Claro Advisors LLC Acquires New Holdings in Entergy Co. (NYSE:ETR)

Claro Advisors LLC bought a new position in Entergy Co. (NYSE:ETR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,299 shares of the utilities provider’s stock, valued at approximately $303,000.

Other hedge funds also recently modified their holdings of the company. OneDigital Investment Advisors LLC boosted its holdings in Entergy by 2.1% in the third quarter. OneDigital Investment Advisors LLC now owns 3,427 shares of the utilities provider’s stock worth $451,000 after purchasing an additional 69 shares in the last quarter. Bank & Trust Co boosted its stake in shares of Entergy by 12.8% during the 3rd quarter. Bank & Trust Co now owns 795 shares of the utilities provider’s stock worth $105,000 after acquiring an additional 90 shares in the last quarter. Prossimo Advisors LLC increased its holdings in shares of Entergy by 1.5% during the 3rd quarter. Prossimo Advisors LLC now owns 5,971 shares of the utilities provider’s stock valued at $786,000 after acquiring an additional 90 shares during the last quarter. HBK Sorce Advisory LLC increased its holdings in shares of Entergy by 2.3% during the 2nd quarter. HBK Sorce Advisory LLC now owns 4,075 shares of the utilities provider’s stock valued at $436,000 after acquiring an additional 92 shares during the last quarter. Finally, Alliance Wealth Advisors LLC raised its stake in shares of Entergy by 3.7% in the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,591 shares of the utilities provider’s stock valued at $341,000 after acquiring an additional 92 shares in the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Insider Activity at Entergy

In other news, insider Eliecer Viamontes sold 5,166 shares of Entergy stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $120.00, for a total value of $619,920.00. Following the completion of the transaction, the insider now owns 5,117 shares in the company, valued at approximately $614,040. The trade was a 50.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Andrew S. Marsh sold 600 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $120.03, for a total value of $72,018.00. Following the sale, the chief executive officer now owns 150,731 shares in the company, valued at approximately $18,092,241.93. This trade represents a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 40,472 shares of company stock valued at $5,076,328 in the last 90 days. 0.39% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the company. StockNews.com upgraded Entergy from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. BMO Capital Markets lowered their target price on shares of Entergy from $166.00 to $159.00 and set an “outperform” rating on the stock in a research note on Monday. Argus upgraded shares of Entergy to a “strong-buy” rating in a report on Wednesday, August 28th. Royal Bank of Canada upped their price target on shares of Entergy from $137.00 to $140.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, JPMorgan Chase & Co. lifted their price objective on Entergy from $131.00 to $141.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $150.42.

Entergy Stock Performance

Shares of NYSE ETR opened at $149.20 on Tuesday. The firm has a market capitalization of $31.99 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 2.49 and a beta of 0.71. Entergy Co. has a one year low of $96.15 and a one year high of $156.85. The business has a fifty day simple moving average of $135.56 and a 200 day simple moving average of $120.49. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 1.77.

Entergy (NYSE:ETR) last issued its earnings results on Thursday, October 31st. The utilities provider reported $2.99 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.08. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.46 billion. Entergy had a net margin of 14.83% and a return on equity of 9.53%. During the same period in the previous year, the business earned $3.27 EPS. Sell-side analysts expect that Entergy Co. will post 7.21 EPS for the current year.

Entergy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 13th will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 3.22%. The ex-dividend date is Wednesday, November 13th. This is an increase from Entergy’s previous quarterly dividend of $1.13. Entergy’s dividend payout ratio (DPR) is 58.47%.

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.