ProVise Management Group LLC Increases Position in Entergy Co. (NYSE:ETR)

ProVise Management Group LLC boosted its holdings in shares of Entergy Co. (NYSE:ETR) by 797.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,399 shares of the utilities provider’s stock after purchasing an additional 29,676 shares during the quarter. ProVise Management Group LLC’s holdings in Entergy were worth $3,574,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in shares of Entergy by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 739,027 shares of the utilities provider’s stock valued at $74,781,000 after buying an additional 3,596 shares in the last quarter. Financial Advocates Investment Management purchased a new position in Entergy during the fourth quarter valued at $201,000. Norges Bank purchased a new position in Entergy during the fourth quarter valued at $127,675,000. BI Asset Management Fondsmaeglerselskab A S grew its position in shares of Entergy by 123.1% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 5,869 shares of the utilities provider’s stock valued at $594,000 after purchasing an additional 3,238 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of Entergy by 1.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 86,208 shares of the utilities provider’s stock worth $8,723,000 after purchasing an additional 1,075 shares in the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Entergy

In related news, COO Peter S. Norgeot, Jr. sold 3,250 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $122.56, for a total value of $398,320.00. Following the sale, the chief operating officer now directly owns 34,993 shares in the company, valued at approximately $4,288,742.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Andrew S. Marsh sold 19,200 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $120.35, for a total transaction of $2,310,720.00. Following the completion of the transaction, the chief executive officer now owns 150,731 shares of the company’s stock, valued at approximately $18,140,475.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Peter S. Norgeot, Jr. sold 3,250 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $122.56, for a total value of $398,320.00. Following the completion of the sale, the chief operating officer now directly owns 34,993 shares in the company, valued at approximately $4,288,742.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,888 shares of company stock worth $5,110,766. 0.39% of the stock is currently owned by company insiders.

Entergy Trading Down 0.7 %

Shares of ETR opened at $127.68 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.62 and a debt-to-equity ratio of 1.81. The firm has a 50-day moving average price of $118.12 and a 200 day moving average price of $110.62. Entergy Co. has a 12-month low of $87.10 and a 12-month high of $129.66. The firm has a market capitalization of $27.26 billion, a P/E ratio of 12.81, a P/E/G ratio of 2.31 and a beta of 0.73.

Entergy (NYSE:ETR) last announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.16. Entergy had a net margin of 14.75% and a return on equity of 10.10%. The business had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter last year, the firm earned $1.84 EPS. Sell-side analysts forecast that Entergy Co. will post 7.22 EPS for the current year.

Entergy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 13th were paid a $1.13 dividend. This represents a $4.52 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend was Tuesday, August 13th. Entergy’s dividend payout ratio (DPR) is presently 45.34%.

Analyst Ratings Changes

ETR has been the topic of several research analyst reports. LADENBURG THALM/SH SH reiterated a “neutral” rating and issued a $109.50 price objective (down from $117.00) on shares of Entergy in a report on Wednesday, June 12th. Wells Fargo & Company lifted their price target on Entergy from $125.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Barclays raised Entergy from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $115.00 to $138.00 in a research note on Tuesday. Mizuho lifted their target price on shares of Entergy from $107.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Finally, Argus upgraded shares of Entergy to a “strong-buy” rating in a research report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $125.35.

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.