Entergy Corporation $ETR Stock Holdings Increased by Elite Wealth Management Inc.

Elite Wealth Management Inc. grew its holdings in Entergy Corporation (NYSE:ETR) by 116.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 39,743 shares of the utilities provider’s stock after purchasing an additional 21,370 shares during the quarter. Elite Wealth Management Inc.’s holdings in Entergy were worth $3,945,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ETR. Brighton Jones LLC boosted its holdings in Entergy by 2.9% in the third quarter. Brighton Jones LLC now owns 13,664 shares of the utilities provider’s stock worth $1,356,000 after purchasing an additional 388 shares in the last quarter. Candriam S.C.A. raised its holdings in Entergy by 83.3% during the third quarter. Candriam S.C.A. now owns 11,802 shares of the utilities provider’s stock valued at $1,176,000 after buying an additional 5,364 shares in the last quarter. Ethic Inc. lifted its position in shares of Entergy by 3.8% in the third quarter. Ethic Inc. now owns 24,288 shares of the utilities provider’s stock worth $2,411,000 after buying an additional 886 shares during the last quarter. StoneX Group Inc. lifted its position in shares of Entergy by 8.2% in the third quarter. StoneX Group Inc. now owns 31,653 shares of the utilities provider’s stock worth $3,156,000 after buying an additional 2,394 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its position in shares of Entergy by 2.2% in the third quarter. Pictet Asset Management Holding SA now owns 2,592,948 shares of the utilities provider’s stock worth $257,376,000 after buying an additional 55,021 shares during the last quarter. 88.07% of the stock is owned by institutional investors.

Entergy Stock Performance

NYSE:ETR opened at $110.42 on Monday. The firm has a market capitalization of $52.76 billion, a PE ratio of 25.38, a PEG ratio of 2.47 and a beta of 0.44. Entergy Corporation has a 1 year low of $90.87 and a 1 year high of $118.44. The company has a current ratio of 1.18, a quick ratio of 0.93 and a debt-to-equity ratio of 1.70. The firm’s fifty day simple moving average is $104.77 and its 200 day simple moving average is $107.68.

Entergy (NYSE:ETR) last released its earnings results on Monday, November 2nd. The utilities provider reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.25. Entergy had a net margin of 14.63% and a return on equity of 11.44%. The firm had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same quarter in the previous year, the business earned $1.53 EPS. On average, sell-side analysts anticipate that Entergy Corporation will post 4.41 EPS for the current year.

Entergy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be paid a $0.68 dividend. The ex-dividend date is Friday, November 13th. This is a boost from Entergy’s previous quarterly dividend of $0.64. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.5%. Entergy’s dividend payout ratio is presently 58.85%.

Analyst Ratings Changes

ETR has been the subject of several recent analyst reports. Wall Street Zen upgraded Entergy from a “sell” rating to a “hold” rating in a research note on Saturday. Mizuho lowered their price objective on Entergy from $122.00 to $121.00 and set an “outperform” rating on the stock in a report on Thursday, July 30th. BTIG Research reissued a “buy” rating and issued a $124.00 price objective (up from $117.00) on shares of Entergy in a research note on Tuesday, November 3rd. Jefferies Financial Group reduced their target price on Entergy from $133.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, October 20th. Finally, Scotiabank reduced their target price on Entergy from $129.00 to $121.00 and set an “outperform” rating for the company in a report on Wednesday, September 30th. Twenty equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $121.57.

Insider Activity at Entergy

In related news, insider Laura Landreaux sold 5,600 shares of the business’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $106.20, for a total transaction of $594,720.00. Following the completion of the transaction, the insider owned 22,589 shares of the company’s stock, valued at approximately $2,398,951.80. The trade was a 19.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.21% of the company’s stock.

Entergy Company Profile

Entergy Corporation is an investor-owned energy company headquartered in New Orleans. Its primary business is providing regulated electric utility service to residential, commercial and industrial customers.

Through its utility subsidiaries, Entergy serves communities in Arkansas, Louisiana, Mississippi and Texas. Its operations include generating, transmitting and distributing electricity, with power produced from a mix of sources that includes nuclear energy.

The company traces its corporate history to Middle South Utilities, which adopted the Entergy name in 1989.