Palumbo Wealth Management LLC grew its position in shares of Entergy Co. (NYSE:ETR – Free Report) by 3.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,468 shares of the utilities provider’s stock after acquiring an additional 707 shares during the quarter. Entergy accounts for 1.2% of Palumbo Wealth Management LLC’s holdings, making the stock its 22nd biggest position. Palumbo Wealth Management LLC’s holdings in Entergy were worth $3,089,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Fortitude Family Office LLC boosted its holdings in shares of Entergy by 423.8% in the 3rd quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock valued at $29,000 after buying an additional 178 shares during the last quarter. Cetera Trust Company N.A acquired a new stake in shares of Entergy in the 3rd quarter valued at approximately $29,000. Iron Horse Wealth Management LLC acquired a new stake in shares of Entergy in the 2nd quarter valued at approximately $25,000. Heritage Wealth Advisors boosted its holdings in shares of Entergy by 2,172.7% in the 1st quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider’s stock valued at $26,000 after buying an additional 239 shares during the last quarter. Finally, American National Bank boosted its holdings in shares of Entergy by 93.7% in the 2nd quarter. American National Bank now owns 277 shares of the utilities provider’s stock valued at $30,000 after buying an additional 134 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on ETR shares. Guggenheim increased their price objective on Entergy from $118.00 to $128.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Royal Bank of Canada increased their price target on Entergy from $137.00 to $140.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. UBS Group increased their price target on Entergy from $143.00 to $144.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Argus upgraded Entergy to a “strong-buy” rating in a research note on Wednesday, August 28th. Finally, JPMorgan Chase & Co. increased their price target on Entergy from $131.00 to $141.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.19.
Entergy Price Performance
Shares of NYSE ETR traded up $16.14 during mid-day trading on Thursday, reaching $150.54. The company had a trading volume of 924,490 shares, compared to its average volume of 1,563,971. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.62 and a current ratio of 0.94. Entergy Co. has a one year low of $94.63 and a one year high of $150.57. The firm has a market cap of $32.19 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 2.56 and a beta of 0.74. The business’s 50-day simple moving average is $128.48 and its 200 day simple moving average is $116.55.
Entergy (NYSE:ETR – Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.16. Entergy had a return on equity of 10.10% and a net margin of 14.75%. The company had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter last year, the business earned $1.84 earnings per share. On average, research analysts predict that Entergy Co. will post 7.21 earnings per share for the current fiscal year.
Entergy Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 13th will be given a $1.20 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.19%. This is a boost from Entergy’s previous quarterly dividend of $1.13. Entergy’s dividend payout ratio (DPR) is presently 54.07%.
Insider Buying and Selling
In related news, CEO Andrew S. Marsh sold 3,200 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $121.46, for a total value of $388,672.00. Following the transaction, the chief executive officer now owns 150,731 shares in the company, valued at approximately $18,307,787.26. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Peter S. Norgeot, Jr. sold 7,922 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $130.00, for a total value of $1,029,860.00. Following the sale, the chief operating officer now directly owns 34,993 shares of the company’s stock, valued at $4,549,090. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Andrew S. Marsh sold 3,200 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $121.46, for a total value of $388,672.00. Following the completion of the sale, the chief executive officer now directly owns 150,731 shares in the company, valued at $18,307,787.26. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,810 shares of company stock worth $6,140,626. Company insiders own 0.54% of the company’s stock.
Entergy Company 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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