HB Wealth Management LLC Increases Stock Holdings in Entergy Co. (NYSE:ETR)

HB Wealth Management LLC grew its position in shares of Entergy Co. (NYSE:ETR) by 13.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,797 shares of the utilities provider’s stock after buying an additional 455 shares during the quarter. HB Wealth Management LLC’s holdings in Entergy were worth $406,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in ETR. State Board of Administration of Florida Retirement System boosted its stake in shares of Entergy by 6.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 234,595 shares of the utilities provider’s stock worth $25,275,000 after buying an additional 13,882 shares during the period. Cetera Advisor Networks LLC lifted its position in Entergy by 11.1% during the 4th quarter. Cetera Advisor Networks LLC now owns 55,261 shares of the utilities provider’s stock worth $5,592,000 after acquiring an additional 5,509 shares during the period. Norges Bank purchased a new position in shares of Entergy in the 4th quarter valued at approximately $127,675,000. Groupama Asset Managment acquired a new position in shares of Entergy in the fourth quarter valued at approximately $15,783,000. Finally, Acadian Asset Management LLC raised its stake in shares of Entergy by 55.4% during the first quarter. Acadian Asset Management LLC now owns 14,877 shares of the utilities provider’s stock worth $1,571,000 after purchasing an additional 5,303 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Insider Transactions at Entergy

In other news, CEO Andrew S. Marsh sold 3,200 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $121.46, for a total value of $388,672.00. Following the completion of the transaction, the chief executive officer now directly owns 150,731 shares of the company’s stock, valued at $18,307,787.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Entergy news, CEO Andrew S. Marsh sold 3,200 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $121.46, for a total transaction of $388,672.00. Following the sale, the chief executive officer now directly owns 150,731 shares of the company’s stock, valued at approximately $18,307,787.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Peter S. Norgeot, Jr. sold 11,472 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $115.16, for a total transaction of $1,321,115.52. Following the completion of the transaction, the chief operating officer now directly owns 37,888 shares of the company’s stock, valued at approximately $4,363,182.08. The disclosure for this sale can be found here. Insiders sold a total of 15,272 shares of company stock valued at $1,781,806 in the last ninety days. Corporate insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on ETR. KeyCorp boosted their price objective on shares of Entergy from $112.00 to $123.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Guggenheim boosted their price target on shares of Entergy from $118.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Argus upgraded shares of Entergy to a “strong-buy” rating in a research report on Wednesday. Mizuho boosted their target price on Entergy from $107.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Finally, LADENBURG THALM/SH SH reissued a “neutral” rating and issued a $109.50 price target (down from $117.00) on shares of Entergy in a report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $123.04.

Entergy Stock Performance

Shares of ETR stock opened at $119.83 on Friday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.45 and a current ratio of 0.94. The stock has a market cap of $25.59 billion, a PE ratio of 12.02, a P/E/G ratio of 2.29 and a beta of 0.71. Entergy Co. has a 1 year low of $87.10 and a 1 year high of $123.61. The stock has a fifty day moving average price of $112.48 and a 200 day moving average price of $108.06.

Entergy (NYSE:ETR) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.16. The business had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.98 billion. Entergy had a return on equity of 10.10% and a net margin of 14.75%. During the same quarter in the previous year, the company posted $1.84 EPS. Sell-side analysts forecast that Entergy Co. will post 7.21 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 13th will be given a $1.13 dividend. The ex-dividend date is Tuesday, August 13th. This represents a $4.52 annualized dividend and a dividend yield of 3.77%. Entergy’s dividend payout ratio is presently 45.34%.

Entergy 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.