Wedbush Securities Inc. Has $217,000 Holdings in Entergy Co. (NYSE:ETR)

Posted by Defense World Staff on Apr 19th, 2023

Wedbush Securities Inc. decreased its stake in Entergy Co. (NYSE:ETR – Get Rating) by 25.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,925 shares of the utilities provider’s stock after selling 643 shares during the quarter. Wedbush Securities Inc.’s holdings in Entergy were worth $217,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Lindbrook Capital LLC raised its position in shares of Entergy by 75.2% in the 4th quarter. Lindbrook Capital LLC now owns 233 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 100 shares during the period. Fairfield Bush & CO. acquired a new stake in Entergy in the first quarter worth $29,000. Affiance Financial LLC bought a new position in shares of Entergy during the fourth quarter worth $33,000. Mach 1 Financial Group LLC acquired a new position in shares of Entergy in the 3rd quarter valued at $38,000. Finally, Estabrook Capital Management acquired a new position in shares of Entergy in the 1st quarter valued at $48,000. Institutional investors own 89.98% of the company’s stock.

Entergy Price Performance

Shares of NYSE ETR opened at $108.58 on Wednesday. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.64 and a quick ratio of 0.43. The business has a 50-day moving average of $106.09 and a 200-day moving average of $108.13. The stock has a market capitalization of $22.95 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 2.68 and a beta of 0.65. Entergy Co. has a fifty-two week low of $94.94 and a fifty-two week high of $126.82.

Entergy (NYSE:ETR – Get Rating) last issued its quarterly earnings results on Thursday, February 16th. The utilities provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.45 by $0.06. The firm had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $2.65 billion. Entergy had a return on equity of 10.88% and a net margin of 8.01%. During the same period in the prior year, the firm posted $0.76 earnings per share. As a group, sell-side analysts predict that Entergy Co. will post 6.69 earnings per share for the current fiscal year.

Entergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Thursday, May 4th will be issued a dividend of $1.07 per share. The ex-dividend date is Wednesday, May 3rd. This represents a $4.28 dividend on an annualized basis and a yield of 3.94%. Entergy’s payout ratio is 79.41%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ETR shares. LADENBURG THALM/SH SH started coverage on Entergy in a report on Monday, April 3rd. They set a “buy” rating and a $116.00 target price on the stock. Citigroup decreased their price objective on Entergy from $131.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, April 12th. TheStreet upgraded shares of Entergy from a “c+” rating to a “b-” rating in a report on Monday. Mizuho reduced their price target on shares of Entergy from $114.00 to $113.00 and set a “buy” rating for the company in a report on Thursday, January 19th. Finally, Bank of America downgraded shares of Entergy from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $135.00 to $119.00 in a research report on Tuesday, January 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $121.41.

Insiders Place Their Bets

In other news, EVP Marcus V. Brown sold 12,500 shares of Entergy stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $106.10, for a total value of $1,326,250.00. Following the completion of the transaction, the executive vice president now owns 9,129 shares of the company’s stock, valued at approximately $968,586.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Haley Fisackerly sold 3,890 shares of the stock in a transaction on Monday, February 27th. The stock was sold at an average price of $108.42, for a total value of $421,753.80. Following the sale, the insider now owns 1,656 shares in the company, valued at approximately $179,543.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Marcus V. Brown sold 12,500 shares of Entergy stock in a transaction on Monday, February 27th. The stock was sold at an average price of $106.10, for a total transaction of $1,326,250.00. Following the transaction, the executive vice president now directly owns 9,129 shares of the company’s stock, valued at $968,586.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,092 shares of company stock valued at $1,821,838. 0.37% of the stock is currently owned by corporate insiders.

About Entergy

(Get Rating)

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.