Assetmark Inc. Buys 6,505 Shares of Entergy Co. (NYSE:ETR)

Assetmark Inc. raised its stake in shares of Entergy Co. (NYSE:ETR) by 20.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,895 shares of the utilities provider’s stock after purchasing an additional 6,505 shares during the period. Assetmark Inc.’s holdings in Entergy were worth $5,119,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Fortitude Family Office LLC grew its holdings in Entergy by 423.8% during the 3rd quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock valued at $29,000 after buying an additional 178 shares in the last quarter. Cetera Trust Company N.A bought a new stake in Entergy in the third quarter worth $29,000. Iron Horse Wealth Management LLC bought a new stake in Entergy in the second quarter worth $25,000. Heritage Wealth Advisors raised its stake in Entergy by 2,172.7% during the first quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 239 shares in the last quarter. Finally, American National Bank grew its stake in shares of Entergy by 93.7% in the 2nd quarter. American National Bank now owns 277 shares of the utilities provider’s stock worth $30,000 after buying an additional 134 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Analyst Ratings Changes

ETR has been the topic of several recent research reports. Morgan Stanley upgraded shares of Entergy from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $116.00 to $150.00 in a research report on Monday, November 4th. Wells Fargo & Company lifted their target price on Entergy from $137.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Mizuho raised their price target on Entergy from $138.00 to $165.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. BMO Capital Markets lifted their price objective on shares of Entergy from $146.00 to $166.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Argus upgraded shares of Entergy to a “strong-buy” rating in a report on Wednesday, August 28th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $150.96.

Insider Buying and Selling

In other Entergy news, CEO Andrew S. Marsh sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $120.03, for a total transaction of $72,018.00. Following the transaction, the chief executive officer now owns 150,731 shares in the company, valued at approximately $18,092,241.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Eliecer Viamontes sold 200 shares of Entergy stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $147.00, for a total transaction of $29,400.00. Following the completion of the transaction, the insider now directly owns 4,173 shares in the company, valued at $613,431. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 completion of the sale, the chief executive officer now owns 150,731 shares in the company, valued at $18,092,241.93. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,338 shares of company stock valued at $4,460,238 over the last three months. 0.39% of the stock is currently owned by company insiders.

Entergy Stock Up 0.9 %

Shares of NYSE ETR opened at $150.35 on Tuesday. The company has a market capitalization of $32.24 billion, a P/E ratio of 18.31, a P/E/G ratio of 2.49 and a beta of 0.71. Entergy Co. has a 1 year low of $94.85 and a 1 year high of $156.85. 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 company has a 50 day simple moving average of $132.34 and a 200-day simple moving average of $118.72.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Thursday, October 31st. The utilities provider reported $2.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.08. The business had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.46 billion. Entergy had a return on equity of 9.53% and a net margin of 14.83%. During the same period last year, the firm earned $3.27 earnings per share. On average, equities research analysts predict that Entergy Co. will post 7.21 earnings per share for the current year.

Entergy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 13th will be issued 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 dividend yield of 3.19%. This is a positive change from Entergy’s previous quarterly dividend of $1.13. Entergy’s payout ratio is presently 55.05%.

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.