Wesbanco Bank Inc. boosted its holdings in Entergy Co. (NYSE:ETR) by 4.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 15,078 shares of the utilities provider’s stock after buying an additional 601 shares during the period. Wesbanco Bank Inc.’s holdings in Entergy were worth $1,298,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. FMR LLC increased its holdings in Entergy by 256.4% during the second quarter. FMR LLC now owns 2,585,554 shares of the utilities provider’s stock valued at $208,886,000 after buying an additional 1,860,030 shares during the period. Thrivent Financial for Lutherans increased its holdings in Entergy by 497.0% in the third quarter. Thrivent Financial for Lutherans now owns 918,529 shares of the utilities provider’s stock worth $74,520,000 after buying an additional 764,672 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Entergy by 16.0% in the third quarter. Renaissance Technologies LLC now owns 3,222,600 shares of the utilities provider’s stock worth $261,450,000 after buying an additional 445,500 shares during the last quarter. Alps Advisors Inc. acquired a new position in Entergy in the fourth quarter worth approximately $37,576,000. Finally, Luminus Management LLC increased its holdings in Entergy by 22.6% in the third quarter. Luminus Management LLC now owns 1,677,086 shares of the utilities provider’s stock worth $136,062,000 after buying an additional 308,982 shares during the last quarter. Institutional investors and hedge funds own 93.97% of the company’s stock.
In other news, insider Haley Fisackerly sold 500 shares of the stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $87.06, for a total value of $43,530.00. Following the completion of the sale, the insider now directly owns 2,090 shares of the company’s stock, valued at $181,955.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Leo P. Denault sold 42,477 shares of the stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $86.47, for a total value of $3,672,986.19. The disclosure for this sale can be found here. Insiders sold 101,527 shares of company stock valued at $8,928,201 over the last three months. 0.25% of the stock is owned by company insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Thursday, February 14th will be given a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, February 13th. This represents a $3.64 annualized dividend and a dividend yield of 4.03%. Entergy’s dividend payout ratio is 50.56%.
ETR has been the topic of several analyst reports. Zacks Investment Research upgraded Entergy from a “hold” rating to a “buy” rating and set a $96.00 price target on the stock in a report on Monday, January 21st. Bank of America increased their price target on Entergy from $91.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, November 1st. Citigroup increased their price target on Entergy from $88.00 to $89.00 and gave the company a “buy” rating in a report on Wednesday, October 17th. ValuEngine upgraded Entergy from a “hold” rating to a “buy” rating in a report on Friday, December 21st. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $91.00 price target on shares of Entergy in a report on Wednesday, January 23rd. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $89.88.
Entergy Company Profile
Entergy Corporation, together with its subsidiaries, engages in the production and distribution of electricity in the United States. It generates electricity through gas/oil, nuclear, coal, hydro, and solar power sources. The company's Utility segment generates, transmits, distributes, and sells electric power in portions of Arkansas, Mississippi, Texas, and Louisiana, including the City of New Orleans; and distributes natural gas.
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