SteelPeak Wealth LLC Takes $219,000 Position in Entergy Co. (NYSE:ETR)

SteelPeak Wealth LLC acquired a new stake in Entergy Co. (NYSE:ETR) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,664 shares of the utilities provider’s stock, valued at approximately $219,000.

Several other large investors have also made changes to their positions in the business. Iron Horse Wealth Management LLC purchased a new stake in shares of Entergy in the second quarter worth about $25,000. Heritage Wealth Advisors lifted its position in shares of Entergy by 2,172.7% in the first quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider’s stock worth $26,000 after buying an additional 239 shares in the last quarter. Cetera Trust Company N.A purchased a new stake in shares of Entergy in the third quarter worth about $29,000. Fortitude Family Office LLC increased its stake in Entergy by 423.8% during the third quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 178 shares during the last quarter. Finally, American National Bank increased its stake in Entergy by 93.7% during the second quarter. American National Bank now owns 277 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 134 shares during the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

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.

Entergy Stock Down 6.5 %

Entergy stock opened at $144.79 on Friday. The business has a fifty day moving average of $129.72 and a two-hundred day moving average of $117.12. The company has a quick ratio of 0.62, a current ratio of 0.94 and a debt-to-equity ratio of 1.81. The firm has a market cap of $30.96 billion, a P/E ratio of 17.64, a P/E/G ratio of 2.54 and a beta of 0.74. Entergy Co. has a twelve month low of $94.85 and a twelve month high of $156.85.

Entergy (NYSE:ETR) last posted its earnings results on Thursday, October 31st. The utilities provider reported $2.99 earnings per share for the quarter, topping analysts’ consensus estimates of $2.91 by $0.08. The company had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.46 billion. Entergy had a return on equity of 10.10% and a net margin of 14.75%. During the same quarter in the prior year, the business earned $3.27 earnings per share. On average, analysts forecast that Entergy Co. will post 7.21 earnings per share 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 3.32%. The ex-dividend date is Wednesday, November 13th. This is a positive change from Entergy’s previous quarterly dividend of $1.13. Entergy’s dividend payout ratio is currently 58.47%.

Wall Street Analysts Forecast Growth

ETR has been the topic of several analyst reports. Morgan Stanley boosted their price objective on Entergy from $109.00 to $115.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th. Wells Fargo & Company upped their target price on Entergy from $137.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday. Argus raised Entergy to a “strong-buy” rating in a research note on Wednesday, August 28th. KeyCorp upped their target price on Entergy from $143.00 to $162.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Scotiabank upped their target price on Entergy from $119.00 to $144.00 and gave the company a “sector perform” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $141.96.

Entergy 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.