Lake Street Advisors Group LLC Acquires New Position in Entergy Co. (NYSE:ETR)

Lake Street Advisors Group LLC bought a new position in shares of Entergy Co. (NYSE:ETR) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,047 shares of the utilities provider’s stock, valued at approximately $269,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Entergy by 12.4% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,926,492 shares of the utilities provider’s stock valued at $741,135,000 after acquiring an additional 763,834 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Entergy by 47.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,479,044 shares of the utilities provider’s stock valued at $693,260,000 after buying an additional 2,075,776 shares during the period. Capital International Investors grew its position in shares of Entergy by 64.2% during the first quarter. Capital International Investors now owns 4,170,045 shares of the utilities provider’s stock worth $440,690,000 after buying an additional 1,630,057 shares in the last quarter. ClearBridge Investments Ltd increased its stake in shares of Entergy by 0.6% during the second quarter. ClearBridge Investments Ltd now owns 3,137,110 shares of the utilities provider’s stock worth $335,671,000 after buying an additional 20,025 shares during the period. Finally, Capital Research Global Investors lifted its stake in Entergy by 22.5% in the first quarter. Capital Research Global Investors now owns 2,753,248 shares of the utilities provider’s stock worth $290,963,000 after acquiring an additional 505,705 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. KeyCorp increased their price objective on shares of Entergy from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Argus upgraded Entergy to a “strong-buy” rating in a research note on Wednesday, August 28th. Royal Bank of Canada upped their price objective on Entergy from $137.00 to $140.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Wells Fargo & Company raised their target price on Entergy from $125.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Barclays lowered their price target on Entergy from $138.00 to $137.00 and set an “overweight” rating for the company in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $131.19.

Insider Buying and Selling at Entergy

In other news, CEO Andrew S. Marsh sold 3,200 shares of Entergy stock in a transaction dated 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 $18,307,787.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Andrew S. Marsh sold 3,200 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $121.46, for a total value of $388,672.00. Following the completion of the sale, the chief executive officer now owns 150,731 shares in the company, valued at $18,307,787.26. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Peter S. Norgeot, Jr. sold 11,472 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $115.16, for a total value of $1,321,115.52. Following the transaction, the chief operating officer now owns 37,888 shares in the company, valued at $4,363,182.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,810 shares of company stock valued at $6,140,626. 0.39% of the stock is owned by company insiders.

Entergy Trading Down 1.5 %

NYSE ETR opened at $135.38 on Friday. The firm’s fifty day moving average is $127.51 and its two-hundred day moving average is $115.83. Entergy Co. has a one year low of $90.78 and a one year high of $138.24. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.62 and a current ratio of 0.94. The firm has a market cap of $28.95 billion, a PE ratio of 16.19, a P/E/G ratio of 2.55 and a beta of 0.74.

Entergy (NYSE:ETR) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.92 EPS for the quarter, beating the consensus estimate of $1.76 by $0.16. Entergy had a return on equity of 10.10% and a net margin of 14.75%. The firm had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the prior year, the business earned $1.84 EPS. Analysts expect that Entergy Co. will post 7.22 earnings per share for the current year.

Entergy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 13th will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.55%. This is a positive change from Entergy’s previous quarterly dividend of $1.13. Entergy’s dividend payout ratio (DPR) is 54.07%.

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.