834 Shares in Entergy Co. (NYSE:ETR) Purchased by Eastern Bank

Eastern Bank acquired a new position in shares of Entergy Co. (NYSE:ETR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 834 shares of the utilities provider’s stock, valued at approximately $110,000.

A number of other institutional investors have also added to or reduced their stakes in ETR. Iron Horse Wealth Management LLC bought a new stake in shares of Entergy during the 2nd quarter valued at about $25,000. Heritage Wealth Advisors boosted its position in shares of Entergy by 2,172.7% during the 1st quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 239 shares during the last quarter. Cetera Trust Company N.A bought a new stake in shares of Entergy during the 3rd quarter valued at about $29,000. American National Bank boosted its position in shares of Entergy by 93.7% during the 2nd quarter. American National Bank now owns 277 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 134 shares during the last quarter. Finally, TruNorth Capital Management LLC bought a new stake in shares of Entergy during the 2nd quarter valued at about $32,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Insiders Place Their Bets

In other Entergy news, COO Peter S. Norgeot, Jr. sold 7,922 shares of the business’s stock in a transaction on 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 approximately $4,549,090. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Entergy news, COO Peter S. Norgeot, Jr. sold 11,472 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.16, for a total value of $1,321,115.52. Following the sale, the chief operating officer now directly owns 37,888 shares of the company’s stock, valued at approximately $4,363,182.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Peter S. Norgeot, Jr. sold 7,922 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief operating officer now owns 34,993 shares of the company’s stock, valued at $4,549,090. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,810 shares of company stock valued at $6,140,626. 0.39% of the stock is currently owned by corporate insiders.

Entergy Price Performance

Shares of Entergy stock opened at $135.38 on Friday. 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’s 50 day simple moving average is $127.15 and its two-hundred day simple moving average is $115.63. The stock has a market capitalization of $28.95 billion, a P/E ratio of 16.19, a price-to-earnings-growth ratio of 2.55 and a beta of 0.74. Entergy Co. has a one year low of $90.78 and a one year high of $138.24.

Entergy (NYSE:ETR) last issued its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.16. The firm had revenue of $2.95 billion for 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 period last year, the company earned $1.84 EPS. Analysts forecast that Entergy Co. will post 7.22 EPS for the current year.

Entergy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 13th will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.55%. This is an increase from Entergy’s previous quarterly dividend of $1.13. Entergy’s payout ratio is 54.07%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ETR. KeyCorp lifted their price target on Entergy from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Tuesday. UBS Group raised their price objective on Entergy from $143.00 to $144.00 and gave the company a “buy” rating in a report on Friday, September 20th. Royal Bank of Canada raised their price objective on Entergy from $137.00 to $140.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Bank of America raised their price objective on Entergy from $135.00 to $138.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. raised their price objective on Entergy from $131.00 to $141.00 and gave the company an “overweight” rating in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $131.19.

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.