Commerce Bank Has $1.76 Million Position in Entergy Corporation (NYSE:ETR)

Commerce Bank lessened its holdings in shares of Entergy Corporation (NYSE:ETR) by 2.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 13,387 shares of the utilities provider’s stock after selling 326 shares during the period. Commerce Bank’s holdings in Entergy were worth $1,762,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Iron Horse Wealth Management LLC acquired a new position in shares of Entergy during the 2nd quarter worth about $25,000. Cetera Trust Company N.A bought a new stake in Entergy in the third quarter valued at approximately $29,000. Fortitude Family Office LLC increased its stake in Entergy by 423.8% in the third quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 178 shares in the last quarter. American National Bank boosted its position in shares of 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 purchasing an additional 134 shares in the last quarter. Finally, Coastline Trust Co acquired a new position in shares of Entergy in the 3rd quarter valued at $31,000. 88.07% of the stock is currently owned by institutional investors.

Entergy Price Performance

Shares of NYSE ETR opened at $151.06 on Friday. Entergy Corporation has a fifty-two week low of $96.15 and a fifty-two week high of $156.85. The stock has a market capitalization of $32.39 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 2.53 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. The business has a 50-day moving average of $137.74 and a 200-day moving average of $121.57.

Entergy (NYSE:ETR) last posted its quarterly earnings results on Thursday, October 31st. The utilities provider reported $2.99 earnings per share 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 firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.46 billion. During the same quarter in the previous year, the firm earned $3.27 EPS. As a group, sell-side analysts predict that Entergy Corporation will post 7.21 earnings per share for the current fiscal year.

Entergy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 13th will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend is Wednesday, November 13th. This is an increase from Entergy’s previous quarterly dividend of $1.13. Entergy’s dividend payout ratio (DPR) is 58.47%.

Analysts Set New Price Targets

Several research firms have weighed in on ETR. KeyCorp lifted their target price on Entergy from $143.00 to $162.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Bank of America lowered Entergy from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $138.00 to $154.00 in a research report on Monday, November 4th. Guggenheim lifted 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. StockNews.com raised shares of Entergy from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Entergy from $131.00 to $141.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $150.42.

Insider Transactions at Entergy

In other Entergy news, CEO Andrew S. Marsh sold 600 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $120.03, for a total value of $72,018.00. Following the transaction, the chief executive officer now directly owns 150,731 shares in the company, valued at $18,092,241.93. The trade was a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eliecer Viamontes sold 5,166 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $120.00, for a total transaction of $619,920.00. Following the sale, the insider now owns 5,117 shares of the company’s stock, valued at approximately $614,040. This represents a 50.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,472 shares of company stock worth $5,076,328 in the last ninety days. Insiders own 0.39% of the company’s stock.

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.