Midwest Trust Co Acquires New Shares in Entergy Corporation $ETR

Midwest Trust Co purchased a new position in Entergy Corporation (NYSE:ETR) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 263,784 shares of the utilities provider’s stock, valued at approximately $21,926,000.

Several other institutional investors have also modified their holdings of the business. TD Asset Management Inc grew its position in shares of Entergy by 964.8% in the 1st quarter. TD Asset Management Inc now owns 3,055,698 shares of the utilities provider’s stock valued at $261,232,000 after purchasing an additional 2,768,734 shares during the period. Vanguard Group Inc. raised its holdings in Entergy by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 54,828,994 shares of the utilities provider’s stock worth $4,687,331,000 after buying an additional 2,695,348 shares during the period. Alkeon Capital Management LLC bought a new position in Entergy in the first quarter valued at approximately $194,429,000. Nuveen LLC acquired a new position in shares of Entergy in the first quarter valued at approximately $123,648,000. Finally, Zimmer Partners LP boosted its holdings in shares of Entergy by 285.5% in the first quarter. Zimmer Partners LP now owns 1,133,474 shares of the utilities provider’s stock valued at $96,901,000 after buying an additional 839,474 shares during the period. Institutional investors own 88.07% of the company’s stock.

Entergy Stock Up 1.5%

Entergy stock opened at $97.12 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.52 and a debt-to-equity ratio of 1.62. Entergy Corporation has a 1-year low of $72.64 and a 1-year high of $98.58. The company has a fifty day simple moving average of $93.06 and a 200 day simple moving average of $87.68. The company has a market cap of $43.37 billion, a P/E ratio of 23.98, a price-to-earnings-growth ratio of 2.40 and a beta of 0.63.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Friday, July 8th. The utilities provider reported $0.71 EPS for the quarter. The firm had revenue of $2.37 billion for the quarter. Entergy had a net margin of 14.26% and a return on equity of 11.53%. Research analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Increases Dividend

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

Insider Buying and Selling

In other news, insider Haley Fisackerly sold 5,136 shares of the 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 completion of the sale, the insider owned 7,899 shares of the company’s stock, valued at approximately $762,253.50. This represents a 39.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Anastasia Minor sold 5,000 shares of the firm’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $96.39, for a total transaction of $481,950.00. Following the completion of the transaction, the insider directly owned 10,122 shares of the company’s stock, valued at $975,659.58. This represents a 33.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 10,324 shares of company stock valued at $994,902. Corporate insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Royal Bank Of Canada upgraded shares of Entergy to a “moderate buy” rating in a report on Tuesday, October 28th. Scotiabank set a $105.00 target price on Entergy and gave the stock an “outperform” rating in a report on Friday, October 3rd. Wells Fargo & Company raised Entergy to a “strong-buy” rating in a research note on Tuesday, October 28th. BMO Capital Markets restated an “outperform” rating and issued a $104.00 price target (up from $96.00) on shares of Entergy in a report on Tuesday, October 14th. Finally, BTIG Research raised Entergy to a “strong-buy” rating in a research report on Wednesday, October 22nd. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $102.37.

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.