Entergy Corporation $ETR Stock Position Lifted by Elite Wealth Management Inc.

Key Points

• Elite Wealth Management increased its Entergy stake by 116.3% in the third quarter, ending the period with 39,743 shares valued at about $3.95 million. Institutional investors and hedge funds collectively owned 88.07% of the company’s stock.
• Analysts’ consensus rating was “Moderate Buy”, with a $121.57 average price target; 20 analysts rated the stock Buy and two rated it Hold.
• Entergy beat quarterly earnings and revenue estimates, reporting EPS of $1.98 and revenue of $4.37 billion. The company also raised its quarterly dividend from $0.64 to $0.68 per share.

Elite Wealth Management Inc. lifted its position in Entergy Corporation (NYSE:ETR - Free Report) by 116.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,743 shares of the utilities provider's stock after acquiring an additional 21,370 shares during the period. Elite Wealth Management Inc.'s holdings in Entergy were worth $3,945,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in ETR. Brighton Jones LLC raised its stake in Entergy by 2.9% during the 3rd quarter. Brighton Jones LLC now owns 13,664 shares of the utilities provider's stock valued at $1,356,000 after purchasing an additional 388 shares during the period. Candriam S.C.A. lifted its holdings in shares of Entergy by 83.3% in the third quarter. Candriam S.C.A. now owns 11,802 shares of the utilities provider's stock valued at $1,176,000 after purchasing an additional 5,364 shares in the last quarter. Ethic Inc. boosted its position in shares of Entergy by 3.8% in the third quarter. Ethic Inc. now owns 24,288 shares of the utilities provider's stock worth $2,411,000 after buying an additional 886 shares during the period. StoneX Group Inc. boosted its position in shares of Entergy by 8.2% in the third quarter. StoneX Group Inc. now owns 31,653 shares of the utilities provider's stock worth $3,156,000 after buying an additional 2,394 shares during the period. Finally, Pictet Asset Management Holding SA boosted its position in shares of Entergy by 2.2% in the third quarter. Pictet Asset Management Holding SA now owns 2,592,948 shares of the utilities provider's stock worth $257,376,000 after buying an additional 55,021 shares during the period. Institutional investors and hedge funds own 88.07% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ETR shares. Wall Street Zen upgraded Entergy from a "sell" rating to a "hold" rating in a report on Saturday. LADENBURG THALM/SH SH reduced their price objective on Entergy from $120.50 to $113.50 and set a "buy" rating for the company in a research note on Monday, October 12th. Mizuho reduced their price objective on Entergy from $122.00 to $121.00 and set an "outperform" rating for the company in a research note on Thursday, July 30th. HSBC started coverage on Entergy in a research report on Thursday, October 22nd. They set a "buy" rating and a $123.50 price objective for the company. Finally, Truist Financial set a $119.00 target price on Entergy and gave the company a "buy" rating in a research note on Monday, October 12th. Twenty analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $121.57.

Entergy Trading Down 0.1%

Shares of NYSE:ETR opened at $110.42 on Monday. The firm has a fifty day moving average of $104.77 and a two-hundred day moving average of $107.68. The firm has a market capitalization of $52.76 billion, a P/E ratio of 25.38, a price-to-earnings-growth ratio of 2.47 and a beta of 0.44. Entergy Corporation has a 12-month low of $90.87 and a 12-month high of $118.44. The company has a quick ratio of 0.93, a current ratio of 1.18 and a debt-to-equity ratio of 1.70.

Entergy (NYSE:ETR - Get Free Report) last posted its quarterly earnings results on Monday, November 2nd. The utilities provider reported $1.98 EPS for the quarter, beating the consensus estimate of $1.73 by $0.25. Entergy had a net margin of 14.63% and a return on equity of 11.44%. The business had revenue of $4.37 billion for the quarter, compared to analysts' expectations of $4.12 billion. During the same period in the previous year, the company posted $1.53 EPS. On average, equities analysts expect that Entergy Corporation will post 4.41 EPS for the current fiscal year.

Entergy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, November 13th. This is a positive change from Entergy's previous quarterly dividend of $0.64. This represents a $2.72 dividend on an annualized basis and a yield of 2.5%. Entergy's payout ratio is 58.85%.

Insider Buying and Selling

In other Entergy news, insider Laura Landreaux sold 5,600 shares of the business's stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $106.20, for a total value of $594,720.00. Following the transaction, the insider owned 22,589 shares in the company, valued at $2,398,951.80. The trade was a 19.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.21% of the stock is owned by company insiders.

Entergy Profile

Entergy Corporation is an investor-owned energy company headquartered in New Orleans. Its primary business is providing regulated electric utility service to residential, commercial and industrial customers.

Through its utility subsidiaries, Entergy serves communities in Arkansas, Louisiana, Mississippi and Texas. Its operations include generating, transmitting and distributing electricity, with power produced from a mix of sources that includes nuclear energy.

The company traces its corporate history to Middle South Utilities, which adopted the Entergy name in 1989.

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