Entergy Corporation $ETR Stake Boosted by International Assets Investment Management LLC

Key Points

• International Assets Investment Management LLC increased its Entergy position by 3,035.7% in the third quarter, ending with 128,000 shares valued at approximately $12.7 million. Institutional investors collectively own 88.07% of Entergy.
• Analysts maintain a generally positive view, with 20 Buy ratings and two Holds producing a consensus “Moderate Buy” rating and an average price target of $121.25.
• Entergy’s shares opened at $109.93, while its latest quarterly results modestly exceeded expectations with earnings of $1.03 per share and revenue of $3.52 billion.

International Assets Investment Management LLC grew its position in shares of Entergy Corporation (NYSE:ETR - Free Report) by 3,035.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 128,000 shares of the utilities provider's stock after acquiring an additional 123,918 shares during the quarter. International Assets Investment Management LLC's holdings in Entergy were worth $12,705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Bell Investment Advisors Inc purchased a new stake in shares of Entergy in the second quarter valued at about $28,000. City State Bank boosted its holdings in Entergy by 439.6% during the third quarter. City State Bank now owns 259 shares of the utilities provider's stock worth $26,000 after purchasing an additional 211 shares during the last quarter. Pingora Partners LLC purchased a new position in Entergy during the second quarter worth about $30,000. Bank of New Hampshire boosted its holdings in Entergy by 303.0% during the third quarter. Bank of New Hampshire now owns 266 shares of the utilities provider's stock worth $26,000 after purchasing an additional 200 shares during the last quarter. Finally, Dynamic Wealth Strategies LLC bought a new stake in Entergy in the 1st quarter worth about $30,000. Institutional investors own 88.07% of the company's stock.

Insider Activity at Entergy

In other news, Director Ralph Lewis Ropp bought 1,000 shares of the stock in a transaction on Thursday, August 6th. The shares were purchased at an average cost of $106.08 per share, for a total transaction of $106,080.00. Following the completion of the purchase, the director directly owned 3,423 shares in the company, valued at $363,111.84. This represents a 41.27% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Laura R. Landreaux sold 5,600 shares of the business's stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $106.20, for a total value of $594,720.00. Following the completion of the sale, the insider owned 22,589 shares in the company, valued at approximately $2,398,951.80. The trade was a 19.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Truist Financial set a $119.00 price objective on shares of Entergy and gave the company a "buy" rating in a research note on Monday, October 12th. BTIG Research cut their target price on Entergy from $126.00 to $117.00 and set a "buy" rating on the stock in a research note on Tuesday, October 20th. UBS Group upped their target price on Entergy from $129.00 to $138.00 and gave the company a "buy" rating in a report on Monday, July 6th. Jefferies Financial Group decreased their price target on Entergy from $133.00 to $130.00 and set a "buy" rating for the company in a research report on Tuesday, October 20th. Finally, BMO Capital Markets decreased their price target on Entergy from $124.00 to $123.00 and set an "outperform" rating for the company in a research report on Thursday, July 30th. Twenty research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Entergy has a consensus rating of "Moderate Buy" and an average price target of $121.25.

Entergy Stock Down 0.0%

ETR opened at $109.93 on Friday. Entergy Corporation has a twelve month low of $90.87 and a twelve month high of $118.44. The company's 50-day moving average price is $104.36 and its two-hundred day moving average price is $107.30. The stock has a market cap of $51.30 billion, a price-to-earnings ratio of 28.19, a PEG ratio of 2.46 and a beta of 0.46. The company has a quick ratio of 0.70, a current ratio of 0.91 and a debt-to-equity ratio of 1.73.

Entergy (NYSE:ETR - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.02. The company had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.49 billion. Entergy had a net margin of 13.40% and a return on equity of 10.53%. During the same quarter last year, the business posted $1.05 EPS. As a group, equities analysts expect that Entergy Corporation will post 4.40 earnings per share for the current year.

About Entergy

Entergy Corporation is an integrated energy company that operates as a regulated electric utility. Through its operating companies, the company generates, transmits and distributes electricity to residential, commercial, industrial and governmental customers. Its generation portfolio includes nuclear, natural gas, renewable and other power resources, while its transmission and distribution networks deliver electricity across its service territories.

Entergy serves customers in Arkansas, Louisiana, Mississippi and Texas, including the New Orleans area through Entergy New Orleans.

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