Conning Inc. Takes $219,000 Position in Entergy Corporation (NYSE:ETR)

Conning Inc. purchased a new stake in Entergy Corporation (NYSE:ETR) in the 4th quarter, Holdings Channel reports. The firm purchased 2,888 shares of the utilities provider’s stock, valued at approximately $219,000.

A number of other institutional investors have also recently bought and sold shares of ETR. OneDigital Investment Advisors LLC increased its stake in Entergy by 2.1% during the third quarter. OneDigital Investment Advisors LLC now owns 3,427 shares of the utilities provider’s stock worth $451,000 after acquiring an additional 69 shares during the last quarter. Acropolis Investment Management LLC increased its position in Entergy by 0.8% during the 3rd quarter. Acropolis Investment Management LLC now owns 8,836 shares of the utilities provider’s stock worth $1,163,000 after purchasing an additional 69 shares in the last quarter. Great Valley Advisor Group Inc. raised its holdings in Entergy by 0.9% in the third quarter. Great Valley Advisor Group Inc. now owns 8,087 shares of the utilities provider’s stock valued at $1,065,000 after buying an additional 74 shares during the period. Prossimo Advisors LLC lifted its position in Entergy by 1.5% during the third quarter. Prossimo Advisors LLC now owns 5,971 shares of the utilities provider’s stock valued at $786,000 after buying an additional 90 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its stake in Entergy by 1.3% during the third quarter. Brown Brothers Harriman & Co. now owns 7,233 shares of the utilities provider’s stock worth $952,000 after buying an additional 91 shares during the period. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Scotiabank cut their target price on shares of Entergy from $165.00 to $82.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 7th. Bank of America downgraded Entergy from a “buy” rating to a “neutral” rating and upped their target price for the stock from $69.00 to $77.00 in a research report on Monday, November 4th. Barclays raised their target price on Entergy from $68.50 to $76.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Guggenheim increased 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, StockNews.com upgraded shares of Entergy from a “sell” rating to a “hold” rating in a research note on Sunday, December 29th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $79.81.

Insider Buying and Selling at Entergy

In other Entergy news, insider Deanna D. Rodriguez sold 6,088 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $73.94, for a total transaction of $450,146.72. Following the completion of the sale, the insider now owns 3,952 shares in the company, valued at $292,210.88. The trade was a 60.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Haley Fisackerly sold 8,268 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $74.52, for a total transaction of $616,090.02. Following the completion of the transaction, the insider now 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 disclosure for this sale can be found here. 0.39% of the stock is currently owned by insiders.

Entergy Price Performance

Shares of ETR stock opened at $82.37 on Monday. The firm has a market cap of $35.32 billion, a P/E ratio of 20.07, a P/E/G ratio of 2.53 and a beta of 0.72. The firm has a fifty day moving average of $77.68 and a two-hundred day moving average of $69.74. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.89 and a quick ratio of 0.59. Entergy Corporation has a 1-year low of $48.08 and a 1-year high of $84.26.

Entergy Dividend Announcement

The company also recently disclosed 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 2.91%. The ex-dividend date of this dividend is Monday, February 10th. Entergy’s dividend payout ratio is currently 58.47%.

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.