Drucker Wealth 3.0 LLC Acquires New Position in Entergy Co. (NYSE:ETR)

Drucker Wealth 3.0 LLC bought a new position in Entergy Co. (NYSE:ETR) during the second quarter, Holdings Channel reports. The institutional investor bought 28,902 shares of the utilities provider’s stock, valued at approximately $3,093,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System grew its stake in Entergy by 6.3% during the 1st 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 last quarter. Cetera Advisor Networks LLC grew its position in shares of Entergy by 11.1% during the fourth 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 last quarter. Groupama Asset Managment acquired a new stake in shares of Entergy in the 4th quarter worth about $15,783,000. Acadian Asset Management LLC lifted its position in Entergy by 55.4% in the 1st quarter. Acadian Asset Management LLC now owns 14,877 shares of the utilities provider’s stock valued at $1,571,000 after purchasing an additional 5,303 shares during the last quarter. Finally, Viking Fund Management LLC boosted its stake in Entergy by 6.3% during the 1st quarter. Viking Fund Management LLC now owns 125,600 shares of the utilities provider’s stock valued at $13,273,000 after purchasing an additional 7,400 shares during the period. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ETR shares. UBS Group raised their price target on shares of Entergy from $143.00 to $144.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Bank of America lifted their price target on Entergy from $135.00 to $138.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Morgan Stanley raised their target price on Entergy from $109.00 to $115.00 and gave the company an “underweight” rating in a research note on Wednesday. Wells Fargo & Company boosted their price target on shares of Entergy from $125.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. raised 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. One research analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Entergy presently has an average rating of “Moderate Buy” and an average price target of $127.81.

Entergy Trading Down 0.2 %

NYSE ETR opened at $129.75 on Thursday. The firm’s 50 day moving average price is $119.42 and its two-hundred day moving average price is $111.31. The stock has a market cap of $27.74 billion, a price-to-earnings ratio of 13.01, a PEG ratio of 2.46 and a beta of 0.73. Entergy Co. has a twelve month low of $87.10 and a twelve month high of $131.03. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.62 and a current ratio of 0.94.

Entergy (NYSE:ETR) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.16. Entergy had a return on equity of 10.10% and a net margin of 14.75%. The firm had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same period in the previous year, the firm earned $1.84 earnings per share. Equities analysts anticipate that Entergy Co. will post 7.22 EPS for the current year.

Entergy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 13th were issued a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 3.48%. The ex-dividend date was Tuesday, August 13th. Entergy’s dividend payout ratio is currently 45.34%.

Insider Activity at Entergy

In other Entergy news, CEO Andrew S. Marsh sold 3,200 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were 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. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Andrew S. Marsh sold 3,200 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $121.46, for a total value of $388,672.00. Following 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Peter S. Norgeot, Jr. sold 7,922 shares of the stock in a transaction 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 of the company’s stock, valued at $4,549,090. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,810 shares of company stock valued at $6,140,626. 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.