Smith Group Asset Management LLC Invests $455,000 in Entergy Corporation (NYSE:ETR)

Smith Group Asset Management LLC bought a new position in shares of Entergy Corporation (NYSE:ETR - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 6,000 shares of the utilities provider's stock, valued at approximately $455,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in shares of Entergy during the third quarter worth about $27,000. Fortitude Family Office LLC increased its position 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 acquiring an additional 178 shares in the last quarter. Cetera Trust Company N.A bought a new stake in shares of Entergy during the third quarter worth about $29,000. Coastline Trust Co bought a new stake in shares of Entergy during the third quarter worth about $31,000. Finally, Ashton Thomas Securities LLC purchased a new position in Entergy during the third quarter worth about $42,000. 88.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ETR has been the topic of several analyst reports. UBS Group boosted their price target on shares of Entergy from $72.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday, December 3rd. StockNews.com upgraded shares of Entergy from a "sell" rating to a "hold" rating in a report on Sunday, December 29th. LADENBURG THALM/SH SH upgraded shares of Entergy from a "neutral" rating to a "buy" rating and set a $86.50 price target on the stock in a report on Thursday. Morgan Stanley upgraded shares of Entergy from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $58.00 to $75.00 in a report on Monday, November 4th. Finally, KeyCorp cut shares of Entergy from an "overweight" rating to a "sector weight" rating in a report on Wednesday, December 4th. Five investment 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's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $79.81.

Insider Buying and Selling

In related news, insider Haley Fisackerly sold 8,268 shares of the company's stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $74.52, for a total transaction of $616,090.02. Following the sale, the insider now owns 4,032 shares of the company's stock, valued at approximately $300,444.48. This represents a 67.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Deanna D. Rodriguez sold 6,088 shares of the company's stock in a transaction that occurred 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 in the company, valued at $292,210.88. This trade represents a 60.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,756 shares of company stock valued at $1,095,637. Company insiders own 0.39% of the company's stock.

Entergy Stock Performance

Shares of ETR stock traded up $1.85 during trading on Thursday, reaching $81.09. 1,029,892 shares of the company's stock traded hands, compared to its average volume of 3,800,000. The company has a market capitalization of $34.77 billion, a P/E ratio of 19.76, a PEG ratio of 2.54 and a beta of 0.71. 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 firm's 50-day moving average is $77.01 and its 200 day moving average is $68.42. Entergy Corporation has a 1 year low of $48.08 and a 1 year high of $84.26.

Entergy (NYSE:ETR - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The utilities provider reported $1.50 EPS for the quarter, beating analysts' consensus estimates of $1.46 by $0.04. The company had revenue of $3.39 billion for the quarter, compared to analysts' expectations of $3.46 billion. Entergy had a net margin of 14.83% and a return on equity of 9.53%. During the same period in the prior year, the company posted $1.64 EPS. Equities research analysts expect that Entergy Corporation will post 3.59 EPS for the current year.

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.