Sand Hill Global Advisors LLC Acquires New Stake in Entergy Corporation $ETR

Sand Hill Global Advisors LLC acquired a new stake in Entergy Corporation (NYSE:ETR) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 31,861 shares of the utilities provider’s stock, valued at approximately $2,724,000.

Other institutional investors have also bought and sold shares of the company. Glen Eagle Advisors LLC lifted its stake in Entergy by 100.0% in the fourth quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 180 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Entergy in the first quarter valued at approximately $28,000. Fourth Dimension Wealth LLC purchased a new position in Entergy in the fourth quarter valued at approximately $30,000. Grove Bank & Trust lifted its stake in Entergy by 188.5% in the first quarter. Grove Bank & Trust now owns 352 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 230 shares during the last quarter. Finally, Wayfinding Financial LLC purchased a new position in Entergy in the first quarter valued at approximately $32,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Wall Street Analyst Weigh In

ETR has been the topic of several research analyst reports. Morgan Stanley dropped their price objective on Entergy from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 18th. Barclays dropped their target price on Entergy from $91.00 to $87.00 and set an “overweight” rating on the stock in a research report on Thursday, July 10th. KeyCorp restated an “overweight” rating and set a $96.00 target price (up previously from $88.00) on shares of Entergy in a research report on Thursday, July 31st. BMO Capital Markets increased their target price on Entergy from $89.00 to $93.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. increased their target price on Entergy from $100.00 to $102.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $88.07.

Entergy Trading Down 1.4%

Shares of ETR stock opened at $89.05 on Monday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.80. Entergy Corporation has a 52-week low of $58.46 and a 52-week high of $92.40. The company has a market capitalization of $39.75 billion, a PE ratio of 22.18, a price-to-earnings-growth ratio of 2.42 and a beta of 0.57. The business’s fifty day moving average is $85.15 and its 200 day moving average is $83.87.

Entergy (NYSE:ETR) last issued its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.14. The company had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.11 billion. Entergy had a return on equity of 11.52% and a net margin of 14.35%. During the same quarter last year, the business posted $1.92 earnings per share. On average, equities research analysts anticipate that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Wednesday, August 13th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Wednesday, August 13th. Entergy’s dividend payout ratio is currently 59.85%.

Insider Buying and Selling

In related news, insider Haley Fisackerly sold 4,463 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $90.50, for a total value of $403,901.50. Following the transaction, the insider owned 3,318 shares of the company’s stock, valued at $300,279. This represents a 57.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is currently owned by corporate insiders.

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.