Trinity Legacy Partners LLC Makes New Investment in Entergy Corporation (NYSE:ETR)

Trinity Legacy Partners LLC purchased a new stake in shares of Entergy Corporation (NYSE:ETR) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,808 shares of the utilities provider’s stock, valued at approximately $213,000.

Several other institutional investors also recently modified their holdings of ETR. Legacy Investment Solutions LLC purchased a new stake in shares of Entergy during the 3rd quarter valued at about $27,000. Fortitude Family Office LLC boosted 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 during the last quarter. Coastline Trust Co bought a new stake in Entergy in the 3rd quarter worth approximately $31,000. Ashton Thomas Securities LLC bought a new position in Entergy in the third quarter valued at about $42,000. Finally, Fortis Group Advisors LLC grew its position in Entergy by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider’s stock valued at $26,000 after buying an additional 172 shares during the period. 88.07% of the stock is owned by hedge funds and other institutional investors.

Entergy Stock Down 1.7 %

Shares of ETR stock opened at $85.82 on Friday. The stock’s fifty day moving average price is $79.01 and its 200 day moving average price is $71.19. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.72 and a quick ratio of 0.59. Entergy Corporation has a 1-year low of $49.80 and a 1-year high of $88.38. The company has a market cap of $36.94 billion, a price-to-earnings ratio of 35.24, a price-to-earnings-growth ratio of 2.66 and a beta of 0.72.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.03. The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $3.24 billion. Entergy had a return on equity of 10.68% and a net margin of 8.90%. During the same period last year, the business posted $0.26 earnings per share. On average, research analysts expect that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders 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 yield of 2.80%. Entergy’s payout ratio is 98.56%.

Insider Transactions at Entergy

In other Entergy news, insider Deanna D. Rodriguez sold 6,088 shares of the 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 transaction, the insider now directly owns 3,952 shares of the company’s stock, valued at $292,210.88. This trade represents a 60.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on ETR. Guggenheim boosted their price target on Entergy from $72.50 to $82.50 and gave the company a “buy” rating in a report on Friday, November 1st. Barclays boosted their price objective on Entergy from $68.50 to $76.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Wells Fargo & Company increased their target price on Entergy from $85.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday. LADENBURG THALM/SH SH raised Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price target on the stock in a report on Thursday, January 30th. Finally, Bank of America lowered shares of Entergy from a “buy” rating to a “neutral” rating and increased their price objective for the company from $69.00 to $77.00 in a report on Monday, November 4th. Six 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $82.14.

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.