Peregrine Asset Advisers Inc. Buys 25,843 Shares of Entergy Corporation $ETR

Peregrine Asset Advisers Inc. grew its stake in shares of Entergy Corporation (NYSE:ETR) by 47.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 80,605 shares of the utilities provider’s stock after acquiring an additional 25,843 shares during the period. Entergy comprises about 2.3% of Peregrine Asset Advisers Inc.’s holdings, making the stock its 9th biggest position. Peregrine Asset Advisers Inc.’s holdings in Entergy were worth $7,512,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in Entergy during the second quarter worth $468,628,000. Boston Partners raised its stake in shares of Entergy by 114.9% during the 2nd quarter. Boston Partners now owns 6,940,628 shares of the utilities provider’s stock worth $578,531,000 after buying an additional 3,710,814 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Entergy by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 56,459,668 shares of the utilities provider’s stock worth $4,692,928,000 after buying an additional 1,630,674 shares in the last quarter. Mizuho Markets Americas LLC purchased a new stake in shares of Entergy in the 3rd quarter worth about $135,396,000. Finally, State Street Corp grew its stake in Entergy by 4.5% in the 2nd quarter. State Street Corp now owns 22,920,881 shares of the utilities provider’s stock valued at $1,905,184,000 after acquiring an additional 981,750 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Analysts Set New Price Targets

ETR has been the subject of a number of research reports. BMO Capital Markets restated an “outperform” rating and set a $104.00 target price (up previously from $96.00) on shares of Entergy in a research report on Tuesday, October 14th. Siebert Williams Shank initiated coverage on Entergy in a research report on Tuesday, January 20th. They set a “buy” rating and a $109.00 price objective for the company. TD Cowen started coverage on Entergy in a research note on Friday, January 9th. They issued a “buy” rating and a $108.00 target price on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Entergy in a research report on Thursday, January 22nd. Finally, Argus set a $100.00 price target on Entergy and gave the stock a “buy” rating in a report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.83.

Entergy Stock Up 1.9%

Shares of NYSE:ETR opened at $97.32 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.48 and a debt-to-equity ratio of 1.62. The firm has a market cap of $43.46 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 2.13 and a beta of 0.65. The stock’s 50-day moving average price is $93.99 and its two-hundred day moving average price is $92.77. Entergy Corporation has a 12-month low of $75.57 and a 12-month high of $98.58.

Entergy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Monday, February 9th will be paid a dividend of $0.64 per share. The ex-dividend date of this dividend is Monday, February 9th. This represents a $2.56 annualized dividend and a dividend yield of 2.6%. Entergy’s payout ratio is currently 63.21%.

Insider Activity at Entergy

In other news, Director Ralph Lewis Ropp bought 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were acquired at an average cost of $96.69 per share, with a total value of $96,690.00. Following the transaction, the director owned 1,050 shares of the company’s stock, valued at $101,524.50. This represents a 2,000.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.47% of the stock is currently owned by insiders.

Entergy Company Profile

Entergy Corporation (NYSE:ETR) is an integrated energy company headquartered in New Orleans, Louisiana, that generates, transmits and distributes electricity. The company’s operations combine regulated utility services with competitive power production, supplying retail electricity to residential, commercial and industrial customers while also participating in wholesale energy markets. Entergy’s generation fleet includes nuclear, natural gas, hydropower and other resources, and it operates a network of transmission and distribution assets to deliver power to end users.

Entergy conducts its regulated utility business through state-based operating subsidiaries that serve customers across parts of Arkansas, Louisiana, Mississippi and southeast Texas.