Marks Group Wealth Management Inc Boosts Stake in Entergy Corporation (NYSE:ETR)

Marks Group Wealth Management Inc lifted its holdings in shares of Entergy Corporation (NYSE:ETR) by 99.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,737 shares of the utilities provider’s stock after buying an additional 8,835 shares during the period. Marks Group Wealth Management Inc’s holdings in Entergy were worth $1,345,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new stake in shares of Entergy during the 3rd quarter valued at about $27,000. Cetera Trust Company N.A purchased a new stake in Entergy in the third quarter worth approximately $29,000. Fortitude Family Office LLC grew its position in Entergy by 423.8% in the 3rd quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 178 shares during the period. IFS Advisors LLC purchased a new stake in Entergy during the 4th quarter valued at $30,000. Finally, Ulland Investment Advisors LLC lifted its holdings in shares of Entergy by 100.0% during the 4th quarter. Ulland Investment Advisors LLC now owns 400 shares of the utilities provider’s stock valued at $30,000 after buying an additional 200 shares during the period. 88.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on ETR. Scotiabank reduced their price objective on Entergy from $165.00 to $82.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 7th. Morgan Stanley raised shares of Entergy from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $58.00 to $75.00 in a research report on Monday, November 4th. Bank of America downgraded shares of Entergy from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $69.00 to $77.00 in a report on Monday, November 4th. Barclays upped their target price on shares of Entergy from $68.50 to $76.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, KeyCorp cut shares of Entergy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $79.81.

Entergy Price Performance

NYSE:ETR opened at $82.90 on Thursday. The business’s 50-day simple moving average is $77.91 and its two-hundred day simple moving average is $70.20. Entergy Corporation has a 52 week low of $48.08 and a 52 week high of $84.26. The stock has a market cap of $35.55 billion, a PE ratio of 20.19, a P/E/G ratio of 2.53 and a beta of 0.72. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 1.77.

Entergy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 10th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Monday, February 10th. Entergy’s dividend payout ratio (DPR) is presently 58.47%.

Insider Buying and Selling

In other Entergy news, insider Deanna D. Rodriguez sold 6,088 shares of Entergy stock in a transaction on Friday, December 13th. The shares were sold at an average price of $73.94, for a total value of $450,146.72. Following the sale, the insider now directly owns 3,952 shares in the company, valued at approximately $292,210.88. The trade was a 60.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.39% of the stock is owned by insiders.

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.