Excelsior Advisor Network LLC acquired a new position in Entergy Corporation (NYSE:ETR – Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,750 shares of the utilities provider’s stock, valued at approximately $646,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Dynamic Wealth Strategies LLC purchased a new position in Entergy during the first quarter valued at $30,000. Fairway Wealth LLC bought a new stake in Entergy during the 1st quarter valued at about $30,000. United Community Bank increased its stake in Entergy by 806.7% during the 4th quarter. United Community Bank now owns 272 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 242 shares in the last quarter. Washington Trust Advisors Inc. raised its holdings in Entergy by 119.4% in the fourth quarter. Washington Trust Advisors Inc. now owns 283 shares of the utilities provider’s stock worth $26,000 after buying an additional 154 shares during the last quarter. Finally, Union Savings Bank purchased a new position in Entergy in the fourth quarter worth about $28,000. Institutional investors own 88.07% of the company’s stock.
Entergy Stock Down 1.8%
ETR opened at $113.91 on Tuesday. The stock has a market capitalization of $52.16 billion, a price-to-earnings ratio of 29.06, a PEG ratio of 1.98 and a beta of 0.50. The firm has a 50 day moving average price of $112.50 and a 200-day moving average price of $107.94. Entergy Corporation has a twelve month low of $86.40 and a twelve month high of $118.44. The company has a quick ratio of 0.73, a current ratio of 0.96 and a debt-to-equity ratio of 1.80.
Analysts Set New Price Targets
A number of research firms have recently commented on ETR. BMO Capital Markets increased their price target on shares of Entergy from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Wednesday, July 22nd. UBS Group restated a “buy” rating and issued a $135.00 price objective (up from $131.00) on shares of Entergy in a report on Thursday, April 30th. BTIG Research reiterated a “buy” rating and set a $126.00 target price on shares of Entergy in a research note on Wednesday, June 10th. KeyCorp reissued an “overweight” rating and issued a $123.00 target price (up from $118.00) on shares of Entergy in a report on Tuesday, April 21st. Finally, Evercore set a $123.00 price target on Entergy in a research note on Wednesday, June 10th. Seventeen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $121.05.
Get Our Latest Stock Analysis on ETR
Insider Activity
In related news, insider Haley Fisackerly sold 10,638 shares of Entergy stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $110.00, for a total value of $1,170,180.00. Following the completion of the sale, the insider owned 14,182 shares of the company’s stock, valued at $1,560,020. The trade was a 42.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.21% of the stock is currently owned by company 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.
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