Tower View Wealth Management LLC Has $31,000 Stock Position in Entergy Corporation (NYSE:ETR)

Tower View Wealth Management LLC lifted its stake in Entergy Corporation (NYSE:ETR) by 99.5% during the 4th quarter, Holdings Channel reports. The firm owned 413 shares of the utilities provider’s stock after acquiring an additional 206 shares during the period. Tower View Wealth Management LLC’s holdings in Entergy were worth $31,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ETR. abrdn plc boosted its position in shares of Entergy by 1.9% in the 3rd quarter. abrdn plc now owns 107,966 shares of the utilities provider’s stock worth $14,200,000 after purchasing an additional 1,984 shares during the last quarter. SteelPeak Wealth LLC bought a new position in Entergy during the third quarter worth about $219,000. JFS Wealth Advisors LLC lifted its holdings in Entergy by 251.4% during the third quarter. JFS Wealth Advisors LLC now owns 520 shares of the utilities provider’s stock worth $68,000 after acquiring an additional 372 shares in the last quarter. Financial Advocates Investment Management lifted its holdings in Entergy by 4.5% during the third quarter. Financial Advocates Investment Management now owns 2,206 shares of the utilities provider’s stock worth $290,000 after acquiring an additional 95 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in Entergy by 16.3% during the third quarter. US Bancorp DE now owns 28,782 shares of the utilities provider’s stock worth $3,788,000 after acquiring an additional 4,030 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on ETR shares. BMO Capital Markets lifted their price target on Entergy from $79.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Scotiabank dropped their price target on Entergy from $165.00 to $82.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 7th. Wells Fargo & Company lifted their target price on Entergy from $85.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. LADENBURG THALM/SH SH raised Entergy from a “neutral” rating to a “buy” rating and set a $86.50 target price on the stock in a research report on Thursday, January 30th. Finally, Barclays lifted their target price on Entergy from $68.50 to $76.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Entergy presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.14.

Entergy Trading Up 2.4 %

Shares of NYSE:ETR opened at $87.29 on Friday. Entergy Corporation has a 12-month low of $49.80 and a 12-month high of $88.38. The stock has a market cap of $37.57 billion, a PE ratio of 35.85, a P/E/G ratio of 2.34 and a beta of 0.72. The business has a 50 day moving average of $80.59 and a 200-day moving average of $72.53. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 1.81.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.03. The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $3.24 billion. Entergy had a return on equity of 10.68% and a net margin of 8.90%. During the same period in the previous year, the company posted $0.26 earnings per share. As a group, equities research analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 10th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Monday, February 10th. Entergy’s dividend payout ratio (DPR) is currently 98.77%.

Insider Activity at Entergy

In other Entergy news, insider Deanna D. Rodriguez sold 6,088 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $73.94, for a total transaction of $450,146.72. Following the completion of the sale, the insider now directly owns 3,952 shares in the company, valued at $292,210.88. This represents a 60.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.39% of the stock is currently owned by corporate insiders.

Entergy 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.