Wealth Advisors of Tampa Bay LLC Raises Position in Entergy Co. (NYSE:ETR)

Wealth Advisors of Tampa Bay LLC lifted its stake in Entergy Co. (NYSE:ETR) by 1.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,510 shares of the utilities provider’s stock after purchasing an additional 445 shares during the period. Entergy accounts for approximately 1.8% of Wealth Advisors of Tampa Bay LLC’s holdings, making the stock its 23rd largest position. Wealth Advisors of Tampa Bay LLC’s holdings in Entergy were worth $3,800,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System lifted its position in shares of Entergy by 6.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 234,595 shares of the utilities provider’s stock valued at $25,275,000 after buying an additional 13,882 shares in the last quarter. Cetera Advisor Networks LLC boosted its position in shares of Entergy by 11.1% in the fourth quarter. Cetera Advisor Networks LLC now owns 55,261 shares of the utilities provider’s stock worth $5,592,000 after purchasing an additional 5,509 shares during the period. Norges Bank purchased a new stake in shares of Entergy in the fourth quarter worth $127,675,000. Groupama Asset Managment purchased a new stake in shares of Entergy in the fourth quarter worth $15,783,000. Finally, Acadian Asset Management LLC raised its position in shares of Entergy by 55.4% during the 1st quarter. Acadian Asset Management LLC now owns 14,877 shares of the utilities provider’s stock valued at $1,571,000 after purchasing an additional 5,303 shares during the period. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ETR shares. Wells Fargo & Company increased 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. LADENBURG THALM/SH SH reiterated a “neutral” rating and set a $109.50 target price (down previously from $117.00) on shares of Entergy in a research report on Wednesday, June 12th. Mizuho boosted their price target on Entergy from $107.00 to $114.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Bank of America upped their price target on Entergy from $135.00 to $138.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Finally, Morgan Stanley lifted their price objective on shares of Entergy from $100.00 to $109.00 and gave the company an “underweight” rating in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Entergy presently has an average rating of “Moderate Buy” and a consensus target price of $125.35.

Insider Activity

In other Entergy news, COO Peter S. Norgeot, Jr. sold 3,250 shares of Entergy stock in a transaction on Monday, September 9th. The shares were sold at an average price of $122.56, for a total transaction of $398,320.00. Following the completion of the transaction, the chief operating officer now directly owns 34,993 shares of the company’s stock, valued at $4,288,742.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Andrew S. Marsh sold 600 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $120.03, for a total transaction of $72,018.00. Following the transaction, the chief executive officer now directly owns 150,731 shares in the company, valued at approximately $18,092,241.93. The sale was disclosed in a legal 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 stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $122.56, for a total transaction 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 $4,288,742.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,888 shares of company stock valued at $5,110,766. 0.39% of the stock is currently owned by insiders.

Entergy Price Performance

Entergy stock opened at $127.68 on Friday. Entergy Co. has a 52-week low of $87.10 and a 52-week high of $129.66. The company has a market cap of $27.26 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 2.31 and a beta of 0.73. The firm’s fifty day moving average is $118.12 and its 200 day moving average is $110.62. The company has a quick ratio of 0.62, a current ratio of 0.94 and a debt-to-equity ratio of 1.81.

Entergy (NYSE:ETR) last announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.16. The firm had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.98 billion. Entergy had a net margin of 14.75% and a return on equity of 10.10%. 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 fiscal year.

Entergy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 13th were given a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 3.54%. The ex-dividend date was Tuesday, August 13th. Entergy’s dividend payout ratio is currently 45.34%.

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.