Envestnet Portfolio Solutions Inc. Has $848,000 Stake in Entergy Corporation $ETR

Key Points

• Envestnet Portfolio Solutions Inc. significantly reduced its stake in Entergy Corporation by 72.9% during Q2, now holding shares worth $848,000.
• Entergy recently announced a quarterly dividend of $0.60 per share, representing an annualized dividend of $2.40 and a yield of 2.5%.
• Analysts have shown positive outlooks for Entergy, with a consensus price target of $97.57 and several firms rating it as a "Moderate Buy."

Envestnet Portfolio Solutions Inc. reduced its holdings in shares of Entergy Corporation (NYSE:ETR - Free Report) by 72.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,207 shares of the utilities provider's stock after selling 27,461 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Entergy were worth $848,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. My Legacy Advisors LLC grew its holdings in Entergy by 0.8% during the 2nd quarter. My Legacy Advisors LLC now owns 16,576 shares of the utilities provider's stock worth $1,361,000 after acquiring an additional 128 shares during the period. Mattson Financial Services LLC grew its holdings in Entergy by 100.0% during the 1st quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider's stock worth $26,000 after acquiring an additional 150 shares during the period. Cary Street Partners Investment Advisory LLC grew its holdings in Entergy by 18.6% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,050 shares of the utilities provider's stock worth $90,000 after acquiring an additional 165 shares during the period. Horizon Investments LLC grew its holdings in Entergy by 1.8% during the 1st quarter. Horizon Investments LLC now owns 10,060 shares of the utilities provider's stock worth $854,000 after acquiring an additional 176 shares during the period. Finally, CreativeOne Wealth LLC grew its holdings in Entergy by 4.0% during the 1st quarter. CreativeOne Wealth LLC now owns 4,691 shares of the utilities provider's stock worth $401,000 after acquiring an additional 182 shares during the period. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Entergy

In other Entergy news, insider Haley Fisackerly sold 4,463 shares of Entergy stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $90.50, for a total transaction of $403,901.50. Following the transaction, the insider owned 3,318 shares of the company's stock, valued at $300,279. This trade represents a 57.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is currently owned by corporate insiders.

Entergy Price Performance

Shares of NYSE ETR opened at $95.80 on Monday. Entergy Corporation has a fifty-two week low of $66.75 and a fifty-two week high of $98.58. The stock has a market cap of $42.77 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 2.41 and a beta of 0.62. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.80. The firm's 50-day simple moving average is $91.02 and its 200 day simple moving average is $86.10.

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

Entergy Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 2.5%. Entergy's dividend payout ratio (DPR) is currently 59.85%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ETR shares. Jefferies Financial Group started coverage on Entergy in a report on Thursday, September 4th. They set a "buy" rating and a $109.00 price target for the company. KeyCorp restated an "overweight" rating and issued a $106.00 target price (up from $96.00) on shares of Entergy in a research note on Wednesday. JPMorgan Chase & Co. raised their target price on Entergy from $102.00 to $103.00 and gave the company an "overweight" rating in a research note on Thursday, August 21st. Mizuho set a $97.00 target price on Entergy and gave the company an "outperform" rating in a research note on Thursday, July 31st. Finally, Evercore ISI set a $98.00 target price on Entergy and gave the company an "in-line" rating in a research note on Monday, October 6th. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, Entergy presently has an average rating of "Moderate Buy" and a consensus price target of $97.57.

Entergy Profile

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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