Spirit of America Management Corp NY Buys 1,300 Shares of Entergy Co. (NYSE:ETR)

Spirit of America Management Corp NY raised its stake in shares of Entergy Co. (NYSE:ETR) by 16.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,050 shares of the utilities provider’s stock after acquiring an additional 1,300 shares during the period. Spirit of America Management Corp NY’s holdings in Entergy were worth $1,191,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System increased its stake in Entergy by 6.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 234,595 shares of the utilities provider’s stock valued at $25,275,000 after buying an additional 13,882 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Entergy by 55.4% during the first quarter. Acadian Asset Management LLC now owns 14,877 shares of the utilities provider’s stock worth $1,571,000 after acquiring an additional 5,303 shares during the period. Meeder Asset Management Inc. purchased a new position in Entergy in the first quarter worth $1,245,000. Cetera Advisors LLC grew its stake in Entergy by 145.2% in the 1st quarter. Cetera Advisors LLC now owns 24,136 shares of the utilities provider’s stock valued at $2,551,000 after purchasing an additional 14,293 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its position in shares of Entergy by 17.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 41,605 shares of the utilities provider’s stock valued at $4,397,000 after purchasing an additional 6,197 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Entergy Price Performance

Shares of Entergy stock opened at $137.46 on Friday. The firm has a market capitalization of $29.39 billion, a PE ratio of 16.44, a price-to-earnings-growth ratio of 2.55 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 12 month low of $90.78 and a 12 month high of $137.70. The business’s 50-day moving average price is $126.75 and its 200-day moving average price is $115.48.

Entergy (NYSE:ETR) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.76 by $0.16. Entergy had a net margin of 14.75% and a return on equity of 10.10%. The firm had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same period last year, the firm posted $1.84 earnings per share. Sell-side analysts forecast that Entergy Co. will post 7.22 EPS for the current fiscal year.

Insider Activity

In related news, CEO Andrew S. Marsh sold 3,200 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $121.46, for a total transaction of $388,672.00. Following the transaction, the chief executive officer now directly owns 150,731 shares in the company, valued at $18,307,787.26. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Andrew S. Marsh sold 3,200 shares of Entergy stock in a transaction on Monday, August 5th. The shares were sold at an average price of $121.46, for a total value of $388,672.00. Following the transaction, the chief executive officer now directly owns 150,731 shares of the company’s stock, valued at $18,307,787.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Peter S. Norgeot, Jr. sold 11,472 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.16, for a total transaction of $1,321,115.52. Following the completion of the sale, the chief operating officer now directly owns 37,888 shares in the company, valued at approximately $4,363,182.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,810 shares of company stock valued at $6,140,626. 0.39% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Entergy from $125.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Bank of America increased their price objective on Entergy from $135.00 to $138.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Morgan Stanley boosted their target price on Entergy from $109.00 to $115.00 and gave the company an “underweight” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. boosted their price objective on Entergy from $131.00 to $141.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Finally, Guggenheim increased their target price on shares of Entergy from $118.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $131.19.

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.