Legacy Financial Advisors Inc. Boosts Stock Position in Entergy Co. (NYSE:ETR)

Legacy Financial Advisors Inc. boosted its holdings in shares of Entergy Co. (NYSE:ETR) by 53.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,071 shares of the utilities provider’s stock after purchasing an additional 3,851 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Entergy were worth $1,120,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its holdings in shares of Entergy by 157.1% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 270 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 165 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Entergy in the 3rd quarter valued at approximately $32,000. Fortis Group Advisors LLC bought a new stake in shares of Entergy in the 3rd quarter valued at approximately $32,000. CVA Family Office LLC bought a new stake in shares of Entergy in the 4th quarter valued at approximately $41,000. Finally, Millburn Ridgefield Corp bought a new stake in shares of Entergy in the 3rd quarter valued at approximately $43,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Entergy Stock Performance

Shares of ETR stock traded up $0.92 during mid-day trading on Friday, reaching $108.08. The stock had a trading volume of 1,720,555 shares, compared to its average volume of 1,683,860. The firm’s 50 day simple moving average is $104.02 and its 200 day simple moving average is $101.12. The company has a quick ratio of 0.45, a current ratio of 0.69 and a debt-to-equity ratio of 1.68. Entergy Co. has a one year low of $87.10 and a one year high of $108.45. The firm has a market cap of $23.05 billion, a PE ratio of 10.84, a P/E/G ratio of 2.01 and a beta of 0.69.

Entergy (NYSE:ETR) last posted its earnings results on Wednesday, April 24th. The utilities provider reported $1.08 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.36). The company 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%. Entergy’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business earned $1.14 EPS. On average, analysts forecast that Entergy Co. will post 7.22 EPS for the current year.

Entergy Announces Dividend

The business 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 dividend of $1.13 per share. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $4.52 annualized dividend and a dividend yield of 4.18%. Entergy’s dividend payout ratio (DPR) is presently 45.34%.

Insider Buying and Selling

In related news, EVP Marcus V. Brown sold 8,500 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $102.84, for a total transaction of $874,140.00. Following the completion of the sale, the executive vice president now directly owns 9,911 shares of the company’s stock, valued at approximately $1,019,247.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Kimberly Cook-Nelson sold 2,000 shares of Entergy stock in a transaction on Friday, March 1st. The stock was 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Marcus V. Brown sold 8,500 shares of Entergy stock in a transaction on Friday, March 15th. The shares were sold at an average price of $102.84, for a total value of $874,140.00. Following the completion of the sale, the executive vice president now directly owns 9,911 shares of the company’s stock, valued at $1,019,247.24. The disclosure for this sale can be found here. Insiders sold 12,000 shares of company stock worth $1,226,685 in the last 90 days. 0.39% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.