Equitable Trust Co. Acquires 1,868 Shares of Entergy Co. (NYSE:ETR)

Equitable Trust Co. increased its holdings in Entergy Co. (NYSE:ETR) by 4.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,626 shares of the utilities provider’s stock after buying an additional 1,868 shares during the period. Equitable Trust Co.’s holdings in Entergy were worth $4,347,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Iron Horse Wealth Management LLC bought a new position in Entergy in the second quarter worth about $25,000. Tidemark LLC bought a new position in shares of Entergy during the 4th quarter worth approximately $25,000. Heritage Wealth Advisors lifted its position in Entergy by 2,172.7% during the first quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 239 shares during the last quarter. American National Bank boosted its stake in Entergy by 93.7% in the second quarter. American National Bank now owns 277 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 134 shares in the last quarter. Finally, TruNorth Capital Management LLC purchased a new position in Entergy in the second quarter worth $32,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Entergy Price Performance

ETR stock traded up $0.86 during trading on Friday, hitting $120.69. The stock had a trading volume of 1,364,901 shares, compared to its average volume of 1,606,046. The company’s 50-day moving average price is $113.05 and its two-hundred day moving average price is $108.36. Entergy Co. has a twelve month low of $87.10 and a twelve month high of $123.61. The stock has a market capitalization of $25.81 billion, a P/E ratio of 12.11, a PEG ratio of 2.28 and a beta of 0.71. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.62.

Entergy (NYSE:ETR) last released its earnings results on Thursday, August 1st. The utilities provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.16. Entergy had a net margin of 14.75% and a return on equity of 10.10%. The business had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the prior year, the firm earned $1.84 earnings per share. As a group, research analysts predict that Entergy Co. will post 7.2 EPS for the current fiscal year.

Entergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 13th will be issued a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend is Tuesday, August 13th. Entergy’s dividend payout ratio is presently 45.34%.

Insider Buying and Selling

In other news, CEO Andrew S. Marsh sold 3,200 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $121.46, for a total value of $388,672.00. Following the transaction, the chief executive officer now owns 150,731 shares of the company’s stock, valued at approximately $18,307,787.26. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Entergy news, CEO Andrew S. Marsh sold 3,200 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $121.46, for a total transaction of $388,672.00. Following the transaction, the chief executive officer now directly owns 150,731 shares in the company, valued at $18,307,787.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew S. Marsh sold 600 shares of Entergy stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $120.03, for a total value of $72,018.00. Following the completion of the sale, the chief executive officer now directly owns 150,731 shares of the company’s stock, valued at $18,092,241.93. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,272 shares of company stock worth $1,781,806. Company insiders own 0.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ETR shares. Argus upgraded Entergy to a “strong-buy” rating in a report on Wednesday. Bank of America raised their price target on Entergy from $135.00 to $138.00 and gave the stock a “buy” rating in a report on Thursday. JPMorgan Chase & Co. boosted their target price on shares of Entergy from $131.00 to $141.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Guggenheim lifted their price target on Entergy from $118.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, BMO Capital Markets boosted their target price on shares of Entergy from $124.00 to $131.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $123.04.

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.