SVB Wealth LLC Sells 7,870 Shares of Entergy Corporation $ETR

SVB Wealth LLC trimmed its holdings in shares of Entergy Corporation (NYSE:ETR) by 15.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,650 shares of the utilities provider’s stock after selling 7,870 shares during the period. SVB Wealth LLC’s holdings in Entergy were worth $4,161,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Physician Wealth Advisors Inc. raised its position in Entergy by 56.9% during the third quarter. Physician Wealth Advisors Inc. now owns 317 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 115 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Entergy by 150.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 323 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 194 shares during the period. Capital A Wealth Management LLC increased its position in Entergy by 5,466.7% during the second quarter. Capital A Wealth Management LLC now owns 334 shares of the utilities provider’s stock worth $28,000 after buying an additional 328 shares during the last quarter. GoalVest Advisory LLC raised its stake in Entergy by 5,733.3% in the second quarter. GoalVest Advisory LLC now owns 350 shares of the utilities provider’s stock valued at $29,000 after buying an additional 344 shares during the period. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of Entergy in the second quarter valued at approximately $30,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Argus set a $100.00 price target on Entergy and gave the company a “buy” rating in a report on Tuesday, January 6th. BTIG Research raised shares of Entergy to a “strong-buy” rating in a research report on Wednesday, October 22nd. Bank of America raised their target price on shares of Entergy from $88.00 to $97.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. Mizuho increased their price target on shares of Entergy from $97.00 to $104.00 and gave the company an “outperform” rating in a report on Monday, October 27th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Entergy in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $104.83.

Entergy Stock Performance

NYSE:ETR opened at $98.23 on Tuesday. The company has a market cap of $43.87 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 2.18 and a beta of 0.65. Entergy Corporation has a fifty-two week low of $75.57 and a fifty-two week high of $98.58. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.48 and a current ratio of 0.71. The stock has a fifty day moving average price of $94.08 and a 200-day moving average price of $93.04.

Entergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Monday, February 9th will be given a $0.64 dividend. The ex-dividend date is Monday, February 9th. This represents a $2.56 annualized dividend and a dividend yield of 2.6%. Entergy’s payout ratio is presently 63.21%.

Insider Activity

In other Entergy news, Director Ralph Lewis Ropp purchased 1,000 shares of the stock in a transaction dated Wednesday, November 12th. The stock was bought at an average price of $96.69 per share, with a total value of $96,690.00. Following the acquisition, the director owned 1,050 shares of the company’s stock, 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 legal filing with the SEC, which is available through this hyperlink. Insiders own 0.47% of the company’s stock.

Entergy 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.