GRIMES & Co WEALTH MANAGEMENT LLC Invests $603,000 in Entergy Corporation $ETR

GRIMES & Co WEALTH MANAGEMENT LLC bought a new stake in Entergy Corporation (NYSE:ETR) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,475 shares of the utilities provider’s stock, valued at approximately $603,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Quent Capital LLC acquired a new position in Entergy in the third quarter valued at $120,000. Kiker Wealth Management LLC lifted its holdings in shares of Entergy by 3.3% in the 3rd quarter. Kiker Wealth Management LLC now owns 9,485 shares of the utilities provider’s stock valued at $884,000 after purchasing an additional 306 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Entergy by 5.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,025,863 shares of the utilities provider’s stock valued at $95,600,000 after purchasing an additional 51,608 shares during the period. Elite Wealth Management Inc. purchased a new position in Entergy during the 3rd quarter worth approximately $1,127,000. Finally, First Horizon Corp purchased a new position in Entergy during the 3rd quarter worth approximately $249,000. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Entergy Stock Performance

Shares of ETR opened at $95.07 on Thursday. The stock has a market capitalization of $42.46 billion, a P/E ratio of 23.47, a P/E/G ratio of 2.11 and a beta of 0.66. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.48 and a current ratio of 0.71. Entergy Corporation has a 1 year low of $75.55 and a 1 year high of $98.58. The company’s fifty day moving average is $93.92 and its two-hundred day moving average is $91.43.

Entergy (NYSE:ETR) last issued its earnings results on Wednesday, October 29th. The utilities provider reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.21. The business had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.58 billion. Entergy had a net margin of 14.26% and a return on equity of 11.53%. During the same quarter in the previous year, the firm earned $2.99 earnings per share. Entergy has set its FY 2025 guidance at 3.850-3.950 EPS. On average, sell-side analysts predict that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Thursday, November 13th were paid a dividend of $0.64 per share. This is a positive change from Entergy’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.7%. Entergy’s dividend payout ratio (DPR) is currently 63.21%.

Insider Activity

In other Entergy news, insider Anastasia Minor sold 5,000 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $96.39, for a total value of $481,950.00. Following the completion of the sale, the insider owned 10,122 shares of the company’s stock, valued at approximately $975,659.58. This trade represents a 33.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Haley Fisackerly sold 5,136 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $96.50, for a total transaction of $495,624.00. Following the sale, the insider owned 7,899 shares in the company, valued at $762,253.50. The trade was a 39.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 10,179 shares of company stock valued at $981,707 in the last three months. 0.39% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ETR. Royal Bank Of Canada upgraded Entergy to a “moderate buy” rating in a research note on Tuesday, October 28th. Scotiabank set a $105.00 price target on shares of Entergy and gave the company an “outperform” rating in a research report on Friday, October 3rd. Evercore ISI increased their price target on shares of Entergy from $98.00 to $101.00 and gave the stock an “in-line” rating in a research note on Thursday, October 30th. Wall Street Zen lowered shares of Entergy from a “hold” rating to a “sell” rating in a research note on Monday, December 22nd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Entergy in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Entergy currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.19.

About Entergy

Entergy Corporation (NYSE:ETR) is an integrated energy company headquartered in New Orleans, Louisiana, that generates, transmits and distributes electricity. The company’s operations combine regulated utility services with competitive power production, supplying retail electricity to residential, commercial and industrial customers while also participating in wholesale energy markets. Entergy’s generation fleet includes nuclear, natural gas, hydropower and other resources, and it operates a network of transmission and distribution assets to deliver power to end users.

Entergy conducts its regulated utility business through state-based operating subsidiaries that serve customers across parts of Arkansas, Louisiana, Mississippi and southeast Texas.