Iron Horse Wealth Management LLC Boosts Stock Holdings in Entergy Corporation (NYSE:ETR)

Iron Horse Wealth Management LLC increased its position in Entergy Corporation (NYSE:ETR) by 100.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 474 shares of the utilities provider’s stock after purchasing an additional 238 shares during the period. Iron Horse Wealth Management LLC’s holdings in Entergy were worth $36,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ETR. Consolidated Portfolio Review Corp raised its stake in shares of Entergy by 95.7% in the fourth quarter. Consolidated Portfolio Review Corp now owns 3,184 shares of the utilities provider’s stock worth $241,000 after purchasing an additional 1,557 shares during the last quarter. Oakworth Capital Inc. increased its holdings in Entergy by 103.4% in the 4th quarter. Oakworth Capital Inc. now owns 1,434 shares of the utilities provider’s stock worth $109,000 after buying an additional 729 shares in the last quarter. Financial Advocates Investment Management raised its position in Entergy by 45.2% in the 4th quarter. Financial Advocates Investment Management now owns 3,204 shares of the utilities provider’s stock worth $243,000 after buying an additional 998 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in Entergy by 41.4% during the 4th quarter. State of Alaska Department of Revenue now owns 48,905 shares of the utilities provider’s stock valued at $3,707,000 after acquiring an additional 14,307 shares during the period. Finally, YANKCOM Partnership purchased a new stake in shares of Entergy during the 4th quarter valued at about $40,000. 88.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ETR. Scotiabank decreased their price objective on shares of Entergy from $165.00 to $82.00 and set a “sector perform” rating for the company in a report on Tuesday, January 7th. BMO Capital Markets decreased their target price on shares of Entergy from $83.00 to $79.50 and set an “outperform” rating for the company in a research note on Monday, November 18th. Bank of America downgraded Entergy from a “buy” rating to a “neutral” rating and raised their price target for the stock from $69.00 to $77.00 in a research note on Monday, November 4th. Morgan Stanley upgraded Entergy from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $58.00 to $75.00 in a research report on Monday, November 4th. Finally, Royal Bank of Canada raised their target price on Entergy from $68.50 to $70.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Five investment 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. Based on data from MarketBeat, Entergy currently has a consensus rating of “Moderate Buy” and an average target price of $79.81.

Entergy Price Performance

Shares of NYSE:ETR opened at $82.81 on Friday. The company has a market capitalization of $35.51 billion, a P/E ratio of 20.17, a P/E/G ratio of 2.50 and a beta of 0.72. Entergy Corporation has a 1-year low of $48.08 and a 1-year high of $84.26. The firm’s 50 day simple moving average is $77.50 and its two-hundred day simple moving average is $69.36. 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 company also recently announced 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. This represents a $2.40 annualized dividend and a yield of 2.90%. The ex-dividend date is Monday, February 10th. Entergy’s dividend payout ratio is currently 58.47%.

Insiders Place Their Bets

In related news, insider Haley Fisackerly sold 8,268 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now owns 4,032 shares in the company, valued at approximately $300,444.48. This represents a 67.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Deanna D. Rodriguez sold 6,088 shares of Entergy stock in a transaction on Friday, December 13th. The shares were sold at an average price of $73.94, for a total transaction of $450,146.72. Following the completion of the sale, the insider now owns 3,952 shares in the company, valued at approximately $292,210.88. This represents a 60.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

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.