Summit Global Investments Makes New Investment in Entergy Co. (NYSE:ETR)

Summit Global Investments acquired a new stake in Entergy Co. (NYSE:ETR) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 10,624 shares of the utilities provider’s stock, valued at approximately $1,075,000.

A number of other institutional investors also recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its position in Entergy by 157.1% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 270 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 165 shares during the last quarter. Fortis Group Advisors LLC acquired a new position in shares of Entergy during the third quarter valued at $32,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Entergy in the third quarter valued at about $32,000. CVA Family Office LLC acquired a new stake in Entergy in the fourth quarter worth about $41,000. Finally, Millburn Ridgefield Corp bought a new stake in Entergy during the 3rd quarter worth about $43,000. 88.07% of the stock is owned by institutional investors.

Entergy Stock Up 0.9 %

NYSE ETR traded up $0.92 on Friday, reaching $108.08. The company had a trading volume of 1,720,555 shares, compared to its average volume of 1,683,860. The company’s fifty day moving average is $103.91 and its 200-day moving average is $101.03. Entergy Co. has a 1-year low of $87.10 and a 1-year high of $108.45. The firm has a market capitalization of $23.05 billion, a price-to-earnings ratio of 10.84, a price-to-earnings-growth ratio of 1.99 and a beta of 0.69. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.45 and a current ratio of 0.69.

Entergy (NYSE:ETR) last posted its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.36). The firm had revenue of $31.17 billion for the quarter, compared to the consensus estimate of $3.16 billion. Entergy had a return on equity of 10.20% and a net margin of 17.75%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.14 earnings per share. On average, research analysts forecast that Entergy Co. will post 7.22 earnings per share for the current fiscal year.

Entergy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Thursday, May 2nd will be given a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date of this dividend is Wednesday, May 1st. Entergy’s dividend payout ratio (DPR) is currently 45.34%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. KeyCorp lifted their price target on shares of Entergy from $108.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Barclays cut their price target on Entergy from $108.00 to $107.00 and set an “equal weight” rating on the stock in a research note on Monday, April 15th. BMO Capital Markets upped their price objective on Entergy from $110.00 to $113.00 and gave the company an “outperform” rating in a report on Monday, February 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $117.00 price target on shares of Entergy in a research report on Monday, February 26th. Finally, Scotiabank decreased their price objective on shares of Entergy from $111.00 to $104.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $109.45.

Insider Buying and Selling at Entergy

In other news, insider Deanna D. Rodriguez sold 1,500 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $101.23, for a total transaction of $151,845.00. Following the completion of the transaction, the insider now directly owns 3,442 shares in the company, valued at approximately $348,433.66. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Deanna D. Rodriguez sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $101.23, for a total transaction of $151,845.00. Following the sale, the insider now owns 3,442 shares in the company, valued at approximately $348,433.66. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kimberly Cook-Nelson sold 2,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $100.35, for a total value of $200,700.00. Following the completion of the sale, the executive vice president now directly owns 16,037 shares of the company’s stock, valued at approximately $1,609,312.95. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,000 shares of company stock worth $1,226,685. Insiders own 0.39% of the company’s stock.

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.