Entergy Co. (ETR) Shares Bought by Rench Wealth Management Inc.
Rench Wealth Management Inc. raised its stake in Entergy Co. (NYSE:ETR) by 15.6% in the 4th quarter, HoldingsChannel reports. The fund owned 30,947 shares of the utilities provider’s stock after purchasing an additional 4,169 shares during the period. Rench Wealth Management Inc.’s holdings in Entergy were worth $2,519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cerebellum GP LLC acquired a new position in Entergy in the fourth quarter valued at $123,000. Calton & Associates Inc. acquired a new position in Entergy in the fourth quarter valued at $130,000. Advisory Services Network LLC boosted its stake in Entergy by 2.1% in the second quarter. Advisory Services Network LLC now owns 2,335 shares of the utilities provider’s stock valued at $179,000 after acquiring an additional 49 shares in the last quarter. Krilogy Financial LLC boosted its stake in Entergy by 1,116.0% in the third quarter. Krilogy Financial LLC now owns 2,432 shares of the utilities provider’s stock valued at $186,000 after acquiring an additional 2,232 shares in the last quarter. Finally, Segment Wealth Management LLC acquired a new position in Entergy in the fourth quarter valued at $201,000. Institutional investors own 83.14% of the company’s stock.
ETR has been the subject of several research analyst reports. Mizuho restated a “hold” rating and issued a $83.00 price objective on shares of Entergy in a research note on Friday, October 27th. Citigroup upgraded shares of Entergy from a “neutral” rating to a “buy” rating and set a $91.00 price objective for the company in a research note on Friday, October 13th. JPMorgan Chase & Co. upped their price objective on shares of Entergy from $83.00 to $84.00 and gave the company a “neutral” rating in a research note on Thursday, October 12th. TheStreet raised shares of Entergy from a “c” rating to a “b-” rating in a report on Friday, October 27th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $101.00 target price on shares of Entergy in a report on Wednesday, January 3rd. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Entergy has an average rating of “Buy” and an average target price of $84.36.
Shares of Entergy Co. (ETR) opened at $72.02 on Friday. Entergy Co. has a 1-year low of $69.63 and a 1-year high of $87.95. The company has a quick ratio of 0.58, a current ratio of 0.78 and a debt-to-equity ratio of 1.61. The company has a market cap of $13,116.89, a PE ratio of -14.58, a PEG ratio of 2.04 and a beta of 0.50.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 8th will be issued a $0.89 dividend. The ex-dividend date is Wednesday, February 7th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 4.94%. Entergy’s payout ratio is -72.06%.
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Entergy Corporation is a holding company. The Company is an integrated energy company engaged in electric power production and retail electric distribution operations. The Company operates through two business segments: Utility and Entergy Wholesale Commodities. The Utility segment includes the generation, transmission, distribution and sale of electric power to retail and wholesale customers in areas of Arkansas, Mississippi, Texas and Louisiana, including the City of New Orleans and operates a natural gas distribution business.
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