Concord Wealth Partners Increases Stock Position in Entergy Co. (NYSE:ETR)

Concord Wealth Partners lifted its position in shares of Entergy Co. (NYSE:ETR) by 10.7% during the third quarter, Holdings Channel reports. The firm owned 2,769 shares of the utilities provider’s stock after acquiring an additional 267 shares during the period. Concord Wealth Partners’ holdings in Entergy were worth $364,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ETR. Cetera Trust Company N.A bought a new position in shares of Entergy in the third quarter valued at approximately $29,000. Iron Horse Wealth Management LLC bought a new stake in shares of Entergy during the 2nd quarter worth $25,000. Heritage Wealth Advisors boosted its holdings in shares of Entergy by 2,172.7% in the 1st quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider’s stock worth $26,000 after buying an additional 239 shares during the last quarter. American National Bank grew its position in Entergy by 93.7% during the second quarter. American National Bank now owns 277 shares of the utilities provider’s stock valued at $30,000 after buying an additional 134 shares during the period. Finally, TruNorth Capital Management LLC purchased a new stake in Entergy during the second quarter worth about $32,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Entergy

In related news, CEO Andrew S. Marsh sold 3,200 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $121.46, for a total value of $388,672.00. Following the sale, the chief executive officer now directly owns 150,731 shares of the company’s stock, valued at $18,307,787.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Entergy news, CEO Andrew S. Marsh sold 3,200 shares of Entergy stock in a transaction on Monday, August 5th. The stock was sold at an average price of $121.46, for a total transaction of $388,672.00. Following the completion of the transaction, the chief executive officer now owns 150,731 shares in the company, valued at approximately $18,307,787.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Peter S. Norgeot, Jr. sold 7,922 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $130.00, for a total value of $1,029,860.00. Following the completion of the sale, the chief operating officer now directly owns 34,993 shares in the company, valued at approximately $4,549,090. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,810 shares of company stock valued at $6,140,626. 0.39% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ETR has been the subject of a number of research reports. UBS Group increased their target price on shares of Entergy from $143.00 to $144.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Barclays lowered their target price on Entergy from $138.00 to $137.00 and set an “overweight” rating on the stock in a research note on Monday, October 7th. Guggenheim increased their price target on Entergy from $118.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Scotiabank boosted their price objective on Entergy from $115.00 to $119.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Finally, Argus raised shares of Entergy to a “strong-buy” rating in a report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $131.19.

Entergy Price Performance

Shares of ETR traded up $0.55 during trading hours on Monday, reaching $135.93. 300,102 shares of the company’s stock traded hands, compared to its average volume of 1,550,733. Entergy Co. has a 12 month low of $92.31 and a 12 month high of $138.24. The firm’s 50 day simple moving average is $127.51 and its 200-day simple moving average is $115.98. The stock has a market cap of $29.07 billion, a PE ratio of 16.19, a price-to-earnings-growth ratio of 2.55 and a beta of 0.74. The company has a current ratio of 0.94, a quick ratio of 0.62 and a debt-to-equity ratio of 1.81.

Entergy (NYSE:ETR) last released its earnings results on Thursday, August 1st. The utilities provider reported $1.92 EPS for the quarter, beating the consensus estimate of $1.76 by $0.16. Entergy had a net margin of 14.75% and a return on equity of 10.10%. The company had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same quarter last year, the firm earned $1.84 EPS. Equities analysts expect that Entergy Co. will post 7.22 EPS for the current year.

Entergy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 13th will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.53%. This is a boost from Entergy’s previous quarterly dividend of $1.13. Entergy’s dividend payout ratio (DPR) is 54.07%.

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.