NewEdge Advisors LLC Purchases 14,833 Shares of Entergy Co. (NYSE:ETR)

NewEdge Advisors LLC grew its position in Entergy Co. (NYSE:ETR) by 45.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,817 shares of the utilities provider’s stock after acquiring an additional 14,833 shares during the quarter. NewEdge Advisors LLC’s holdings in Entergy were worth $5,116,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ETR. Barrow Hanley Mewhinney & Strauss LLC increased its stake in 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 during the period. Ameriprise Financial Inc. raised its holdings in shares of Entergy by 47.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,479,044 shares of the utilities provider’s stock worth $693,260,000 after buying 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 1st quarter. Capital International Investors now owns 4,170,045 shares of the utilities provider’s stock worth $440,690,000 after buying an additional 1,630,057 shares in the last quarter. ClearBridge Investments Ltd boosted its stake in Entergy by 0.6% in the 2nd quarter. ClearBridge Investments Ltd now owns 3,137,110 shares of the utilities provider’s stock valued at $335,671,000 after buying an additional 20,025 shares in the last quarter. Finally, Capital Research Global Investors boosted its stake in Entergy by 22.5% in the 1st quarter. Capital Research Global Investors now owns 2,753,248 shares of the utilities provider’s stock valued at $290,963,000 after buying an additional 505,705 shares in the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Insider Buying and Selling at Entergy

In other news, COO Peter S. Norgeot, Jr. sold 7,922 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief operating officer now directly owns 34,993 shares of the company’s stock, valued at approximately $4,549,090. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Andrew S. Marsh sold 3,200 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $121.46, for a total transaction of $388,672.00. Following the sale, the chief executive officer now owns 150,731 shares of the company’s stock, valued at approximately $18,307,787.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Peter S. Norgeot, Jr. sold 7,922 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $130.00, for a total value of $1,029,860.00. Following the completion of the transaction, the chief operating officer now directly 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 quarter, insiders have sold 50,810 shares of company stock valued at $6,140,626. 0.39% of the stock is currently owned by company insiders.

Entergy Stock Performance

Entergy stock opened at $132.94 on Wednesday. The company has a market cap of $28.39 billion, a PE ratio of 13.33, a PEG ratio of 2.46 and a beta of 0.73. The company has a current ratio of 0.94, a quick ratio of 0.62 and a debt-to-equity ratio of 1.81. Entergy Co. has a 1 year low of $87.10 and a 1 year high of $133.38. The company’s 50-day moving average is $121.45 and its two-hundred day moving average is $112.30.

Entergy (NYSE:ETR) last announced its quarterly earnings data 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 net margin of 14.75% and a return on equity of 10.10%. The business had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same period in the prior year, the business posted $1.84 earnings per share. Equities analysts anticipate that Entergy Co. will post 7.22 earnings per share for the current year.

Entergy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 13th were issued a $1.13 dividend. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $4.52 dividend on an annualized basis and a yield of 3.40%. Entergy’s dividend payout ratio is presently 45.34%.

Wall Street Analysts Forecast Growth

ETR has been the subject of a number of analyst reports. Guggenheim lifted their price objective on Entergy from $118.00 to $128.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Scotiabank lifted their price target on shares of Entergy from $115.00 to $119.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. UBS Group upped their price objective on shares of Entergy from $143.00 to $144.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. BMO Capital Markets lifted their target price on shares of Entergy from $124.00 to $131.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Finally, Morgan Stanley increased their price target on Entergy from $109.00 to $115.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Entergy presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.58.

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.