Bank OZK Purchases 3,965 Shares of Entergy Corporation (NYSE:ETR)

Bank OZK raised its stake in Entergy Corporation (NYSE:ETR - Free Report) by 100.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,930 shares of the utilities provider's stock after buying an additional 3,965 shares during the period. Bank OZK's holdings in Entergy were worth $601,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Private Advisor Group LLC boosted its holdings in shares of Entergy by 51.2% in the third quarter. Private Advisor Group LLC now owns 9,551 shares of the utilities provider's stock worth $1,257,000 after buying an additional 3,233 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Entergy by 34.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,806 shares of the utilities provider's stock valued at $1,810,000 after purchasing an additional 3,507 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Entergy by 19.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 29,174 shares of the utilities provider's stock worth $3,840,000 after buying an additional 4,747 shares during the period. Pallas Capital Advisors LLC grew its holdings in shares of Entergy by 33.2% during the third quarter. Pallas Capital Advisors LLC now owns 3,301 shares of the utilities provider's stock valued at $454,000 after buying an additional 822 shares in the last quarter. Finally, abrdn plc raised its position in Entergy by 1.9% during the third quarter. abrdn plc now owns 107,966 shares of the utilities provider's stock valued at $14,200,000 after buying an additional 1,984 shares during the period. Institutional investors and hedge funds own 88.07% of the company's stock.

Wall Street Analyst Weigh In

ETR has been the topic of several research analyst reports. Barclays lifted their target price on Entergy from $68.50 to $76.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. BMO Capital Markets upped their price objective on shares of Entergy from $79.00 to $94.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. KeyCorp lowered shares of Entergy from an "overweight" rating to a "sector weight" rating in a research note on Wednesday, December 4th. Scotiabank dropped their price target 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. Finally, StockNews.com upgraded Entergy from a "sell" rating to a "hold" rating in a report on Sunday, December 29th. Six 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 company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $82.14.

Entergy Stock Performance

Shares of NYSE:ETR traded down $0.40 during trading on Wednesday, reaching $84.69. The stock had a trading volume of 2,228,900 shares, compared to its average volume of 3,208,491. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 1.81. The stock has a fifty day simple moving average of $81.02 and a two-hundred day simple moving average of $73.02. The firm has a market capitalization of $36.45 billion, a price-to-earnings ratio of 34.78, a P/E/G ratio of 2.34 and a beta of 0.68. Entergy Corporation has a 52 week low of $50.19 and a 52 week high of $88.38.

Entergy (NYSE:ETR - Get Free Report) last announced its earnings results on Tuesday, February 18th. The utilities provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.63 by $0.03. Entergy had a net margin of 8.90% and a return on equity of 10.68%. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter last year, the firm posted $0.26 EPS. As a group, analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 10th were paid a dividend of $0.60 per share. The ex-dividend date was Monday, February 10th. This represents a $2.40 annualized dividend and a yield of 2.83%. Entergy's payout ratio is 98.77%.

Insider Buying and Selling 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 value of $450,146.72. Following the completion of the sale, the insider now directly owns 3,952 shares of the company's stock, valued at $292,210.88. This represents a 60.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.39% of the company's stock.

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.