MML Investors Services LLC Has $1.62 Million Stake in Entergy Co. (NYSE:ETR)

Posted by on Mar 1st, 2023

MML Investors Services LLC boosted its stake in shares of Entergy Co. (NYSE:ETR – Get Rating) by 29.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,098 shares of the utilities provider’s stock after buying an additional 3,626 shares during the quarter. MML Investors Services LLC’s holdings in Entergy were worth $1,620,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ETR. Canada Pension Plan Investment Board lifted its holdings in Entergy by 4.4% in the third quarter. Canada Pension Plan Investment Board now owns 160,433 shares of the utilities provider’s stock valued at $16,144,000 after buying an additional 6,800 shares during the period. Aviva PLC grew its position in shares of Entergy by 24.3% during the 3rd quarter. Aviva PLC now owns 299,546 shares of the utilities provider’s stock worth $30,143,000 after buying an additional 58,596 shares during the period. Colonial Trust Advisors acquired a new position in shares of Entergy during the 3rd quarter valued at $172,000. Veritable L.P. boosted its stake in Entergy by 14.6% during the third quarter. Veritable L.P. now owns 5,540 shares of the utilities provider’s stock worth $557,000 after acquiring an additional 707 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in Entergy by 17.0% in the third quarter. Hsbc Holdings PLC now owns 200,488 shares of the utilities provider’s stock worth $20,503,000 after purchasing an additional 29,150 shares during the period. Institutional investors and hedge funds own 89.98% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ETR. BMO Capital Markets upped their price objective on shares of Entergy from $111.00 to $116.00 and gave the company an “outperform” rating in a report on Thursday, November 3rd. Bank of America lowered Entergy from a “buy” rating to a “neutral” rating and dropped their target price for the company from $135.00 to $119.00 in a report on Tuesday, January 3rd. Morgan Stanley decreased their price target on Entergy from $108.00 to $103.00 and set an “underweight” rating for the company in a report on Wednesday, February 22nd. StockNews.com upgraded Entergy from a “sell” rating to a “hold” rating in a research note on Friday, November 11th. Finally, Wells Fargo & Company increased their target price on shares of Entergy from $123.00 to $135.00 in a report on Wednesday, December 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $122.47.

Insider Transactions at Entergy

In other news, insider Haley Fisackerly sold 3,890 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $108.42, for a total transaction of $421,753.80. Following the transaction, the insider now owns 1,656 shares of the company’s stock, valued at approximately $179,543.52. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Haley Fisackerly sold 3,890 shares of the company’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $108.42, for a total transaction of $421,753.80. Following the transaction, the insider now owns 1,656 shares in the company, valued at $179,543.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Marcus V. Brown sold 12,500 shares of the firm’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $106.10, for a total transaction of $1,326,250.00. Following the completion of the transaction, the executive vice president now directly owns 9,129 shares in the company, valued at $968,586.90. The disclosure for this sale can be found here. Insiders sold a total of 16,579 shares of company stock valued at $1,768,537 over the last three months. Corporate insiders own 0.37% of the company’s stock.

Entergy Trading Down 3.0 %

Shares of ETR opened at $102.87 on Wednesday. Entergy Co. has a twelve month low of $94.94 and a twelve month high of $126.82. The stock has a market cap of $21.75 billion, a PE ratio of 19.09, a P/E/G ratio of 2.65 and a beta of 0.63. The company has a quick ratio of 0.43, a current ratio of 0.64 and a debt-to-equity ratio of 1.82. The business’s 50-day moving average price is $108.46 and its 200-day moving average price is $110.65.

Entergy (NYSE:ETR – Get Rating) last posted its quarterly earnings data on Thursday, February 16th. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.06. Entergy had a return on equity of 10.88% and a net margin of 8.01%. The company had revenue of $3.27 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same quarter last year, the company earned $0.76 earnings per share. On average, equities analysts forecast that Entergy Co. will post 6.68 EPS for the current fiscal year.

Entergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 1st. Shareholders of record on Friday, February 10th will be given a $1.07 dividend. The ex-dividend date of this dividend is Thursday, February 9th. This represents a $4.28 annualized dividend and a yield of 4.16%. Entergy’s payout ratio is 79.41%.

Entergy Profile

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Entergy Corp. is a holding company, which engages in electric power generation and distribution. It operates through the following segments: Utility and Entergy Wholesale Commodities. The Utility segment includes the generation, transmission, distribution, and sale of electric power and the operations of a natural gas distribution business.

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Institutional Ownership by Quarter for Entergy (NYSE:ETR)

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