Sagespring Wealth Partners LLC Acquires 354 Shares of Entergy Corporation $ETR

Sagespring Wealth Partners LLC grew its holdings in Entergy Corporation (NYSE:ETR) by 6.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,302 shares of the utilities provider’s stock after purchasing an additional 354 shares during the period. Sagespring Wealth Partners LLC’s holdings in Entergy were worth $524,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Choreo LLC increased its stake in shares of Entergy by 12.3% in the 1st quarter. Choreo LLC now owns 9,546 shares of the utilities provider’s stock valued at $816,000 after purchasing an additional 1,042 shares during the last quarter. First American Trust FSB bought a new position in shares of Entergy in the 1st quarter valued at $3,896,000. Zurich Insurance Group Ltd FI bought a new position in shares of Entergy in the 1st quarter valued at $32,658,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Entergy by 26.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 96,142 shares of the utilities provider’s stock worth $8,219,000 after acquiring an additional 19,862 shares during the last quarter. Finally, Empowered Funds LLC grew its position in Entergy by 369.8% during the 1st quarter. Empowered Funds LLC now owns 86,001 shares of the utilities provider’s stock worth $7,352,000 after acquiring an additional 67,696 shares during the last quarter. Institutional investors own 88.07% of the company’s stock.

Analyst Ratings Changes

ETR has been the topic of a number of research reports. Jefferies Financial Group initiated coverage on Entergy in a research report on Thursday, September 4th. They set a “buy” rating and a $109.00 price objective on the stock. KeyCorp restated an “overweight” rating and set a $106.00 price objective (up previously from $96.00) on shares of Entergy in a research report on Wednesday. Barclays set a $100.00 price objective on Entergy and gave the stock an “overweight” rating in a research report on Monday, October 6th. Morgan Stanley reduced their price objective on Entergy from $86.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 25th. Finally, Scotiabank set a $105.00 price objective on Entergy and gave the stock an “outperform” rating in a research report on Friday, October 3rd. Twelve investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Entergy currently has an average rating of “Moderate Buy” and a consensus target price of $97.57.

Entergy Stock Down 1.6%

Shares of ETR opened at $96.08 on Friday. The company has a market capitalization of $42.89 billion, a PE ratio of 23.93, a PEG ratio of 2.66 and a beta of 0.62. Entergy Corporation has a 12 month low of $66.75 and a 12 month high of $98.58. The stock’s 50-day moving average price is $90.92 and its two-hundred day moving average price is $86.03. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73.

Entergy (NYSE:ETR) last announced its earnings results on Friday, July 8th. The utilities provider reported $0.71 EPS for the quarter. The firm had revenue of $2.37 billion for the quarter. Entergy had a return on equity of 11.52% and a net margin of 14.35%. On average, analysts anticipate that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 13th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Wednesday, August 13th. Entergy’s payout ratio is currently 59.85%.

Insider Activity

In other news, insider Haley Fisackerly sold 4,463 shares of the business’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $90.50, for a total value of $403,901.50. Following the transaction, the insider directly owned 3,318 shares of the company’s stock, valued at $300,279. The trade was a 57.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.39% of the stock is owned by corporate insiders.

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.