Cidel Asset Management Inc. Buys 1,895 Shares of Entergy Corporation (NYSE:ETR)

Cidel Asset Management Inc. raised its stake in Entergy Corporation (NYSE:ETR) by 100.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,790 shares of the utilities provider’s stock after buying an additional 1,895 shares during the period. Cidel Asset Management Inc.’s holdings in Entergy were worth $287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of ETR. Legacy Investment Solutions LLC purchased a new stake in Entergy in the third quarter worth about $27,000. Cetera Trust Company N.A purchased a new position in Entergy in the third quarter valued at about $29,000. Fortitude Family Office LLC raised its holdings in Entergy by 423.8% in the third quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 178 shares in the last quarter. IFS Advisors LLC purchased a new position in shares of Entergy in the 4th quarter worth approximately $30,000. Finally, Ulland Investment Advisors LLC boosted its stake in Entergy by 100.0% in the fourth quarter. Ulland Investment Advisors LLC now owns 400 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 200 shares in the last quarter. Institutional investors own 88.07% of the company’s stock.

Insider Activity

In other news, insider Deanna D. Rodriguez sold 6,088 shares of the stock in a transaction dated 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 owns 3,952 shares in the company, valued at approximately $292,210.88. This represents a 60.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Haley Fisackerly sold 8,268 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 4,032 shares of the company’s stock, valued at $300,444.48. This represents a 67.22 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.39% of the company’s stock.

Entergy Price Performance

Entergy stock opened at $82.37 on Friday. 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’s 50 day simple moving average is $77.68 and its 200-day simple moving average is $69.64. Entergy Corporation has a 1 year low of $48.08 and a 1 year high of $84.26. The company has a market capitalization of $35.32 billion, a price-to-earnings ratio of 20.07, a price-to-earnings-growth ratio of 2.53 and a beta of 0.72.

Entergy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 10th will be given a $0.60 dividend. The ex-dividend date is Monday, February 10th. This represents a $2.40 annualized dividend and a yield of 2.91%. Entergy’s dividend payout ratio is presently 58.47%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. BMO Capital Markets dropped their target price on Entergy from $83.00 to $79.50 and set an “outperform” rating on the stock in a research note on Monday, November 18th. LADENBURG THALM/SH SH upgraded Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price target on the stock in a research note on Thursday, January 30th. StockNews.com raised shares of Entergy from a “sell” rating to a “hold” rating in a report on Sunday, December 29th. Morgan Stanley raised Entergy from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $58.00 to $75.00 in a report on Monday, November 4th. Finally, KeyCorp cut Entergy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.