Money Concepts Capital Corp Grows Stake in Entergy Corporation $ETR

Money Concepts Capital Corp grew its stake in shares of Entergy Corporation (NYSE:ETR) by 99.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,298 shares of the utilities provider’s stock after purchasing an additional 10,597 shares during the quarter. Money Concepts Capital Corp’s holdings in Entergy were worth $1,985,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. New York State Teachers Retirement System raised its position in shares of Entergy by 5.4% during the 3rd quarter. New York State Teachers Retirement System now owns 433,613 shares of the utilities provider’s stock valued at $40,408,000 after acquiring an additional 22,148 shares in the last quarter. New York State Common Retirement Fund increased its stake in Entergy by 3.9% during the third quarter. New York State Common Retirement Fund now owns 184,690 shares of the utilities provider’s stock valued at $17,211,000 after purchasing an additional 7,000 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Entergy by 13.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 59,279 shares of the utilities provider’s stock worth $5,524,000 after purchasing an additional 7,212 shares during the period. World Investment Advisors lifted its position in shares of Entergy by 269.9% in the 3rd quarter. World Investment Advisors now owns 22,384 shares of the utilities provider’s stock worth $2,086,000 after buying an additional 16,332 shares during the last quarter. Finally, TD Waterhouse Canada Inc. boosted its holdings in shares of Entergy by 124.6% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 24,949 shares of the utilities provider’s stock valued at $2,335,000 after buying an additional 13,841 shares during the period. Institutional investors and hedge funds own 88.07% of the company’s stock.

Analysts Set New Price Targets

ETR has been the topic of several research reports. BMO Capital Markets reiterated an “outperform” rating and set a $104.00 price objective (up previously from $96.00) on shares of Entergy in a research note on Tuesday, October 14th. Mizuho upped their target price on Entergy from $97.00 to $104.00 and gave the company an “outperform” rating in a report on Monday, October 27th. BTIG Research raised Entergy to a “strong-buy” rating in a report on Wednesday, October 22nd. Royal Bank Of Canada restated an “outperform” rating and set a $112.00 price objective on shares of Entergy in a research report on Friday, January 23rd. Finally, TD Cowen started coverage on Entergy in a research report on Friday, January 9th. They issued a “buy” rating and a $108.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $104.83.

Entergy Stock Performance

Shares of ETR stock opened at $95.49 on Tuesday. Entergy Corporation has a 12-month low of $75.57 and a 12-month high of $98.58. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.71 and a quick ratio of 0.48. The firm has a market capitalization of $42.65 billion, a price-to-earnings ratio of 23.58, a price-to-earnings-growth ratio of 2.14 and a beta of 0.65. The business has a 50 day simple moving average of $93.95 and a 200 day simple moving average of $92.69.

Entergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Monday, February 9th will be issued a $0.64 dividend. The ex-dividend date of this dividend is Monday, February 9th. This represents a $2.56 annualized dividend and a yield of 2.7%. Entergy’s dividend payout ratio is presently 63.21%.

Insider Transactions at Entergy

In related news, Director Ralph Lewis Ropp bought 1,000 shares of the stock in a transaction on Wednesday, November 12th. The shares were purchased at an average price of $96.69 per share, with a total value of $96,690.00. Following the purchase, the director owned 1,050 shares in the company, valued at approximately $101,524.50. This represents a 2,000.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.47% of the stock is owned by corporate insiders.

Entergy Company Profile

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.