Global Retirement Partners LLC Invests $1.28 Million in Entergy Corporation $ETR

Global Retirement Partners LLC bought a new position in shares of Entergy Corporation (NYSE:ETR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 15,448 shares of the utilities provider’s stock, valued at approximately $1,284,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Prudential Financial Inc. raised its stake in shares of Entergy by 10.7% during the 2nd quarter. Prudential Financial Inc. now owns 262,414 shares of the utilities provider’s stock valued at $21,812,000 after buying an additional 25,367 shares during the last quarter. Coldstream Capital Management Inc. grew its holdings in Entergy by 1.5% during the second quarter. Coldstream Capital Management Inc. now owns 13,522 shares of the utilities provider’s stock worth $1,124,000 after acquiring an additional 205 shares during the period. Charles Schwab Investment Management Inc. raised its position in Entergy by 3.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 2,884,249 shares of the utilities provider’s stock valued at $239,739,000 after acquiring an additional 97,765 shares in the last quarter. Rhumbline Advisers lifted its holdings in Entergy by 0.3% in the second quarter. Rhumbline Advisers now owns 801,256 shares of the utilities provider’s stock valued at $66,600,000 after acquiring an additional 2,641 shares during the period. Finally, Mufg Securities Americas Inc. boosted its position in Entergy by 30.3% in the 2nd quarter. Mufg Securities Americas Inc. now owns 9,892 shares of the utilities provider’s stock worth $822,000 after purchasing an additional 2,302 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ETR. Scotiabank set a $105.00 target price on shares of Entergy and gave the company an “outperform” rating in a report on Friday, October 3rd. Wells Fargo & Company upgraded shares of Entergy to a “strong-buy” rating in a research report on Tuesday, October 28th. Morgan Stanley set a $91.00 price objective on shares of Entergy in a research report on Thursday, November 20th. KeyCorp reissued an “overweight” rating and set a $106.00 target price (up from $96.00) on shares of Entergy in a research note on Wednesday, October 15th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Entergy in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $102.47.

Entergy Stock Performance

Shares of NYSE:ETR opened at $96.73 on Thursday. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.71 and a quick ratio of 0.52. Entergy Corporation has a 1 year low of $73.15 and a 1 year high of $98.58. The firm has a market capitalization of $43.20 billion, a PE ratio of 23.88, a P/E/G ratio of 2.40 and a beta of 0.63. The business’s 50 day moving average price is $94.88 and its 200-day moving average price is $88.71.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Friday, July 8th. The utilities provider reported $0.71 earnings per share for the quarter. Entergy had a return on equity of 11.53% and a net margin of 14.26%.The company had revenue of $2.37 billion for the quarter. As a group, equities research analysts expect that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Thursday, November 13th will be paid a $0.64 dividend. This is an increase from Entergy’s previous quarterly dividend of $0.60. This represents a $2.56 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Thursday, November 13th. Entergy’s payout ratio is 63.21%.

Insider Buying and Selling

In other Entergy news, Director Ralph Lewis Ropp bought 1,000 shares of the firm’s stock in a transaction on Wednesday, November 12th. The shares were acquired at an average cost of $96.69 per share, with a total value of $96,690.00. Following the purchase, the director directly owned 1,050 shares of the company’s stock, valued at $101,524.50. This trade represents a 2,000.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Haley Fisackerly sold 5,136 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $96.50, for a total value of $495,624.00. Following the transaction, the insider owned 7,899 shares in the company, valued at approximately $762,253.50. This represents a 39.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 10,179 shares of company stock worth $981,707. 0.39% of the stock is owned by 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.