NewEdge Advisors LLC lifted its position in shares of Entergy Corporation (NYSE:ETR – Free Report) by 382.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 485,852 shares of the utilities provider’s stock after acquiring an additional 385,178 shares during the quarter. NewEdge Advisors LLC’s holdings in Entergy were worth $54,590,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Optiver Holding B.V. acquired a new stake in Entergy in the first quarter valued at $300,000. Groupama Asset Managment raised its stake in shares of Entergy by 5.1% during the 1st quarter. Groupama Asset Managment now owns 695,812 shares of the utilities provider’s stock worth $78,181,000 after buying an additional 33,493 shares during the last quarter. Western Wealth Management LLC raised its stake in shares of Entergy by 5.4% during the 1st quarter. Western Wealth Management LLC now owns 5,285 shares of the utilities provider’s stock worth $594,000 after buying an additional 269 shares during the last quarter. Mascagni Wealth Management Inc. purchased a new stake in shares of Entergy in the 1st quarter worth about $252,000. Finally, Bank of America Corp DE boosted its position in shares of Entergy by 5.3% in the 1st quarter. Bank of America Corp DE now owns 17,369,775 shares of the utilities provider’s stock worth $1,951,668,000 after buying an additional 870,847 shares in the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.
Entergy Price Performance
Shares of Entergy stock opened at $106.35 on Friday. The business’s fifty day moving average price is $111.98 and its 200 day moving average price is $108.75. Entergy Corporation has a twelve month low of $86.40 and a twelve month high of $118.44. The company has a current ratio of 0.91, a quick ratio of 0.70 and a debt-to-equity ratio of 1.73. The stock has a market capitalization of $49.63 billion, a P/E ratio of 27.27, a PEG ratio of 1.83 and a beta of 0.50.
Entergy Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Thursday, August 13th will be paid a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Thursday, August 13th. Entergy’s dividend payout ratio is 65.64%.
Insider Buying and Selling
In other Entergy news, insider Haley Fisackerly sold 10,638 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $110.00, for a total transaction of $1,170,180.00. Following the transaction, the insider directly owned 14,182 shares in the company, valued at $1,560,020. This represents a 42.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ralph Lewis Ropp acquired 1,000 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were bought at an average cost of $106.08 per share, with a total value of $106,080.00. Following the completion of the acquisition, the director owned 3,423 shares in the company, valued at $363,111.84. This represents a 41.27% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.21% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Several equities analysts have weighed in on ETR shares. Barclays dropped their target price on shares of Entergy from $124.00 to $119.00 and set an “overweight” rating for the company in a report on Wednesday, June 3rd. Citigroup reaffirmed a “neutral” rating and issued a $121.00 price target (up from $116.00) on shares of Entergy in a report on Tuesday, May 5th. Wells Fargo & Company increased their price target on shares of Entergy from $123.00 to $128.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Truist Financial set a $127.00 price objective on shares of Entergy and gave the stock a “buy” rating in a research note on Friday, May 29th. Finally, UBS Group restated a “buy” rating and set a $135.00 price objective (up from $131.00) on shares of Entergy in a research report on Thursday, April 30th. Seventeen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $121.05.
Get Our Latest Research Report on Entergy
About Entergy
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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