1,750 Shares in Entergy Co. (NYSE:ETR) Bought by Summit Asset Management LLC

Summit Asset Management LLC acquired a new position in Entergy Co. (NYSE:ETR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,750 shares of the utilities provider’s stock, valued at approximately $230,000.

Several other hedge funds have also recently made changes to their positions in the business. Iron Horse Wealth Management LLC bought a new stake in Entergy in the 2nd quarter valued at about $25,000. Cetera Trust Company N.A bought a new stake in Entergy in the 3rd quarter valued at about $29,000. Fortitude Family Office LLC increased its position in Entergy by 423.8% in 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. American National Bank increased its position in Entergy by 93.7% in the 2nd quarter. American National Bank now owns 277 shares of the utilities provider’s stock valued at $30,000 after buying an additional 134 shares in the last quarter. Finally, TruNorth Capital Management LLC bought a new stake in Entergy in the 2nd quarter valued at about $32,000. 88.07% of the stock is owned by institutional investors.

Insider Buying and Selling at Entergy

In other Entergy news, COO Peter S. Norgeot, Jr. sold 3,250 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $122.56, for a total transaction of $398,320.00. Following the completion of the sale, the chief operating officer now directly owns 34,993 shares in the company, valued at $4,288,742.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Andrew S. Marsh sold 600 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 150,731 shares of the company’s stock, valued at $18,092,241.93. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Peter S. Norgeot, Jr. sold 3,250 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $122.56, for a total transaction of $398,320.00. Following the completion of the transaction, the chief operating officer now directly owns 34,993 shares of the company’s stock, valued at approximately $4,288,742.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,472 shares of company stock worth $5,076,328 over the last three months. Company insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on ETR. Royal Bank of Canada lifted their price target on Entergy from $137.00 to $140.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. lifted their price target on Entergy from $131.00 to $141.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Bank of America downgraded Entergy from a “buy” rating to a “neutral” rating and lifted their price target for the company from $138.00 to $154.00 in a research note on Monday, November 4th. Argus upgraded Entergy to a “strong-buy” rating in a research note on Wednesday, August 28th. Finally, StockNews.com upgraded Entergy from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $150.96.

Entergy Trading Down 0.3 %

Shares of ETR stock opened at $147.61 on Thursday. The stock has a market capitalization of $31.65 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 2.49 and a beta of 0.71. Entergy Co. has a 1 year low of $96.15 and a 1 year high of $156.85. The company’s fifty day simple moving average is $133.48 and its two-hundred day simple moving average is $119.33. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.89 and a quick ratio of 0.59.

Entergy (NYSE:ETR) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $2.99 earnings per share for the quarter, topping the consensus estimate of $2.91 by $0.08. Entergy had a net margin of 14.83% and a return on equity of 9.53%. The firm had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.46 billion. During the same quarter in the prior year, the firm posted $3.27 earnings per share. As a group, analysts anticipate that Entergy Co. will post 7.21 earnings per share for the current year.

Entergy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 13th will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 3.25%. This is a positive change from Entergy’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend is Wednesday, November 13th. Entergy’s dividend payout ratio is presently 58.47%.

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.