Entergy Co. (NYSE:ETR) Position Lowered by Wrapmanager Inc.

Wrapmanager Inc. reduced its position in Entergy Co. (NYSE:ETR) by 15.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,970 shares of the utilities provider’s stock after selling 370 shares during the quarter. Wrapmanager Inc.’s holdings in Entergy were worth $259,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Iron Horse Wealth Management LLC bought a new stake in Entergy during the second quarter valued at $25,000. Cetera Trust Company N.A acquired a new position in shares of Entergy in the 3rd quarter valued at about $29,000. Fortitude Family Office LLC grew its position in shares of Entergy by 423.8% during the 3rd quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock valued at $29,000 after buying an additional 178 shares during the last quarter. American National Bank raised its stake in Entergy by 93.7% during the second quarter. American National Bank now owns 277 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 134 shares during the period. Finally, Coastline Trust Co bought a new position in Entergy in the third quarter worth about $31,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

Insider Activity

In related news, CEO Andrew S. Marsh sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $120.03, for a total value of $72,018.00. Following the completion of the sale, the chief executive officer now directly owns 150,731 shares in the company, valued at approximately $18,092,241.93. The trade was a 0.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Haley Fisackerly sold 4,134 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $149.03, for a total transaction of $616,090.02. Following the completion of the sale, the insider now owns 2,016 shares of the company’s stock, valued at $300,444.48. The trade was a 67.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 40,472 shares of company stock worth $5,076,328 in the last ninety days. Corporate insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ETR shares. Argus raised Entergy to a “strong-buy” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. boosted their price target on shares of Entergy from $131.00 to $141.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Wells Fargo & Company increased their price objective on shares of Entergy from $137.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Bank of America lowered shares of Entergy from a “buy” rating to a “neutral” rating and boosted their target price for the company from $138.00 to $154.00 in a research note on Monday, November 4th. Finally, Guggenheim raised their price target on shares of Entergy from $145.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $150.42.

Entergy Stock Performance

Shares of ETR opened at $149.83 on Wednesday. The company has a 50-day moving average of $136.12 and a two-hundred day moving average of $120.78. The stock has a market cap of $32.13 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 2.49 and a beta of 0.71. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.89 and a quick ratio of 0.59. Entergy Co. has a one year low of $96.15 and a one year high of $156.85.

Entergy (NYSE:ETR) last issued its earnings results on Thursday, October 31st. The utilities provider reported $2.99 EPS for the quarter, topping the consensus estimate of $2.91 by $0.08. Entergy had a return on equity of 9.53% and a net margin of 14.83%. The business had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.46 billion. During the same quarter last year, the firm posted $3.27 earnings per share. On average, equities research analysts expect that Entergy Co. will post 7.21 earnings per share for the current year.

Entergy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 13th will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.20%. This is a positive change from Entergy’s previous quarterly dividend of $1.13. Entergy’s dividend payout ratio (DPR) is 58.47%.

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.