Palumbo Wealth Management LLC Acquires 707 Shares of Entergy Co. (NYSE:ETR)

Palumbo Wealth Management LLC boosted its holdings in shares of Entergy Co. (NYSE:ETR) by 3.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,468 shares of the utilities provider’s stock after acquiring an additional 707 shares during the quarter. Entergy makes up approximately 1.2% of Palumbo Wealth Management LLC’s portfolio, making the stock its 22nd largest holding. Palumbo Wealth Management LLC’s holdings in Entergy were worth $3,089,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ETR. Sumitomo Mitsui Trust Holdings Inc. raised its position in Entergy by 0.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 511,645 shares of the utilities provider’s stock valued at $54,071,000 after acquiring an additional 1,992 shares in the last quarter. Norden Group LLC bought a new position in shares of Entergy in the first quarter valued at approximately $3,298,000. HB Wealth Management LLC raised its position in shares of Entergy by 32.2% in the first quarter. HB Wealth Management LLC now owns 3,342 shares of the utilities provider’s stock valued at $353,000 after purchasing an additional 814 shares during the period. Van ECK Associates Corp raised its position in shares of Entergy by 55.6% in the first quarter. Van ECK Associates Corp now owns 74,685 shares of the utilities provider’s stock valued at $7,893,000 after purchasing an additional 26,690 shares during the period. Finally, Private Advisor Group LLC raised its position in shares of Entergy by 32.1% in the first quarter. Private Advisor Group LLC now owns 6,195 shares of the utilities provider’s stock valued at $655,000 after purchasing an additional 1,505 shares during the period. Institutional investors own 88.07% of the company’s stock.

Insiders Place Their Bets

In other Entergy news, CEO Andrew S. Marsh sold 600 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $120.03, for a total transaction 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 approximately $18,092,241.93. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Andrew S. Marsh sold 600 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Andrew S. Marsh sold 3,200 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $121.46, for a total value of $388,672.00. Following the completion of the sale, the chief executive officer now directly owns 150,731 shares of the company’s stock, valued at approximately $18,307,787.26. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 50,810 shares of company stock valued at $6,140,626. 0.54% of the stock is currently owned by insiders.

Entergy Price Performance

NYSE ETR traded up $16.14 on Thursday, hitting $150.54. 924,490 shares of the company were exchanged, compared to its average volume of 1,563,971. The firm has a 50 day moving average of $128.48 and a two-hundred day moving average of $116.55. The company has a market cap of $32.19 billion, a P/E ratio of 17.46, a P/E/G ratio of 2.56 and a beta of 0.74. The company has a current ratio of 0.94, a quick ratio of 0.62 and a debt-to-equity ratio of 1.81. Entergy Co. has a 1-year low of $94.63 and a 1-year high of $150.57.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.16. The firm had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.98 billion. Entergy had a return on equity of 10.10% and a net margin of 14.75%. During the same period in the previous year, the business posted $1.84 EPS. On average, equities analysts predict that Entergy Co. will post 7.21 EPS for the current year.

Entergy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 13th will be issued a dividend of $1.20 per share. This is a boost from Entergy’s previous quarterly dividend of $1.13. This represents a $4.80 annualized dividend and a yield of 3.19%. The ex-dividend date is Wednesday, November 13th. Entergy’s payout ratio is currently 54.07%.

Analyst Upgrades and Downgrades

ETR has been the topic of a number of recent analyst reports. UBS Group lifted their price target on shares of Entergy from $143.00 to $144.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Bank of America lifted their price target on shares of Entergy from $135.00 to $138.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. BMO Capital Markets boosted their target price on shares of Entergy from $131.00 to $140.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 15th. Guggenheim lifted their price target on shares of Entergy from $118.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Morgan Stanley lifted their price target on shares of Entergy from $109.00 to $115.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $131.19.

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.