SteelPeak Wealth LLC Buys 1,564 Shares of Entergy Corporation (NYSE:ETR)

SteelPeak Wealth LLC lifted its stake in shares of Entergy Corporation (NYSE:ETR) by 94.0% during the 4th quarter, HoldingsChannel reports. The firm owned 3,228 shares of the utilities provider’s stock after acquiring an additional 1,564 shares during the period. SteelPeak Wealth LLC’s holdings in Entergy were worth $245,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ETR. Legacy Investment Solutions LLC bought a new stake in shares of Entergy during the third quarter worth $27,000. Fortitude Family Office LLC boosted its holdings in shares of Entergy by 423.8% during the 3rd quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 178 shares in the last quarter. Cetera Trust Company N.A bought a new stake in Entergy during the 3rd quarter worth $29,000. Coastline Trust Co acquired a new position in Entergy in the 3rd quarter worth about $31,000. Finally, Ashton Thomas Securities LLC bought a new position in Entergy in the third quarter valued at about $42,000. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Entergy Price Performance

Entergy stock opened at $81.17 on Friday. The stock has a market capitalization of $34.81 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 2.44 and a beta of 0.71. Entergy Corporation has a 52-week low of $48.08 and a 52-week high of $84.26. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.59 and a current ratio of 0.89. The stock’s 50 day moving average price is $77.11 and its two-hundred day moving average price is $68.51.

Entergy (NYSE:ETR) last issued its earnings results on Thursday, October 31st. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.04. 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 prior year, the firm earned $1.64 earnings per share. On average, equities analysts predict that Entergy Corporation will post 3.59 earnings per share for the current year.

Entergy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 10th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.96%. Entergy’s payout ratio is currently 58.47%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. UBS Group boosted their price target on Entergy from $72.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Mizuho upped their price target on shares of Entergy from $69.00 to $82.50 and gave the company an “outperform” rating in a research report on Monday, November 4th. Barclays raised their price target on shares of Entergy from $68.50 to $76.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Royal Bank of Canada boosted their price objective on shares of Entergy from $68.50 to $70.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Morgan Stanley raised Entergy from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $58.00 to $75.00 in a research report on Monday, November 4th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Entergy has an average rating of “Moderate Buy” and an average price target of $79.81.

Insider Buying and Selling at Entergy

In other Entergy news, insider Haley Fisackerly sold 8,268 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $74.52, for a total value of $616,090.02. Following the transaction, the insider now directly owns 4,032 shares of the company’s stock, valued at approximately $300,444.48. This trade represents a 67.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eliecer Viamontes sold 400 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $73.50, for a total transaction of $29,400.00. Following the completion of the sale, the insider now owns 8,346 shares in the company, valued at $613,431. This represents a 4.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,756 shares of company stock valued at $1,095,637. Company insiders own 0.39% of the company’s stock.

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.