Geneos Wealth Management Inc. grew its holdings in Entergy Corporation (NYSE:ETR – Free Report) by 105.8% during the 4th quarter, HoldingsChannel reports. The firm owned 3,054 shares of the utilities provider’s stock after purchasing an additional 1,570 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Entergy were worth $232,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. Legacy Investment Solutions LLC bought a new position in Entergy in the third quarter valued at about $27,000. Fortitude Family Office LLC lifted its stake in Entergy by 423.8% in the 3rd 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 during the last quarter. Cetera Trust Company N.A acquired a new stake in Entergy in the third quarter valued at approximately $29,000. Coastline Trust Co bought a new stake in shares of Entergy during the third quarter worth $31,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Entergy during the third quarter worth $42,000. Institutional investors and hedge funds own 88.07% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages recently weighed in on ETR. Morgan Stanley upgraded Entergy from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $58.00 to $75.00 in a research report on Monday, November 4th. Wells Fargo & Company upped their price objective on Entergy from $68.50 to $85.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Mizuho lifted their target price on shares of Entergy from $69.00 to $82.50 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Barclays raised their price target on shares of Entergy from $68.50 to $76.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada boosted their price objective on shares of Entergy from $68.50 to $70.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $77.37.
Entergy Stock Up 2.3 %
Entergy stock opened at $79.43 on Thursday. The company has a market capitalization of $34.06 billion, a PE ratio of 19.35, a PEG ratio of 2.54 and a beta of 0.71. Entergy Corporation has a 12-month low of $48.08 and a 12-month high of $84.26. The firm’s fifty day moving average is $76.93 and its 200 day moving average is $68.34. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 1.77.
Entergy (NYSE:ETR – Get Free Report) last issued its earnings results on Thursday, October 31st. The utilities provider reported $1.50 EPS for the quarter, beating the consensus estimate of $1.46 by $0.04. Entergy had a return on equity of 9.53% and a net margin of 14.83%. The company had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.46 billion. During the same period last year, the business posted $1.64 EPS. As a group, sell-side analysts predict that Entergy Corporation will post 3.59 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, insider Eliecer Viamontes sold 400 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $73.50, for a total value of $29,400.00. Following the transaction, the insider now directly owns 8,346 shares in the company, valued at $613,431. This trade represents a 4.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Haley Fisackerly sold 8,268 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $74.52, for a total transaction of $616,090.02. Following the transaction, the insider now owns 4,032 shares in the company, valued at approximately $300,444.48. The trade was a 67.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,756 shares of company stock worth $1,095,637. Corporate insiders own 0.39% of the company’s stock.
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.
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