Element Wealth LLC Increases Holdings in Entergy Corporation (NYSE:ETR)

Element Wealth LLC grew its holdings in shares of Entergy Corporation (NYSE:ETR) by 100.1% in the 4th quarter, HoldingsChannel reports. The firm owned 3,662 shares of the utilities provider’s stock after acquiring an additional 1,832 shares during the quarter. Element Wealth LLC’s holdings in Entergy were worth $278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Fortis Group Advisors LLC grew its stake in shares of Entergy by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 172 shares during the period. Legacy Investment Solutions LLC bought a new position in shares of Entergy during the 3rd quarter worth $27,000. Fortitude Family Office LLC grew 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 acquiring an additional 178 shares during the period. IFS Advisors LLC bought a new position in shares of Entergy during the 4th quarter worth $30,000. Finally, Ulland Investment Advisors LLC grew its stake in shares of Entergy by 100.0% during the 4th quarter. Ulland Investment Advisors LLC now owns 400 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 200 shares during the period. 88.07% of the stock is owned by hedge funds and other institutional investors.

Entergy Stock Performance

Shares of ETR opened at $84.94 on Friday. The company has a market cap of $36.56 billion, a PE ratio of 34.88, a price-to-earnings-growth ratio of 2.34 and a beta of 0.72. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 1.81. The stock has a 50-day moving average price of $79.24 and a 200-day moving average price of $71.30. Entergy Corporation has a 12-month low of $49.80 and a 12-month high of $88.38.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $3.24 billion. Entergy had a return on equity of 10.68% and a net margin of 8.90%. During the same quarter last year, the company posted $0.26 EPS. As a group, equities analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 10th will be issued a dividend of $0.60 per share. The ex-dividend date is Monday, February 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.83%. Entergy’s dividend payout ratio is 98.56%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. LADENBURG THALM/SH SH upgraded Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price target for the company in a research note on Thursday, January 30th. Morgan Stanley upgraded Entergy from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $58.00 to $75.00 in a research note on Monday, November 4th. Scotiabank cut their target price on Entergy from $165.00 to $82.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 7th. Bank of America downgraded Entergy from a “buy” rating to a “neutral” rating and raised their target price for the stock from $69.00 to $77.00 in a research note on Monday, November 4th. Finally, UBS Group raised their target price on Entergy from $72.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $82.14.

Insider Activity at Entergy

In related news, insider Deanna D. Rodriguez sold 6,088 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $73.94, for a total transaction of $450,146.72. Following the transaction, the insider now directly owns 3,952 shares of the company’s stock, valued at approximately $292,210.88. This trade represents a 60.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.39% of the stock is currently owned by 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.