BTC Capital Management Inc. Buys 12,372 Shares of Entergy Corporation (NYSE:ETR)

BTC Capital Management Inc. lifted its stake in Entergy Corporation (NYSE:ETR) by 53.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,329 shares of the utilities provider’s stock after acquiring an additional 12,372 shares during the period. BTC Capital Management Inc.’s holdings in Entergy were worth $2,679,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Legacy Investment Solutions LLC purchased a new position in Entergy in the third quarter valued at about $27,000. Cetera Trust Company N.A bought a new stake in shares of Entergy in the 3rd quarter valued at about $29,000. Fortitude Family Office LLC grew its position in shares of Entergy by 423.8% in the 3rd quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock worth $29,000 after buying an additional 178 shares during the last quarter. IFS Advisors LLC bought a new position in shares of Entergy during the 4th quarter worth approximately $30,000. Finally, Ulland Investment Advisors LLC lifted its position in Entergy by 100.0% during the fourth quarter. Ulland Investment Advisors LLC now owns 400 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 200 shares during the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ETR has been the topic of a number of recent analyst reports. UBS Group upped their price target on Entergy from $72.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Barclays upped their target price on Entergy from $68.50 to $76.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Royal Bank of Canada boosted their price target on Entergy from $68.50 to $70.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Wells Fargo & Company upped their price objective on shares of Entergy from $68.50 to $85.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, Guggenheim lifted their target price 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. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $79.81.

Insider Activity

In other Entergy news, insider Haley Fisackerly sold 8,268 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $74.52, for a total value of $616,090.02. Following the sale, the insider now directly owns 4,032 shares of the company’s stock, valued at approximately $300,444.48. This trade represents a 67.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eliecer Viamontes sold 400 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $73.50, for a total value of $29,400.00. Following the transaction, the insider now directly owns 8,346 shares of the company’s stock, valued at approximately $613,431. The trade was a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,756 shares of company stock valued at $1,095,637 in the last three months. 0.39% of the stock is currently owned by corporate insiders.

Entergy Stock Performance

NYSE ETR opened at $81.20 on Friday. The firm has a market capitalization of $34.82 billion, a P/E ratio of 19.78, a PEG ratio of 2.44 and a beta of 0.71. The stock has a 50-day simple moving average of $77.11 and a two-hundred day simple moving average of $68.51. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.59 and a current ratio of 0.89. Entergy Corporation has a fifty-two week low of $48.08 and a fifty-two week high of $84.26.

Entergy (NYSE:ETR) last announced its quarterly earnings results on Thursday, October 31st. The utilities provider reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.04. Entergy had a return on equity of 9.53% and a net margin of 14.83%. The company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.46 billion. During the same period last year, the business earned $1.64 earnings per share. On average, equities analysts forecast that Entergy Corporation will post 3.59 earnings per share 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.