Pinnacle Associates Ltd. Takes Position in Entergy Co. (NYSE:ETR)

Posted by Defense World Staff on Apr 21st, 2023

Pinnacle Associates Ltd. bought a new stake in Entergy Co. (NYSE:ETR – Get Rating) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,793 shares of the utilities provider’s stock, valued at approximately $204,000.

A number of other institutional investors have also modified their holdings of the stock. DekaBank Deutsche Girozentrale raised its stake in shares of Entergy by 4.2% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 37,081 shares of the utilities provider’s stock valued at $4,155,000 after purchasing an additional 1,508 shares in the last quarter. Atria Investments Inc raised its stake in shares of Entergy by 2.4% in the 4th quarter. Atria Investments Inc now owns 12,381 shares of the utilities provider’s stock valued at $1,393,000 after purchasing an additional 294 shares in the last quarter. Kestra Advisory Services LLC grew its position in shares of Entergy by 15.1% during the 4th quarter. Kestra Advisory Services LLC now owns 22,119 shares of the utilities provider’s stock valued at $2,488,000 after buying an additional 2,906 shares during the last quarter. AE Wealth Management LLC grew its position in shares of Entergy by 20.4% during the 4th quarter. AE Wealth Management LLC now owns 131,332 shares of the utilities provider’s stock valued at $14,775,000 after buying an additional 22,215 shares during the last quarter. Finally, IFG Advisory LLC grew its position in shares of Entergy by 3.9% during the 4th quarter. IFG Advisory LLC now owns 3,331 shares of the utilities provider’s stock valued at $374,000 after buying an additional 126 shares during the last quarter. Institutional investors and hedge funds own 89.98% of the company’s stock.

Insider Activity

In related news, insider Haley Fisackerly sold 3,890 shares of the stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $108.42, for a total transaction of $421,753.80. Following the completion of the sale, the insider now directly owns 1,656 shares of the company’s stock, valued at $179,543.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Haley Fisackerly sold 3,890 shares of the stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $108.42, for a total transaction of $421,753.80. Following the completion of the sale, the insider now directly owns 1,656 shares of the company’s stock, valued at $179,543.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Deanna D. Rodriguez sold 300 shares of the stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $103.96, for a total transaction of $31,188.00. Following the sale, the insider now directly owns 3,269 shares of the company’s stock, valued at $339,845.24. The disclosure for this sale can be found here. Insiders sold 17,092 shares of company stock worth $1,821,838 over the last three months. Corporate insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ETR. Citigroup lowered their price objective on shares of Entergy from $131.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, April 12th. Morgan Stanley boosted their price objective on shares of Entergy from $97.00 to $106.00 and gave the company an “underweight” rating in a research report on Thursday. Bank of America downgraded shares of Entergy from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $135.00 to $119.00 in a research report on Tuesday, January 3rd. LADENBURG THALM/SH SH assumed coverage on shares of Entergy in a research report on Monday, April 3rd. They set a “buy” rating and a $116.00 price objective for the company. Finally, StockNews.com assumed coverage on shares of Entergy in a research report on Thursday, March 16th. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Entergy has a consensus rating of “Hold” and a consensus target price of $121.94.

Entergy Trading Down 0.7 %

Entergy stock opened at $108.62 on Friday. The firm has a 50 day simple moving average of $106.27 and a 200-day simple moving average of $108.14. 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 stock has a market capitalization of $22.96 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 2.71 and a beta of 0.65. Entergy Co. has a 12-month low of $94.94 and a 12-month high of $126.82.

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. The business had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $2.65 billion. Entergy had a net margin of 8.01% and a return on equity of 10.88%. During the same period last year, the firm posted $0.76 earnings per share. As a group, equities research analysts expect that Entergy Co. will post 6.69 EPS for the current fiscal year.

Entergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Thursday, May 4th will be issued a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 3.94%. The ex-dividend date is Wednesday, May 3rd. Entergy’s dividend payout ratio (DPR) is presently 79.41%.

Entergy Company 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.