Jennison Associates LLC Purchases 198,391 Shares of Entergy Co. (NYSE:ETR)

Jennison Associates LLC increased its position in shares of Entergy Co. (NYSE:ETR - Free Report) by 24.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,012,083 shares of the utilities provider's stock after acquiring an additional 198,391 shares during the quarter. Jennison Associates LLC owned 0.47% of Entergy worth $133,200,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ETR. Iron Horse Wealth Management LLC purchased a new position in shares of Entergy during the second quarter valued at $25,000. Cetera Trust Company N.A purchased a new stake in shares of Entergy in the third quarter worth approximately $29,000. Fortitude Family Office LLC boosted its holdings in shares of Entergy by 423.8% during 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 period. American National Bank grew its position in Entergy by 93.7% during the second quarter. American National Bank now owns 277 shares of the utilities provider's stock valued at $30,000 after purchasing an additional 134 shares in the last quarter. Finally, Coastline Trust Co acquired a new position in Entergy in the 3rd quarter valued at approximately $31,000. Hedge funds and other institutional investors own 88.07% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on ETR. KeyCorp increased their price objective on Entergy from $143.00 to $162.00 and gave the stock an "overweight" rating in a report on Friday, November 1st. UBS Group upped their price target on Entergy from $143.00 to $144.00 and gave the company a "buy" rating in a report on Friday, September 20th. Mizuho lifted their price objective on Entergy from $138.00 to $165.00 and gave the stock an "outperform" rating in a report on Monday, November 4th. Guggenheim raised their target price on Entergy from $145.00 to $165.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Entergy from $131.00 to $141.00 and gave the company an "overweight" rating in a research note on Monday, August 12th. Five equities research 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 stock. According to MarketBeat, Entergy currently has an average rating of "Moderate Buy" and a consensus price target of $150.42.

Insider Activity

In other Entergy news, CEO Andrew S. Marsh sold 600 shares of the firm's stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $120.03, for a total value of $72,018.00. Following the completion of the transaction, the chief executive officer now directly owns 150,731 shares in the company, valued at $18,092,241.93. This trade represents a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Haley Fisackerly sold 4,134 shares of the business's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $149.03, for a total transaction of $616,090.02. Following the transaction, the insider now owns 2,016 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. Insiders have sold a total of 40,472 shares of company stock worth $5,076,328 over the last three months. Corporate insiders own 0.54% of the company's stock.

Entergy Trading Up 0.7 %

Entergy stock traded up $1.10 during mid-day trading on Wednesday, hitting $150.99. The stock had a trading volume of 1,253,350 shares, compared to its average volume of 1,611,481. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 1.77. The stock has a market capitalization of $32.37 billion, a PE ratio of 18.25, a P/E/G ratio of 2.49 and a beta of 0.71. The stock has a 50-day simple moving average of $136.12 and a two-hundred day simple moving average of $120.78. Entergy Co. has a 12 month low of $96.15 and a 12 month high of $156.85.

Entergy (NYSE:ETR - Get Free Report) last released its earnings results on Thursday, October 31st. The utilities provider reported $2.99 EPS for the quarter, topping analysts' consensus estimates of $2.91 by $0.08. Entergy had a net margin of 14.83% and a return on equity of 9.53%. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same quarter in the previous year, the business earned $3.27 EPS. As a group, sell-side analysts forecast that Entergy Co. will post 7.21 EPS for the current year.

Entergy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 13th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend is Wednesday, November 13th. This is a boost from Entergy's previous quarterly dividend of $1.13. Entergy's dividend payout ratio is 58.47%.

Entergy 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.