Peregrine Asset Advisers Inc. acquired a new stake in shares of Entergy Corporation (NYSE:ETR – Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 42,667 shares of the utilities provider’s stock, valued at approximately $4,794,000. Entergy makes up about 1.3% of Peregrine Asset Advisers Inc.’s holdings, making the stock its 24th biggest holding.
Several other institutional investors and hedge funds have also recently bought and sold shares of ETR. Nordea Investment Management AB raised its holdings in shares of Entergy by 66.0% during the fourth quarter. Nordea Investment Management AB now owns 800,258 shares of the utilities provider’s stock worth $74,512,000 after purchasing an additional 318,221 shares during the period. Tounjian Advisory Partners LLC acquired a new position in shares of Entergy in the 4th quarter valued at about $1,473,000. World Investment Advisors grew its position in shares of Entergy by 170.6% during the 4th quarter. World Investment Advisors now owns 60,579 shares of the utilities provider’s stock valued at $5,303,000 after buying an additional 38,195 shares during the last quarter. Caliber Wealth Management LLC KS bought a new stake in shares of Entergy during the 4th quarter valued at about $2,404,000. Finally, Phoenix Wealth Advisors acquired a new stake in Entergy during the fourth quarter worth about $1,502,000. Institutional investors and hedge funds own 88.07% of the company’s stock.
Entergy Price Performance
Shares of ETR opened at $115.00 on Friday. Entergy Corporation has a one year low of $80.11 and a one year high of $118.44. The stock’s fifty day moving average is $112.03 and its 200-day moving average is $105.34. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.73 and a current ratio of 0.96. The firm has a market capitalization of $52.66 billion, a price-to-earnings ratio of 29.34, a price-to-earnings-growth ratio of 1.93 and a beta of 0.50.
Entergy Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 1st were paid a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, May 1st. Entergy’s dividend payout ratio is currently 65.31%.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on ETR. KeyCorp restated an “overweight” rating and issued a $123.00 target price (up from $118.00) on shares of Entergy in a research note on Tuesday, April 21st. Seaport Research Partners cut Entergy from a “buy” rating to a “neutral” rating in a research report on Monday, April 20th. Mizuho set a $122.00 price target on Entergy and gave the stock an “outperform” rating in a report on Wednesday, June 10th. Morgan Stanley set a $94.00 price objective on Entergy in a research report on Thursday, May 21st. Finally, Weiss Ratings upgraded Entergy from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, May 14th. Seventeen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $119.68.
Get Our Latest Analysis on ETR
Insider Activity
In other news, insider Haley Fisackerly sold 10,638 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $110.00, for a total value of $1,170,180.00. Following the completion of the transaction, the insider directly owned 14,182 shares in the company, valued at $1,560,020. This trade represents a 42.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.21% of the stock is owned by company insiders.
About Entergy
Entergy Corporation (NYSE:ETR) is an integrated energy company headquartered in New Orleans, Louisiana, that generates, transmits and distributes electricity. The company’s operations combine regulated utility services with competitive power production, supplying retail electricity to residential, commercial and industrial customers while also participating in wholesale energy markets. Entergy’s generation fleet includes nuclear, natural gas, hydropower and other resources, and it operates a network of transmission and distribution assets to deliver power to end users.
Entergy conducts its regulated utility business through state-based operating subsidiaries that serve customers across parts of Arkansas, Louisiana, Mississippi and southeast Texas.
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