Groesbeck Investment Management Corp NJ Acquires Shares of 9,580 Entergy Corporation (NYSE:ETR)

Groesbeck Investment Management Corp NJ acquired a new stake in shares of Entergy Corporation (NYSE:ETR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,580 shares of the utilities provider’s stock, valued at approximately $726,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new stake in shares of Entergy during the third quarter valued at $27,000. Cetera Trust Company N.A purchased a new position in Entergy in the third quarter worth about $29,000. Fortitude Family Office LLC grew its stake 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 period. IFS Advisors LLC purchased a new stake in shares of Entergy during the 4th quarter valued at about $30,000. Finally, Ulland Investment Advisors LLC lifted its stake 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 worth $30,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Insider Transactions at Entergy

In related 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 transaction 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. This trade represents a 67.22 % decrease in their position. The sale was disclosed in a filing with the SEC, 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 shares were sold at an average price of $73.94, for a total transaction of $450,146.72. Following the sale, the insider now owns 3,952 shares of the company’s stock, valued at $292,210.88. The trade was a 60.64 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Bank of America cut shares of Entergy from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $69.00 to $77.00 in a research note on Monday, November 4th. UBS Group boosted their price objective on shares of Entergy from $72.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Barclays boosted their price objective on shares of Entergy from $68.50 to $76.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Guggenheim boosted their price objective 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. Finally, LADENBURG THALM/SH SH raised shares of Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price objective for the company in a research report on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.81.

Entergy Stock Performance

Shares of NYSE ETR opened at $81.66 on Wednesday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.59 and a current ratio of 0.89. The company has a market cap of $35.02 billion, a P/E ratio of 19.89, a P/E/G ratio of 2.50 and a beta of 0.72. The firm’s fifty day moving average is $77.34 and its two-hundred day moving average is $69.08. Entergy Corporation has a 52-week low of $48.08 and a 52-week high of $84.26.

Entergy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.94%. Entergy’s dividend payout ratio (DPR) is presently 58.47%.

About Entergy

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.