Orion Portfolio Solutions LLC Takes $98,000 Position in Entergy Co. (NYSE:ETR)
Orion Portfolio Solutions LLC purchased a new stake in Entergy Co. (NYSE:ETR) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 815 shares of the utilities provider’s stock, valued at approximately $98,000.
Several other hedge funds have also added to or reduced their stakes in the stock. State Street Corp increased its stake in shares of Entergy by 5.5% during the 4th quarter. State Street Corp now owns 11,374,316 shares of the utilities provider’s stock worth $1,362,643,000 after purchasing an additional 592,844 shares during the last quarter. Bank of America Corp DE grew its position in Entergy by 428.0% during the fourth quarter. Bank of America Corp DE now owns 5,224,407 shares of the utilities provider’s stock valued at $625,883,000 after buying an additional 4,234,928 shares during the period. Renaissance Technologies LLC grew its position in Entergy by 2.0% during the fourth quarter. Renaissance Technologies LLC now owns 4,898,624 shares of the utilities provider’s stock valued at $586,855,000 after buying an additional 95,491 shares during the period. Pictet Asset Management Ltd. increased its holdings in Entergy by 26.1% in the fourth quarter. Pictet Asset Management Ltd. now owns 3,098,291 shares of the utilities provider’s stock valued at $371,175,000 after buying an additional 641,054 shares in the last quarter. Finally, Boston Partners increased its holdings in Entergy by 4.2% in the fourth quarter. Boston Partners now owns 2,272,465 shares of the utilities provider’s stock valued at $272,226,000 after buying an additional 92,255 shares in the last quarter. Institutional investors and hedge funds own 86.75% of the company’s stock.
Shares of ETR stock traded up $7.75 on Thursday, reaching $96.71. 1,672,689 shares of the company’s stock traded hands, compared to its average volume of 1,703,196. The company has a market capitalization of $17.24 billion, a P/E ratio of 15.40 and a beta of 0.43. Entergy Co. has a 12-month low of $75.19 and a 12-month high of $135.55. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.37 and a current ratio of 0.54. The business’s 50 day moving average price is $117.81 and its two-hundred day moving average price is $118.73.
The firm also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Thursday, February 13th were given a dividend of $0.93 per share. The ex-dividend date was Wednesday, February 12th. This represents a $3.72 annualized dividend and a yield of 3.85%. Entergy’s dividend payout ratio (DPR) is 68.89%.
In other news, COO Paul D. Hinnenkamp sold 26,000 shares of Entergy stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $130.54, for a total transaction of $3,394,040.00. Following the transaction, the chief operating officer now directly owns 46,564 shares of the company’s stock, valued at approximately $6,078,464.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Peter S. Norgeot, Jr. sold 10,000 shares of Entergy stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $130.67, for a total value of $1,306,700.00. Following the transaction, the senior vice president now directly owns 24,951 shares in the company, valued at $3,260,347.17. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 175,066 shares of company stock valued at $22,869,713. 0.27% of the stock is owned by corporate insiders.
Several equities research analysts have recently issued reports on ETR shares. Mizuho reissued a “buy” rating and set a $123.00 target price (up from $121.00) on shares of Entergy in a research note on Monday, December 23rd. UBS Group raised their price target on Entergy from $134.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday, February 21st. BMO Capital Markets began coverage on Entergy in a research report on Wednesday, February 19th. They set a “market perform” rating and a $132.00 price target on the stock. KeyCorp boosted their price objective on Entergy from $129.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Finally, Morgan Stanley reduced their price objective on Entergy from $128.00 to $117.00 and set an “equal weight” rating for the company in a research note on Thursday, March 12th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $128.38.
Entergy Company Profile
Entergy Corporation, together with its subsidiaries, engages in the production and distribution of electricity in the United States. It generates electricity through gas/oil, nuclear, coal, hydro, and solar power sources. The company's Utility segment generates, transmits, distributes, and sells electric power in portions of Arkansas, Mississippi, Texas, and Louisiana, including the City of New Orleans; and distributes natural gas.
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