Spinnaker Trust Grows Position in Entergy Corporation (NYSE:ETR)

Spinnaker Trust boosted its stake in Entergy Corporation (NYSE:ETR - Free Report) by 100.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,714 shares of the utilities provider's stock after buying an additional 6,382 shares during the quarter. Spinnaker Trust's holdings in Entergy were worth $964,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ETR. Global Retirement Partners LLC increased its position in shares of Entergy by 4.3% during the 3rd quarter. Global Retirement Partners LLC now owns 7,629 shares of the utilities provider's stock valued at $1,004,000 after purchasing an additional 317 shares during the last quarter. Bleakley Financial Group LLC grew its stake in shares of Entergy by 2.7% during the 3rd quarter. Bleakley Financial Group LLC now owns 10,697 shares of the utilities provider's stock worth $1,408,000 after acquiring an additional 281 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Entergy by 1.6% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,443 shares of the utilities provider's stock worth $2,822,000 after acquiring an additional 344 shares during the period. Claro Advisors LLC bought a new position in shares of Entergy during the 3rd quarter worth $1,413,000. Finally, Net Worth Advisory Group bought a new position in Entergy in the 3rd quarter worth about $227,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

Entergy Stock Down 0.1 %

ETR traded down $0.10 during trading on Wednesday, reaching $87.31. The stock had a trading volume of 4,674,967 shares, compared to its average volume of 3,805,474. The stock's 50 day moving average is $78.74 and its two-hundred day moving average is $71.08. 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 company has a market capitalization of $37.44 billion, a price-to-earnings ratio of 21.27, a P/E/G ratio of 2.52 and a beta of 0.72. Entergy Corporation has a one year low of $49.80 and a one year high of $88.38.

Entergy (NYSE:ETR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.03. Entergy had a return on equity of 9.53% and a net margin of 14.83%. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same period last year, the company earned $0.26 earnings per share. As a group, analysts expect that Entergy Corporation will post 3.63 earnings per share for the current year.

Entergy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $2.40 annualized dividend and a dividend yield of 2.75%. Entergy's payout ratio is presently 58.47%.

Insider Activity

In related news, insider Deanna D. Rodriguez sold 6,088 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $73.94, for a total transaction of $450,146.72. Following the sale, 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 filing with the SEC, which is available at the SEC website. Corporate insiders own 0.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ETR shares. BMO Capital Markets raised their target price on Entergy from $79.00 to $94.00 and gave the stock an "outperform" rating in a research note on Wednesday. Mizuho raised their price objective on Entergy from $69.00 to $82.50 and gave the company an "outperform" rating in a report on Monday, November 4th. KeyCorp cut Entergy from an "overweight" rating to a "sector weight" rating in a report on Wednesday, December 4th. Scotiabank decreased their price target on 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, Morgan Stanley raised Entergy from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $58.00 to $75.00 in a research note on Monday, November 4th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.