Entergy Corporation $ETR Stock Sold by Soltis Investment Advisors LLC

Key Points

• Soltis Investment Advisors reduced its Entergy stake by 16.9% in the third quarter, selling 13,689 shares and retaining 67,253 shares valued at approximately $6.7 million. Institutional investors and hedge funds collectively own 88.07% of Entergy.
• Analysts remain broadly positive, with 20 Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $121.25. Several firms lowered their targets, while UBS raised its objective to $138.
• Entergy shares opened at $109.99, up 2.0%, with a market capitalization of about $51.3 billion. The company’s latest quarterly results slightly exceeded expectations, reporting $1.03 in adjusted EPS and $3.52 billion in revenue.

Soltis Investment Advisors LLC trimmed its position in shares of Entergy Corporation (NYSE:ETR - Free Report) by 16.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 67,253 shares of the utilities provider's stock after selling 13,689 shares during the quarter. Soltis Investment Advisors LLC's holdings in Entergy were worth $6,676,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ETR. BlackRock Inc. purchased a new position in shares of Entergy in the second quarter valued at $4,861,376,000. Bank of America Corp DE boosted its position in shares of Entergy by 5.3% in the 1st quarter. Bank of America Corp DE now owns 17,369,775 shares of the utilities provider's stock worth $1,951,668,000 after buying an additional 870,847 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Entergy in the 2nd quarter worth about $633,338,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Entergy by 4.3% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,941,157 shares of the utilities provider's stock worth $452,681,000 after buying an additional 161,411 shares in the last quarter. Finally, Legal & General Group Plc acquired a new stake in Entergy in the 2nd quarter valued at about $430,404,000. Institutional investors and hedge funds own 88.07% of the company's stock.

Insider Transactions at Entergy

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ETR shares. KeyCorp dropped their target price on shares of Entergy from $123.00 to $118.00 and set an "overweight" rating for the company in a report on Tuesday, October 13th. BMO Capital Markets cut their target price on shares of Entergy from $124.00 to $123.00 and set an "outperform" rating for the company in a research report on Thursday, July 30th. Weiss Ratings downgraded shares of Entergy from a "buy (b+)" rating to a "buy (b)" rating in a report on Thursday, August 20th. UBS Group raised their price objective on shares of Entergy from $129.00 to $138.00 and gave the stock a "buy" rating in a research note on Monday, July 6th. Finally, Scotiabank dropped their price objective on shares of Entergy from $129.00 to $121.00 and set an "outperform" rating for the company in a research note on Wednesday, September 30th. Twenty investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $121.25.

Entergy Stock Up 2.0%

Shares of NYSE:ETR opened at $109.99 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.91 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $51.33 billion, a P/E ratio of 28.20, a P/E/G ratio of 2.41 and a beta of 0.46. Entergy Corporation has a 52-week low of $90.87 and a 52-week high of $118.44. The stock's fifty day simple moving average is $104.31 and its 200-day simple moving average is $107.22.

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