Kennebec Savings Bank Raises Stock Position in Entergy Corporation (NYSE:ETR)

Kennebec Savings Bank lifted its holdings in Entergy Corporation (NYSE:ETR) by 59.3% in the fourth quarter, HoldingsChannel reports. The firm owned 1,134 shares of the utilities provider’s stock after buying an additional 422 shares during the quarter. Kennebec Savings Bank’s holdings in Entergy were worth $87,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ETR. Thrivent Financial for Lutherans increased its position in shares of Entergy by 21.4% during the third quarter. Thrivent Financial for Lutherans now owns 986,546 shares of the utilities provider’s stock worth $129,840,000 after acquiring an additional 174,093 shares during the period. Empowered Funds LLC lifted its stake in Entergy by 40.7% during the third quarter. Empowered Funds LLC now owns 18,597 shares of the utilities provider’s stock worth $2,448,000 after purchasing an additional 5,381 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Entergy by 4.0% during the 3rd quarter. Principal Financial Group Inc. now owns 280,262 shares of the utilities provider’s stock worth $36,885,000 after buying an additional 10,697 shares during the last quarter. Ausbil Investment Management Ltd boosted its stake in Entergy by 11.4% in the third quarter. Ausbil Investment Management Ltd now owns 97,218 shares of the utilities provider’s stock valued at $12,795,000 after acquiring an additional 9,986 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC acquired a new stake in shares of Entergy during the third quarter worth about $32,541,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ETR has been the topic of a number of research reports. StockNews.com upgraded Entergy from a “sell” rating to a “hold” rating in a research note on Sunday, December 29th. Mizuho upped their price target on shares of Entergy from $69.00 to $82.50 and gave the company an “outperform” rating in a research report on Monday, November 4th. Royal Bank of Canada raised their price objective on shares of Entergy from $68.50 to $70.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Wells Fargo & Company raised their price target on Entergy from $68.50 to $85.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, BMO Capital Markets reduced their price objective on Entergy from $83.00 to $79.50 and set an “outperform” rating for the company in a research note on Monday, November 18th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $79.81.

Insider Buying and Selling at Entergy

In related news, insider Eliecer Viamontes sold 400 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $73.50, for a total transaction of $29,400.00. Following the transaction, the insider now owns 8,346 shares of the company’s stock, valued at approximately $613,431. This represents a 4.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Deanna D. Rodriguez sold 6,088 shares of the business’s 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 completion of the transaction, the insider now 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 disclosure for this sale can be found here. Insiders have sold 14,756 shares of company stock valued at $1,095,637 over the last quarter. Corporate insiders own 0.39% of the company’s stock.

Entergy Trading Up 2.5 %

Shares of ETR opened at $81.20 on Friday. Entergy Corporation has a twelve month low of $48.08 and a twelve month high of $84.26. 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 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 firm’s 50-day moving average is $77.01 and its two-hundred day moving average is $68.42.

Entergy (NYSE:ETR) last posted its earnings results on Thursday, October 31st. The utilities provider reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.04. The company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.46 billion. Entergy had a return on equity of 9.53% and a net margin of 14.83%. During the same period in the previous year, the business earned $1.64 earnings per share. On average, research analysts predict that Entergy Corporation will post 3.59 earnings per share for the current fiscal year.

Entergy 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.