Jennison Associates LLC Has $183.75 Million Position in Entergy Corporation (NYSE:ETR)

Jennison Associates LLC boosted its stake in shares of Entergy Corporation (NYSE:ETR) by 139.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,423,556 shares of the utilities provider’s stock after acquiring an additional 1,411,473 shares during the period. Jennison Associates LLC owned 0.57% of Entergy worth $183,754,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ETR. Legacy Investment Solutions LLC bought a new position in shares of Entergy in the third quarter worth $27,000. Cetera Trust Company N.A acquired a new stake in Entergy during the third quarter worth about $29,000. Fortitude Family Office LLC grew its stake in Entergy by 423.8% during the third quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock worth $29,000 after buying an additional 178 shares in the last quarter. IFS Advisors LLC bought a new position in Entergy in the 4th quarter valued at about $30,000. Finally, Ulland Investment Advisors LLC raised its position in shares of Entergy by 100.0% in the 4th 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 in the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. StockNews.com raised shares of Entergy from a “sell” rating to a “hold” rating in a research note on Sunday, December 29th. UBS Group boosted their price target on Entergy from $72.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Bank of America lowered Entergy from a “buy” rating to a “neutral” rating and raised their price objective for the company from $69.00 to $77.00 in a research note on Monday, November 4th. Wells Fargo & Company boosted their target price on Entergy from $68.50 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, Guggenheim raised their price target on shares of Entergy from $72.50 to $82.50 and gave the company a “buy” rating in a research note on Friday, November 1st. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $79.81.

Insider Buying and Selling at Entergy

In other Entergy news, insider Haley Fisackerly sold 8,268 shares of Entergy stock in a transaction that occurred on Tuesday, November 12th. The stock was 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 directly owns 4,032 shares in the company, valued at approximately $300,444.48. The trade was a 67.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Deanna D. Rodriguez sold 6,088 shares of the business’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 value of $450,146.72. Following the completion of the transaction, the insider now directly owns 3,952 shares in the company, valued at approximately $292,210.88. This trade represents a 60.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,756 shares of company stock valued at $1,095,637. 0.54% of the stock is currently owned by company insiders.

Entergy Price Performance

ETR stock opened at $81.17 on Monday. 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 52-week low of $48.08 and a 52-week high of $84.26. The company has a market capitalization of $34.81 billion, a P/E ratio of 19.77, a PEG ratio of 2.50 and a beta of 0.72. The company has a fifty day moving average price of $77.23 and a 200-day moving average price of $68.90.

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

Entergy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 10th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.96%. Entergy’s payout ratio is presently 58.47%.

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.