Spirit of America Management Corp NY Buys 11,150 Shares of Entergy Corporation (NYSE:ETR)

Spirit of America Management Corp NY boosted its stake in shares of Entergy Corporation (NYSE:ETR) by 123.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,200 shares of the utilities provider’s stock after buying an additional 11,150 shares during the period. Spirit of America Management Corp NY’s holdings in Entergy were worth $1,532,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ETR. Thrivent Financial for Lutherans boosted its stake in shares of Entergy by 21.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 986,546 shares of the utilities provider’s stock worth $129,840,000 after buying an additional 174,093 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Entergy by 40.7% in the 3rd quarter. Empowered Funds LLC now owns 18,597 shares of the utilities provider’s stock worth $2,448,000 after buying an additional 5,381 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Entergy by 4.0% in the 3rd quarter. Principal Financial Group Inc. now owns 280,262 shares of the utilities provider’s stock worth $36,885,000 after buying an additional 10,697 shares during the last quarter. Ausbil Investment Management Ltd boosted its stake in shares of Entergy by 11.4% in the 3rd quarter. Ausbil Investment Management Ltd now owns 97,218 shares of the utilities provider’s stock worth $12,795,000 after buying an additional 9,986 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC purchased a new position in shares of Entergy in the 3rd quarter worth $32,541,000. Institutional investors own 88.07% of the company’s stock.

Entergy Stock Down 0.5 %

Entergy stock opened at $81.66 on Wednesday. The business has a fifty day moving average of $77.34 and a two-hundred day moving average of $69.08. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 1.77. The firm 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. Entergy Corporation has a twelve month low of $48.08 and a twelve month high of $84.26.

Entergy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 10th will be issued a dividend of $0.60 per share. The ex-dividend date is Monday, February 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.94%. Entergy’s dividend payout ratio is currently 58.47%.

Insiders Place Their Bets

In other news, insider Haley Fisackerly sold 8,268 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $74.52, for a total transaction of $616,090.02. Following the transaction, the insider now directly owns 4,032 shares of the company’s stock, valued at approximately $300,444.48. This represents a 67.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Deanna D. Rodriguez sold 6,088 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $73.94, for a total value of $450,146.72. Following the transaction, the insider now directly owns 3,952 shares in the company, valued at approximately $292,210.88. The trade was a 60.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is owned by company insiders.

Analysts Set New Price Targets

ETR has been the topic of several analyst reports. Morgan Stanley upgraded Entergy from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $58.00 to $75.00 in a research report on Monday, November 4th. Guggenheim lifted their target price on Entergy from $72.50 to $82.50 and gave the company a “buy” rating in a research report on Friday, November 1st. Wells Fargo & Company boosted their price objective on Entergy from $68.50 to $85.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. KeyCorp downgraded Entergy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. Finally, Mizuho boosted their price objective on Entergy from $69.00 to $82.50 and gave the company an “outperform” rating in a research report on Monday, November 4th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $79.81.

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.