Entergy Co. (NYSE:ETR) Stock Holdings Lessened by Meritage Portfolio Management

Meritage Portfolio Management cut its stake in shares of Entergy Co. (NYSE:ETR) by 2.2% during the third quarter, HoldingsChannel.com reports. The firm owned 57,809 shares of the utilities provider’s stock after selling 1,328 shares during the period. Meritage Portfolio Management’s holdings in Entergy were worth $7,608,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Iron Horse Wealth Management LLC purchased a new position in shares of Entergy during the 2nd quarter valued at $25,000. Heritage Wealth Advisors increased its position in Entergy by 2,172.7% in the 1st quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 239 shares during the last quarter. Cetera Trust Company N.A acquired a new position in Entergy in the 3rd quarter worth about $29,000. Fortitude Family Office LLC raised its stake in shares of Entergy by 423.8% during the 3rd quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 178 shares in the last quarter. Finally, American National Bank lifted its holdings 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 buying an additional 134 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on ETR shares. Royal Bank of Canada raised their price objective on shares of Entergy from $137.00 to $140.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Mizuho raised their price target on shares of Entergy from $138.00 to $165.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Wells Fargo & Company upped their price objective on shares of Entergy from $137.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Morgan Stanley upgraded Entergy from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $116.00 to $150.00 in a report on Monday, November 4th. Finally, UBS Group upped their price target on Entergy from $143.00 to $144.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $150.96.

Entergy Stock Performance

Shares of ETR stock traded up $3.02 during trading hours on Friday, reaching $148.98. 2,464,641 shares of the company’s stock were exchanged, compared to its average volume of 1,899,604. Entergy Co. has a fifty-two week low of $94.85 and a fifty-two week high of $156.85. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 1.77. The stock has a market capitalization of $31.94 billion, a P/E ratio of 18.15, a P/E/G ratio of 2.44 and a beta of 0.71. The business has a fifty day moving average price of $132.34 and a 200-day moving average price of $118.56.

Entergy (NYSE:ETR) last issued its earnings results on Thursday, October 31st. The utilities provider reported $2.99 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.08. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.46 billion. Entergy had a net margin of 14.83% and a return on equity of 9.53%. During the same period in the previous year, the business earned $3.27 EPS. Analysts predict that Entergy Co. will post 7.21 EPS for the current fiscal year.

Entergy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 13th will be issued a $1.20 dividend. This is a positive change from Entergy’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $4.80 annualized dividend and a dividend yield of 3.22%. Entergy’s dividend payout ratio is presently 58.47%.

Insider Buying and Selling

In other Entergy news, CEO Andrew S. Marsh sold 600 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $120.03, for a total value of $72,018.00. Following the transaction, the chief executive officer now owns 150,731 shares of the company’s stock, valued at approximately $18,092,241.93. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Peter S. Norgeot, Jr. sold 3,250 shares of the business’s stock in a transaction on 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 owns 34,993 shares in the company, valued at $4,288,742.08. 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 is available through this link. Also, CEO Andrew S. Marsh sold 600 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $120.03, for a total value of $72,018.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders sold 36,338 shares of company stock worth $4,460,238 in the last quarter. 0.39% of the stock is owned by corporate insiders.

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.