Old North State Wealth Management LLC Acquires 542 Shares of Entergy Co. (NYSE:ETR)

Old North State Wealth Management LLC raised its holdings in shares of Entergy Co. (NYSE:ETR) by 24.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,752 shares of the utilities provider’s stock after buying an additional 542 shares during the period. Old North State Wealth Management LLC’s holdings in Entergy were worth $363,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Norden Group LLC bought a new position in Entergy in the 1st quarter worth $204,000. Private Advisor Group LLC lifted its position in shares of Entergy by 32.1% during the 1st quarter. Private Advisor Group LLC now owns 6,195 shares of the utilities provider’s stock valued at $655,000 after buying an additional 1,505 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Entergy by 4.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,366 shares of the utilities provider’s stock valued at $4,042,000 after buying an additional 1,634 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Entergy by 49.3% in the 1st quarter. BNP Paribas Financial Markets now owns 238,527 shares of the utilities provider’s stock worth $25,208,000 after acquiring an additional 78,805 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in Entergy by 2.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 115,366 shares of the utilities provider’s stock worth $12,192,000 after acquiring an additional 2,356 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Argus upgraded shares of Entergy to a “strong-buy” rating in a research report on Wednesday, August 28th. Bank of America downgraded shares of Entergy from a “buy” rating to a “neutral” rating and upped their target price for the stock from $138.00 to $154.00 in a report on Monday. Morgan Stanley raised Entergy from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $116.00 to $150.00 in a report on Monday. Barclays dropped their price objective on Entergy from $138.00 to $137.00 and set an “overweight” rating for the company in a research note on Monday, October 7th. Finally, Guggenheim lifted their target price on Entergy from $145.00 to $165.00 and gave the company a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $145.88.

Entergy Trading Down 0.5 %

ETR stock opened at $144.10 on Monday. The firm has a market cap of $30.81 billion, a PE ratio of 17.64, a price-to-earnings-growth ratio of 2.93 and a beta of 0.71. The firm has a fifty day moving average price of $129.72 and a 200 day moving average price of $117.33. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.62 and a current ratio of 0.89. Entergy Co. has a fifty-two week low of $94.85 and a fifty-two week high of $156.85.

Entergy (NYSE:ETR) last posted its earnings results on Thursday, October 31st. The utilities provider reported $2.99 earnings per share for the quarter, topping analysts’ consensus estimates of $2.91 by $0.08. Entergy had a net margin of 14.83% and a return on equity of 9.53%. The firm had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same period in the previous year, the firm posted $3.27 EPS. Sell-side analysts anticipate that Entergy Co. will post 7.21 earnings per share for the current fiscal 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 given a dividend of $1.20 per share. This is a boost from Entergy’s previous quarterly dividend of $1.13. The ex-dividend date is Wednesday, November 13th. This represents a $4.80 dividend on an annualized basis and a yield of 3.33%. Entergy’s payout ratio is 55.05%.

Insider Activity

In related news, COO Peter S. Norgeot, Jr. sold 11,472 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $115.16, for a total transaction of $1,321,115.52. Following the transaction, the chief operating officer now directly owns 37,888 shares in the company, valued at approximately $4,363,182.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Andrew S. Marsh sold 600 shares of Entergy stock in a transaction on 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 in the company, valued at approximately $18,092,241.93. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Peter S. Norgeot, Jr. sold 11,472 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $115.16, for a total transaction of $1,321,115.52. Following the sale, the chief operating officer now directly owns 37,888 shares of the company’s stock, valued at $4,363,182.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,610 shares of company stock valued at $5,751,954. 0.39% of the stock is currently owned by company insiders.

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.