AE Wealth Management LLC Increases Position in Entergy Co. (NYSE:ETR)

AE Wealth Management LLC raised its holdings in shares of Entergy Co. (NYSE:ETR) by 12.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 142,668 shares of the utilities provider’s stock after buying an additional 15,493 shares during the period. AE Wealth Management LLC owned about 0.07% of Entergy worth $15,265,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ETR. 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. Norges Bank bought a new position in Entergy in the fourth quarter worth approximately $127,675,000. Confluence Investment Management LLC bought a new position in Entergy in the first quarter worth approximately $92,257,000. Panagora Asset Management Inc. grew its stake in Entergy by 89.2% in the second quarter. Panagora Asset Management Inc. now owns 1,073,603 shares of the utilities provider’s stock worth $114,876,000 after purchasing an additional 506,239 shares in the last quarter. Finally, Capital Research Global Investors grew 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 in the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Insiders Place Their Bets

In other Entergy news, CEO Andrew S. Marsh sold 3,200 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $121.46, for a total transaction of $388,672.00. Following the sale, the chief executive officer now directly owns 150,731 shares of the company’s stock, valued at approximately $18,307,787.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Entergy news, CEO Andrew S. Marsh sold 600 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $120.03, for a total transaction of $72,018.00. Following the sale, the chief executive officer now directly owns 150,731 shares of the company’s stock, valued at approximately $18,092,241.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew S. Marsh sold 3,200 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $121.46, for a total value of $388,672.00. Following the sale, the chief executive officer now directly owns 150,731 shares in the company, valued at $18,307,787.26. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,888 shares of company stock valued at $5,110,766. Company insiders own 0.39% of the company’s stock.

Entergy Stock Performance

Shares of ETR stock opened at $129.28 on Friday. The firm has a market capitalization of $27.61 billion, a price-to-earnings ratio of 12.97, a price-to-earnings-growth ratio of 2.31 and a beta of 0.73. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.62. The business has a fifty day moving average of $118.52 and a 200 day moving average of $110.81. Entergy Co. has a 1 year low of $87.10 and a 1 year high of $129.70.

Entergy (NYSE:ETR) last issued its 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. The company had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.98 billion. Entergy had a return on equity of 10.10% and a net margin of 14.75%. During the same quarter last year, the business posted $1.84 EPS. As a group, research analysts expect that Entergy Co. will post 7.22 earnings per share for the current year.

Entergy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 13th were paid a $1.13 dividend. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $4.52 dividend on an annualized basis and a yield of 3.50%. Entergy’s dividend payout ratio (DPR) is 45.34%.

Analyst Ratings Changes

Several brokerages recently issued reports on ETR. Wells Fargo & Company increased their price objective 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 stock from $115.00 to $138.00 in a research note on Tuesday. JPMorgan Chase & Co. upped their target price on Entergy from $131.00 to $141.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Guggenheim upped their target price on Entergy from $118.00 to $128.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, BMO Capital Markets upped their target price on Entergy from $124.00 to $131.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. One equities 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 stock. According to MarketBeat, Entergy has an average rating of “Moderate Buy” and an average target price of $127.35.

About Entergy

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.