Exchange Traded Concepts LLC grew its position in Entergy Corporation (NYSE:ETR – Free Report) by 97.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 16,499 shares of the utilities provider’s stock after purchasing an additional 8,131 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Entergy were worth $1,251,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in ETR. Legacy Investment Solutions LLC bought a new stake in shares of Entergy during the 3rd quarter valued at approximately $27,000. Cetera Trust Company N.A bought a new stake in shares of Entergy during the 3rd quarter valued at approximately $29,000. Fortitude Family Office LLC grew its holdings in shares of Entergy by 423.8% during the 3rd quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 178 shares during the last quarter. IFS Advisors LLC bought a new stake in shares of Entergy during the 4th quarter valued at approximately $30,000. Finally, Ulland Investment Advisors LLC grew its holdings in shares of Entergy by 100.0% during the 4th quarter. Ulland Investment Advisors LLC now owns 400 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 200 shares during the last quarter. 88.07% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the stock. Morgan Stanley raised shares of Entergy from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $58.00 to $75.00 in a report on Monday, November 4th. Bank of America lowered shares of Entergy from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $69.00 to $77.00 in a report on Monday, November 4th. StockNews.com raised shares of Entergy from a “sell” rating to a “hold” rating in a report on Sunday, December 29th. Mizuho boosted their target price on shares of Entergy from $69.00 to $82.50 and gave the stock an “outperform” rating in a report on Monday, November 4th. Finally, UBS Group upped their price objective on shares of Entergy from $72.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $77.37.
Entergy Stock Performance
ETR opened at $79.43 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 1.77. The company’s fifty day moving average price is $76.93 and its two-hundred day moving average price is $68.34. Entergy Corporation has a 1-year low of $48.08 and a 1-year high of $84.26. The company has a market cap of $34.06 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 2.54 and a beta of 0.71.
Entergy (NYSE:ETR – Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The utilities provider reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.04. Entergy had a net margin of 14.83% and a return on equity of 9.53%. The firm had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter in the prior year, the company posted $1.64 earnings per share. On average, analysts expect that Entergy Corporation will post 3.59 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, insider Deanna D. Rodriguez sold 6,088 shares of the 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 represents a 60.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Haley Fisackerly sold 8,268 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $74.52, for a total transaction of $616,090.02. Following the transaction, 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. Over the last 90 days, insiders have sold 14,756 shares of company stock worth $1,095,637. Insiders own 0.39% of the company’s stock.
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.
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