Avion Wealth Boosts Position in Entergy Corporation $ETR

Key Points

• Avion Wealth increased its stake in Entergy Corporation by 7,204.5% during the second quarter, owning a total of 4,821 shares valued at $400,000.
• Several institutional investors adjusted their positions in Entergy, with hedge funds owning 88.07% of the company's stock.
• Entergy recently declared a quarterly dividend of $0.60 per share, representing an annualized yield of 2.5%.

Avion Wealth lifted its stake in shares of Entergy Corporation (NYSE:ETR - Free Report) by 7,204.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,821 shares of the utilities provider's stock after acquiring an additional 4,755 shares during the quarter. Avion Wealth's holdings in Entergy were worth $400,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of ETR. DekaBank Deutsche Girozentrale raised its holdings in shares of Entergy by 0.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 41,397 shares of the utilities provider's stock valued at $3,377,000 after acquiring an additional 118 shares in the last quarter. My Legacy Advisors LLC lifted its position in shares of Entergy by 0.8% in the 2nd quarter. My Legacy Advisors LLC now owns 16,576 shares of the utilities provider's stock worth $1,361,000 after purchasing an additional 128 shares during the period. Mattson Financial Services LLC boosted its stake in shares of Entergy by 100.0% during the first quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 150 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its holdings in Entergy by 18.6% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,050 shares of the utilities provider's stock valued at $90,000 after buying an additional 165 shares during the period. Finally, Horizon Investments LLC raised its stake in Entergy by 1.8% in the first quarter. Horizon Investments LLC now owns 10,060 shares of the utilities provider's stock worth $854,000 after buying an additional 176 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company's stock.

Insider Buying and Selling

In other news, insider Haley Fisackerly sold 4,463 shares of the company's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $90.50, for a total value of $403,901.50. Following the sale, the insider directly owned 3,318 shares of the company's stock, valued at $300,279. This represents a 57.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.39% of the company's stock.

Entergy Price Performance

NYSE ETR opened at $95.66 on Thursday. The company has a market cap of $42.70 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 2.41 and a beta of 0.62. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.80 and a quick ratio of 0.52. The stock's fifty day moving average price is $91.35 and its 200 day moving average price is $86.36. Entergy Corporation has a 1 year low of $66.85 and a 1 year high of $98.58.

Entergy (NYSE:ETR - Get Free Report) last posted its quarterly earnings results on Friday, July 8th. The utilities provider reported $0.71 earnings per share for the quarter. The business had revenue of $2.37 billion for the quarter. Entergy had a return on equity of 11.52% and a net margin of 14.35%. As a group, equities research analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 13th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $2.40 dividend on an annualized basis and a yield of 2.5%. Entergy's dividend payout ratio (DPR) is currently 59.85%.

Analyst Ratings Changes

ETR has been the subject of several analyst reports. Bank of America increased their price target on shares of Entergy from $88.00 to $97.00 and gave the company a "neutral" rating in a research report on Thursday, October 16th. BMO Capital Markets restated an "outperform" rating and issued a $104.00 target price (up from $96.00) on shares of Entergy in a research note on Tuesday, October 14th. Scotiabank set a $105.00 price target on Entergy and gave the stock an "outperform" rating in a research report on Friday, October 3rd. Morgan Stanley set a $93.00 price objective on Entergy and gave the company an "outperform" rating in a report on Wednesday. Finally, Mizuho set a $97.00 target price on Entergy and gave the company an "outperform" rating in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Entergy presently has an average rating of "Moderate Buy" and an average target price of $99.00.

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.

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