Salomon & Ludwin LLC Acquires 353 Shares of Entergy Corporation (NYSE:ETR)

Salomon & Ludwin LLC boosted its holdings in Entergy Corporation (NYSE:ETR) by 100.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 706 shares of the utilities provider’s stock after acquiring an additional 353 shares during the quarter. Salomon & Ludwin LLC’s holdings in Entergy were worth $54,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. State Street Corp grew its stake in Entergy by 1.1% during the third quarter. State Street Corp now owns 11,408,776 shares of the utilities provider’s stock worth $1,501,509,000 after buying an additional 128,667 shares during the last quarter. FMR LLC grew its stake in Entergy by 5.0% during the third quarter. FMR LLC now owns 6,613,647 shares of the utilities provider’s stock worth $870,422,000 after buying an additional 315,750 shares during the last quarter. Franklin Resources Inc. grew its stake in Entergy by 53.0% during the third quarter. Franklin Resources Inc. now owns 5,718,859 shares of the utilities provider’s stock worth $754,318,000 after buying an additional 1,981,611 shares during the last quarter. Geode Capital Management LLC grew its stake in Entergy by 0.8% during the third quarter. Geode Capital Management LLC now owns 4,965,257 shares of the utilities provider’s stock worth $651,206,000 after buying an additional 37,279 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Entergy by 60.6% during the third quarter. JPMorgan Chase & Co. now owns 3,589,727 shares of the utilities provider’s stock worth $472,444,000 after buying an additional 1,354,355 shares during the last quarter. Institutional investors own 88.07% of the company’s stock.

Entergy Trading Down 0.7 %

Shares of NYSE ETR opened at $82.64 on Friday. The company’s 50 day simple moving average is $78.32 and its 200 day simple moving average is $70.56. Entergy Corporation has a fifty-two week low of $48.93 and a fifty-two week high of $84.46. The firm has a market capitalization of $35.44 billion, a P/E ratio of 20.13, a P/E/G ratio of 2.53 and a beta of 0.72. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.89 and a quick ratio of 0.59.

Entergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 10th will be issued a $0.60 dividend. The ex-dividend date is Monday, February 10th. This represents a $2.40 annualized dividend and a yield of 2.90%. Entergy’s dividend payout ratio is currently 58.47%.

Analyst Upgrades and Downgrades

ETR has been the topic of several research analyst reports. Guggenheim upped their price objective on shares of Entergy from $72.50 to $82.50 and gave the stock a “buy” rating in a research note on Friday, November 1st. BMO Capital Markets decreased their price objective on shares of Entergy from $83.00 to $79.50 and set an “outperform” rating on the stock in a research note on Monday, November 18th. Bank of America cut shares of Entergy from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $69.00 to $77.00 in a research note on Monday, November 4th. UBS Group upped their target price on shares of Entergy from $72.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Finally, Wells Fargo & Company upped their target price on shares of Entergy from $68.50 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Entergy presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.81.

Insider Activity 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 sale, the insider now directly owns 3,952 shares in the company, valued at approximately $292,210.88. This trade represents a 60.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.39% of the stock is currently owned by company insiders.

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.