Trek Financial LLC Purchases New Stake in Entergy Corporation $ETR

Trek Financial LLC purchased a new position in shares of Entergy Corporation (NYSE:ETR) during the third quarter, Holdings Channel reports. The firm purchased 53,087 shares of the utilities provider’s stock, valued at approximately $5,269,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Bank of New Hampshire increased its position in Entergy by 303.0% during the 3rd quarter. Bank of New Hampshire now owns 266 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 200 shares during the period. City State Bank boosted its stake in shares of Entergy by 439.6% in the third quarter. City State Bank now owns 259 shares of the utilities provider’s stock valued at $26,000 after buying an additional 211 shares in the last quarter. Bell Investment Advisors Inc acquired a new position in Entergy during the second quarter worth $28,000. Dynamic Wealth Strategies LLC acquired a new position in Entergy during the first quarter worth $30,000. Finally, Pingora Partners LLC purchased a new position in Entergy in the second quarter worth $30,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Entergy Stock Performance

Entergy stock opened at $109.93 on Monday. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.91 and a quick ratio of 0.70. Entergy Corporation has a fifty-two week low of $90.87 and a fifty-two week high of $118.44. The firm’s 50 day simple moving average is $104.36 and its 200-day simple moving average is $107.30. The company has a market cap of $51.30 billion, a P/E ratio of 28.19, a price-to-earnings-growth ratio of 2.46 and a beta of 0.46.

Entergy (NYSE:ETR) last posted its earnings results on Monday, November 2nd. The utilities provider reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.25. Entergy had a net margin of 13.40% and a return on equity of 10.53%. As a group, equities research analysts predict that Entergy Corporation will post 4.40 EPS for the current year.

Entergy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be paid a $0.68 dividend. The ex-dividend date of this dividend is Friday, November 13th. This is a boost from Entergy’s previous quarterly dividend of $0.64. This represents a $2.72 annualized dividend and a yield of 2.5%. Entergy’s payout ratio is currently 65.64%.

Insider Activity at Entergy

In related news, insider Laura Landreaux sold 5,600 shares of the company’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $106.20, for a total value of $594,720.00. Following the completion of the transaction, the insider directly owned 22,589 shares of the company’s stock, valued at approximately $2,398,951.80. This represents a 19.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ralph Lewis Ropp acquired 1,000 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was bought at an average price of $106.08 per share, with a total value of $106,080.00. Following the acquisition, the director directly owned 3,423 shares in the company, valued at $363,111.84. This represents a 41.27% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.21% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. BMO Capital Markets lowered their target price on Entergy from $124.00 to $123.00 and set an “outperform” rating on the stock in a report on Thursday, July 30th. Mizuho dropped their target price on shares of Entergy from $122.00 to $121.00 and set an “outperform” rating for the company in a report on Thursday, July 30th. Scotiabank cut their price objective on Entergy from $129.00 to $121.00 and set an “outperform” rating for the company in a research report on Wednesday, September 30th. JPMorgan Chase & Co. reduced their target price on Entergy from $137.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 13th. Finally, Wall Street Zen downgraded Entergy from a “hold” rating to a “sell” rating in a research report on Sunday, August 9th. Twenty investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $121.25.

About Entergy

Entergy Corporation is an integrated energy company that operates as a regulated electric utility. Through its operating companies, the company generates, transmits and distributes electricity to residential, commercial, industrial and governmental customers. Its generation portfolio includes nuclear, natural gas, renewable and other power resources, while its transmission and distribution networks deliver electricity across its service territories.

Entergy serves customers in Arkansas, Louisiana, Mississippi and Texas, including the New Orleans area through Entergy New Orleans.