Pallas Capital Advisors LLC Purchases 822 Shares of Entergy Co. (NYSE:ETR)

Pallas Capital Advisors LLC lifted its position in Entergy Co. (NYSE:ETR) by 33.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,301 shares of the utilities provider’s stock after acquiring an additional 822 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Entergy were worth $454,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Entergy by 12.4% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,926,492 shares of the utilities provider’s stock valued at $741,135,000 after acquiring an additional 763,834 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Entergy by 47.1% in the second quarter. Ameriprise Financial Inc. now owns 6,479,044 shares of the utilities provider’s stock valued at $693,260,000 after acquiring an additional 2,075,776 shares in the last quarter. Capital International Investors raised its holdings in shares of Entergy by 64.2% in the first quarter. Capital International Investors now owns 4,170,045 shares of the utilities provider’s stock valued at $440,690,000 after acquiring an additional 1,630,057 shares in the last quarter. ClearBridge Investments Ltd raised its holdings in shares of Entergy by 0.6% in the second quarter. ClearBridge Investments Ltd now owns 3,137,110 shares of the utilities provider’s stock valued at $335,671,000 after acquiring an additional 20,025 shares in the last quarter. Finally, Capital Research Global Investors raised its holdings in shares of Entergy by 22.5% in the first quarter. Capital Research Global Investors now owns 2,753,248 shares of the utilities provider’s stock valued at $290,963,000 after acquiring an additional 505,705 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors.

Entergy Stock Performance

ETR opened at $154.75 on Friday. Entergy Co. has a 52-week low of $94.63 and a 52-week high of $156.85. The company has a quick ratio of 0.62, a current ratio of 0.94 and a debt-to-equity ratio of 1.81. The company has a market cap of $33.09 billion, a P/E ratio of 18.51, a price-to-earnings-growth ratio of 2.56 and a beta of 0.74. The firm’s 50-day moving average price is $129.20 and its 200-day moving average price is $116.82.

Entergy (NYSE:ETR) last issued its earnings results on Thursday, August 1st. The utilities provider reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.16. The firm had revenue of $2.95 billion for the quarter, compared to analyst estimates 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 prior year, the firm earned $1.84 earnings per share. As a group, equities analysts anticipate that Entergy Co. will post 7.21 EPS for the current fiscal year.

Entergy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 13th will be given a $1.20 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $4.80 dividend on an annualized basis and a yield of 3.10%. This is a positive change from Entergy’s previous quarterly dividend of $1.13. Entergy’s dividend payout ratio is currently 54.07%.

Insider Activity at Entergy

In related news, CEO Andrew S. Marsh sold 3,200 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 150,731 shares in the company, valued at $18,307,787.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Peter S. Norgeot, Jr. sold 7,922 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $130.00, for a total value of $1,029,860.00. Following the sale, the chief operating officer now owns 34,993 shares in the company, valued at $4,549,090. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew S. Marsh sold 3,200 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 150,731 shares in the company, valued at approximately $18,307,787.26. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,810 shares of company stock worth $6,140,626 over the last quarter. Insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. UBS Group lifted their price objective on Entergy from $143.00 to $144.00 and gave the company a “buy” rating in a report on Friday, September 20th. Guggenheim boosted their target price on shares of Entergy from $118.00 to $128.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. boosted their target price on shares of Entergy from $131.00 to $141.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Wells Fargo & Company boosted their target price on shares of Entergy from $125.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada boosted their target price on shares of Entergy from $137.00 to $140.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $131.19.

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.