SVB Wealth LLC Grows Stock Position in Entergy Co. (NYSE:ETR)

SVB Wealth LLC boosted its position in shares of Entergy Co. (NYSE:ETR) by 22.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,850 shares of the utilities provider’s stock after buying an additional 704 shares during the quarter. SVB Wealth LLC’s holdings in Entergy were worth $407,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Energy Income Partners LLC lifted its holdings in shares of Entergy by 28.6% in the 1st quarter. Energy Income Partners LLC now owns 397,407 shares of the utilities provider’s stock worth $41,998,000 after acquiring an additional 88,342 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Entergy by 1.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 327,979 shares of the utilities provider’s stock worth $34,662,000 after purchasing an additional 4,397 shares during the period. Magnetar Financial LLC raised its position in Entergy by 39.4% in the 1st quarter. Magnetar Financial LLC now owns 41,630 shares of the utilities provider’s stock worth $4,399,000 after purchasing an additional 11,767 shares during the period. Capital Research Global Investors lifted its stake in Entergy by 22.5% in the first quarter. Capital Research Global Investors now owns 2,753,248 shares of the utilities provider’s stock worth $290,963,000 after purchasing an additional 505,705 shares during the last quarter. Finally, Capital International Investors boosted its position in shares of Entergy by 64.2% during the first quarter. Capital International Investors now owns 4,170,045 shares of the utilities provider’s stock valued at $440,690,000 after buying an additional 1,630,057 shares during the period. Institutional investors own 88.07% of the company’s stock.

Insider Activity

In related news, CAO Reginald T. Jackson sold 9,229 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $108.71, for a total transaction of $1,003,284.59. Following the completion of the transaction, the chief accounting officer now owns 2,166 shares of the company’s stock, valued at $235,465.86. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Reginald T. Jackson sold 9,229 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $108.71, for a total value of $1,003,284.59. Following the sale, the chief accounting officer now owns 2,166 shares in the company, valued at $235,465.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Haley Fisackerly sold 1,500 shares of Entergy stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $110.23, for a total value of $165,345.00. Following the transaction, the insider now owns 2,479 shares of the company’s stock, valued at $273,260.17. The disclosure for this sale can be found here. Insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on Entergy from $122.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, June 5th. KeyCorp increased their target price on Entergy from $112.00 to $123.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Morgan Stanley lowered their target price on shares of Entergy from $103.00 to $98.00 and set an “underweight” rating for the company in a research note on Monday, June 24th. BMO Capital Markets reduced their price target on shares of Entergy from $120.00 to $117.00 and set an “outperform” rating on the stock in a research note on Monday, July 8th. Finally, LADENBURG THALM/SH SH reissued a “neutral” rating and issued a $109.50 price objective (down from $117.00) on shares of Entergy in a research report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $113.42.

Entergy Stock Performance

Shares of NYSE ETR traded up $1.00 during mid-day trading on Tuesday, hitting $115.36. The stock had a trading volume of 279,150 shares, compared to its average volume of 1,497,629. The firm has a market cap of $24.63 billion, a PE ratio of 11.47, a PEG ratio of 2.15 and a beta of 0.71. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.45 and a current ratio of 0.69. The company has a 50 day moving average of $108.51 and a two-hundred day moving average of $105.30. Entergy Co. has a twelve month low of $87.10 and a twelve month high of $115.47.

Entergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 13th will be paid a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a yield of 3.92%. The ex-dividend date is Tuesday, August 13th. Entergy’s payout ratio is 45.34%.

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.