Bank & Trust Co Acquires New Shares in Entergy Co. (NYSE:ETR)

Bank & Trust Co acquired a new position in Entergy Co. (NYSE:ETR) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 705 shares of the utilities provider’s stock, valued at approximately $75,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Tidemark LLC acquired a new position in shares of Entergy in the 4th quarter worth approximately $25,000. Heritage Wealth Advisors raised its position in Entergy by 2,172.7% in the first quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 239 shares during the period. OLD Point Trust & Financial Services N A acquired a new position in Entergy during the fourth quarter worth $35,000. Newbridge Financial Services Group Inc. boosted its position in shares of Entergy by 40.0% during the first quarter. Newbridge Financial Services Group Inc. now owns 385 shares of the utilities provider’s stock worth $41,000 after buying an additional 110 shares during the period. Finally, Venturi Wealth Management LLC grew its stake in shares of Entergy by 134.3% in the first quarter. Venturi Wealth Management LLC now owns 396 shares of the utilities provider’s stock valued at $42,000 after buying an additional 227 shares in the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Wall Street Analyst Weigh In

ETR has been the topic of several research reports. LADENBURG THALM/SH SH reissued a “neutral” rating and set a $109.50 target price (down previously from $117.00) on shares of Entergy in a research note on Wednesday, June 12th. BMO Capital Markets increased their price target on shares of Entergy from $124.00 to $131.00 and gave the stock an “outperform” rating in a research report on Monday. KeyCorp lifted their price objective on shares of Entergy from $112.00 to $123.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Scotiabank increased their target price on shares of Entergy from $104.00 to $115.00 and gave the stock a “sector perform” rating in a report on Friday. Finally, Mizuho boosted their price target on shares of Entergy from $107.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Entergy presently has a consensus rating of “Moderate Buy” and an average price target of $118.19.

Insiders Place Their Bets

In related news, insider Haley Fisackerly sold 1,500 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $110.23, for a total value of $165,345.00. Following the completion of the sale, the insider now directly owns 2,479 shares of the company’s stock, valued at $273,260.17. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.39% of the stock is owned by corporate insiders.

Entergy Stock Up 0.6 %

Shares of Entergy stock traded up $0.65 during trading on Tuesday, hitting $116.16. 1,938,420 shares of the stock were exchanged, compared to its average volume of 1,523,584. The stock has a market cap of $24.80 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 2.29 and a beta of 0.71. The firm’s 50-day moving average price is $109.21 and its 200 day moving average price is $105.87. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.45. Entergy Co. has a 12-month low of $87.10 and a 12-month high of $123.61.

Entergy (NYSE:ETR) last announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.16. Entergy had a return on equity of 10.10% and a net margin of 14.75%. The company had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the previous year, the business earned $1.84 EPS. As a group, analysts forecast that Entergy Co. will post 7.21 earnings per share for the current fiscal year.

Entergy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 13th will be paid a $1.13 dividend. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $4.52 annualized dividend and a yield of 3.89%. Entergy’s dividend payout ratio is currently 45.34%.

About Entergy

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.