,268 shares of Entergy stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $74.52, for a total value of $616,090.02. Following the completion of the sale, the insider now owns 4,032 shares in the company, valued at $300,444.48. The trade was a 67.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Deanna D. Rodriguez sold 6,088 shares of Entergy stock in a transaction dated Friday, December 13th. The stock was 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 of the company’s stock, valued at $292,210.88. This trade represents a 60.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,756 shares of company stock worth $1,095,637. 0.39% of the stock is owned by insiders.

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.