Assetmark Inc. Acquires 81,583 Shares of Entergy Corporation (NYSE:ETR)

Assetmark Inc. boosted its holdings in shares of Entergy Corporation (NYSE:ETR) by 209.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 120,478 shares of the utilities provider’s stock after buying an additional 81,583 shares during the quarter. Assetmark Inc.’s holdings in Entergy were worth $9,135,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ETR. Fortis Group Advisors LLC boosted its stake in Entergy by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 172 shares during the period. Legacy Investment Solutions LLC acquired a new stake in shares of Entergy during the 3rd quarter worth approximately $27,000. Duncker Streett & Co. Inc. increased its position in shares of Entergy by 100.0% during the fourth quarter. Duncker Streett & Co. Inc. now owns 358 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 179 shares during the period. Riverview Trust Co raised its stake in shares of Entergy by 100.0% in the fourth quarter. Riverview Trust Co now owns 364 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 182 shares in the last quarter. Finally, IFS Advisors LLC bought a new position in Entergy in the fourth quarter worth $30,000. 88.07% of the stock is currently owned by institutional investors.

Entergy Price Performance

Shares of ETR stock opened at $81.23 on Friday. The firm’s 50 day moving average price is $81.40 and its two-hundred day moving average price is $73.31. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.59 and a current ratio of 0.72. Entergy Corporation has a 52-week low of $50.19 and a 52-week high of $88.38. The stock has a market cap of $34.96 billion, a PE ratio of 33.36, a PEG ratio of 2.34 and a beta of 0.68.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. Entergy had a return on equity of 10.68% and a net margin of 8.90%. The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $3.24 billion. During the same period in the previous year, the firm earned $0.26 earnings per share. As a group, analysts forecast that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 10th were given a $0.60 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.95%. Entergy’s dividend payout ratio is 98.77%.

Insider Buying and Selling

In related news, insider Deanna D. Rodriguez sold 6,088 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was 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 directly owns 3,952 shares in the company, valued at approximately $292,210.88. The trade was a 60.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.39% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ETR has been the topic of a number of recent research reports. Wells Fargo & Company lifted their price objective on Entergy from $85.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Evercore ISI lifted their price target on shares of Entergy from $75.00 to $86.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. KeyCorp cut shares of Entergy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Scotiabank cut their target price on shares of Entergy from $165.00 to $82.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 7th. Finally, BMO Capital Markets increased their price target on Entergy from $79.00 to $94.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $82.14.

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.