StoneX Group Inc. Boosts Holdings in Entergy Corporation (NYSE:ETR)

StoneX Group Inc. lifted its stake in shares of Entergy Corporation (NYSE:ETR) by 34.9% in the third quarter, Holdings Channel reports. The firm owned 19,152 shares of the utilities provider’s stock after buying an additional 4,958 shares during the period. StoneX Group Inc.’s holdings in Entergy were worth $2,521,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Iron Horse Wealth Management LLC purchased a new stake in Entergy during the 2nd quarter worth approximately $25,000. Cetera Trust Company N.A acquired a new stake in shares of Entergy in the third quarter worth approximately $29,000. Fortitude Family Office LLC increased its position in shares of Entergy by 423.8% during the third quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 178 shares in the last quarter. American National Bank raised its stake in Entergy by 93.7% in the 2nd quarter. American National Bank now owns 277 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 134 shares during the last quarter. Finally, Coastline Trust Co purchased a new position in Entergy in the 3rd quarter valued at $31,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

Entergy Stock Down 0.3 %

Shares of NYSE:ETR opened at $151.06 on Friday. The business has a 50-day moving average price of $137.74 and a 200 day moving average price of $121.57. Entergy Corporation has a 12-month low of $96.15 and a 12-month high of $156.85. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $32.39 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 2.53 and a beta of 0.71.

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

Entergy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 13th will be given a dividend of $1.20 per share. This is a positive change from Entergy’s previous quarterly dividend of $1.13. This represents a $4.80 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Wednesday, November 13th. Entergy’s dividend payout ratio (DPR) is currently 58.47%.

Insider Activity

In related news, insider Eliecer Viamontes sold 200 shares of Entergy stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $147.00, for a total value of $29,400.00. Following the completion of the transaction, the insider now owns 4,173 shares in the company, valued at approximately $613,431. The trade was a 4.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Andrew S. Marsh sold 19,200 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $120.35, for a total transaction of $2,310,720.00. Following the sale, the chief executive officer now owns 150,731 shares in the company, valued at approximately $18,140,475.85. This trade represents a 11.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,472 shares of company stock valued at $5,076,328. 0.39% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ETR has been the subject of a number of research reports. Mizuho upped their target price on shares of Entergy from $138.00 to $165.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. JPMorgan Chase & Co. increased their price objective on shares of Entergy from $131.00 to $141.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Royal Bank of Canada boosted their target price on Entergy from $137.00 to $140.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Wells Fargo & Company increased their price target on Entergy from $137.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, Barclays boosted their price objective on Entergy from $137.00 to $152.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Entergy currently has a consensus rating of “Moderate Buy” and an average target price of $150.42.

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.