Tritonpoint Wealth LLC Buys 6,213 Shares of Entergy Corporation (NYSE:ETR)

Tritonpoint Wealth LLC lifted its position in Entergy Corporation (NYSE:ETR) by 105.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,105 shares of the utilities provider’s stock after acquiring an additional 6,213 shares during the period. Tritonpoint Wealth LLC’s holdings in Entergy were worth $918,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Legacy Investment Solutions LLC bought a new position in shares of Entergy during the third quarter worth $27,000. Cetera Trust Company N.A bought a new position in Entergy during the third quarter worth about $29,000. Fortitude Family Office LLC grew its stake in Entergy by 423.8% in the third quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 178 shares during the period. IFS Advisors LLC bought a new stake in shares of Entergy in the fourth quarter worth about $30,000. Finally, Ulland Investment Advisors LLC raised its position in shares of Entergy by 100.0% during the fourth quarter. Ulland Investment Advisors LLC now owns 400 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 88.07% of the company’s stock.

Insider Buying and Selling at Entergy

In related news, insider Eliecer Viamontes sold 400 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $73.50, for a total value of $29,400.00. Following the completion of the sale, the insider now directly owns 8,346 shares in the company, valued at $613,431. The trade was a 4.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Haley Fisackerly sold 8,268 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $74.52, for a total transaction of $616,090.02. Following the completion of the transaction, the insider now owns 4,032 shares in the company, valued at $300,444.48. This trade represents a 67.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,756 shares of company stock worth $1,095,637 over the last 90 days. Company insiders own 0.39% of the company’s stock.

Wall Street Analysts Forecast Growth

ETR has been the subject of several research analyst reports. Scotiabank decreased their price objective on Entergy from $165.00 to $82.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 7th. Bank of America downgraded shares of Entergy from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $69.00 to $77.00 in a research report on Monday, November 4th. Mizuho boosted their price objective on shares of Entergy from $69.00 to $82.50 and gave the company an “outperform” rating in a research report on Monday, November 4th. Guggenheim increased their target price on Entergy from $72.50 to $82.50 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Wells Fargo & Company upped their price objective on Entergy from $68.50 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Entergy presently has an average rating of “Moderate Buy” and an average price target of $79.81.

Entergy Trading Down 0.0 %

Shares of Entergy stock opened at $81.17 on Monday. Entergy Corporation has a 12-month low of $48.08 and a 12-month high of $84.26. 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 business’s 50 day moving average is $77.23 and its 200-day moving average is $68.80. The stock has a market cap of $34.81 billion, a P/E ratio of 19.77, a P/E/G ratio of 2.44 and a beta of 0.71.

Entergy (NYSE:ETR) last announced its quarterly earnings results on Thursday, October 31st. The utilities provider reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.04. The firm had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.46 billion. Entergy had a net margin of 14.83% and a return on equity of 9.53%. During the same quarter last year, the company posted $1.64 earnings per share. Equities research analysts predict that Entergy Corporation will post 3.59 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 10th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.96%. Entergy’s dividend payout ratio (DPR) is presently 58.39%.

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.