Tectonic Advisors LLC Raises Position in Entergy Co. (NYSE:ETR)

Tectonic Advisors LLC raised its stake in shares of Entergy Co. (NYSE:ETR) by 4.3% during the third quarter, HoldingsChannel reports. The firm owned 4,846 shares of the utilities provider’s stock after buying an additional 201 shares during the quarter. Tectonic Advisors LLC’s holdings in Entergy were worth $638,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank & Trust Co raised its holdings in shares of Entergy by 12.8% in the third quarter. Bank & Trust Co now owns 795 shares of the utilities provider’s stock worth $105,000 after buying an additional 90 shares during the period. HBK Sorce Advisory LLC raised its holdings in shares of Entergy by 2.3% in the second quarter. HBK Sorce Advisory LLC now owns 4,075 shares of the utilities provider’s stock worth $436,000 after buying an additional 92 shares during the period. Alliance Wealth Advisors LLC raised its holdings in shares of Entergy by 3.7% in the third quarter. Alliance Wealth Advisors LLC now owns 2,591 shares of the utilities provider’s stock worth $341,000 after buying an additional 92 shares during the period. CarsonAllaria Wealth Management Ltd. raised its holdings in shares of Entergy by 5.4% in the third quarter. CarsonAllaria Wealth Management Ltd. now owns 1,858 shares of the utilities provider’s stock worth $245,000 after buying an additional 95 shares during the period. Finally, Marino Stram & Associates LLC raised its holdings in shares of Entergy by 1.6% in the third quarter. Marino Stram & Associates LLC now owns 5,986 shares of the utilities provider’s stock worth $788,000 after buying an additional 95 shares during the period. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ETR has been the topic of several recent analyst reports. Bank of America increased their price target on Entergy from $135.00 to $138.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. increased their price target on Entergy from $131.00 to $141.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Argus raised Entergy to a “strong-buy” rating in a research note on Wednesday, August 28th. BMO Capital Markets increased their price objective on Entergy from $131.00 to $140.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. Finally, UBS Group increased their price objective on Entergy from $143.00 to $144.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. One 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $131.19.

Entergy Stock Down 1.5 %

Shares of NYSE ETR opened at $135.38 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 stock has a market capitalization of $28.95 billion, a PE ratio of 16.19, a price-to-earnings-growth ratio of 2.55 and a beta of 0.74. The stock’s fifty day simple moving average is $127.15 and its two-hundred day simple moving average is $115.63. Entergy Co. has a 12-month low of $90.78 and a 12-month high of $138.24.

Entergy (NYSE:ETR) last announced its earnings results on Thursday, August 1st. The utilities provider reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.16. The business had revenue of $2.95 billion for the quarter, compared to analysts’ expectations 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 firm earned $1.84 EPS. As a group, analysts expect that Entergy Co. will post 7.22 EPS for the current fiscal year.

Entergy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 13th will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 3.55%. This is a positive change from Entergy’s previous quarterly dividend of $1.13. Entergy’s dividend payout ratio is currently 54.07%.

Insider Activity

In other news, CEO Andrew S. Marsh sold 600 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $120.03, for a total transaction of $72,018.00. Following the completion of the sale, the chief executive officer now owns 150,731 shares in the company, valued at approximately $18,092,241.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Andrew S. Marsh sold 600 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $120.03, for a total transaction of $72,018.00. Following the completion of the sale, the chief executive officer now owns 150,731 shares in the company, valued at approximately $18,092,241.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Andrew S. Marsh sold 3,200 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $121.46, for a total value of $388,672.00. Following the sale, the chief executive officer now owns 150,731 shares of the company’s stock, valued at approximately $18,307,787.26. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,810 shares of company stock worth $6,140,626. Insiders own 0.39% of the company’s stock.

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.