Thrive Wealth Management LLC Makes New Investment in Entergy Co. (NYSE:ETR)

Thrive Wealth Management LLC purchased a new position in Entergy Co. (NYSE:ETR) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 2,358 shares of the utilities provider’s stock, valued at approximately $252,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Capital International Investors grew its holdings in shares of Entergy by 64.2% during the first quarter. Capital International Investors now owns 4,170,045 shares of the utilities provider’s stock valued at $440,690,000 after buying an additional 1,630,057 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Entergy by 25.2% during the fourth quarter. Franklin Resources Inc. now owns 3,961,859 shares of the utilities provider’s stock valued at $400,901,000 after buying an additional 796,316 shares during the last quarter. ClearBridge Investments Ltd grew its holdings in shares of Entergy by 29.3% during the fourth quarter. ClearBridge Investments Ltd now owns 3,115,468 shares of the utilities provider’s stock valued at $315,254,000 after buying an additional 706,059 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of Entergy by 9.8% during the fourth quarter. Federated Hermes Inc. now owns 2,904,933 shares of the utilities provider’s stock valued at $293,950,000 after buying an additional 258,806 shares during the last quarter. Finally, Capital Research Global Investors lifted its position in Entergy by 22.5% during the first quarter. Capital Research Global Investors now owns 2,753,248 shares of the utilities provider’s stock valued at $290,963,000 after purchasing an additional 505,705 shares during the period. 88.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO Peter S. Norgeot, Jr. sold 11,472 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $115.16, for a total transaction of $1,321,115.52. Following the sale, the chief operating officer now owns 37,888 shares of the company’s stock, valued at $4,363,182.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Entergy news, COO Peter S. Norgeot, Jr. sold 11,472 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $115.16, for a total value of $1,321,115.52. Following the sale, the chief operating officer now owns 37,888 shares of the company’s stock, valued at $4,363,182.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew S. Marsh sold 3,200 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $121.46, for a total transaction of $388,672.00. Following the completion of the sale, the chief executive officer now directly owns 150,731 shares in the company, valued at approximately $18,307,787.26. The disclosure for this sale can be found here. 0.39% of the stock is owned by insiders.

Entergy Stock Performance

Entergy stock traded up $0.31 during midday trading on Friday, hitting $117.53. 1,148,311 shares of the company’s stock were exchanged, compared to its average volume of 1,528,779. Entergy Co. has a 12-month low of $87.10 and a 12-month high of $123.61. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.45 and a current ratio of 0.94. The stock has a market cap of $25.10 billion, a price-to-earnings ratio of 11.79, a price-to-earnings-growth ratio of 2.29 and a beta of 0.71. The firm’s 50 day simple moving average is $109.88 and its 200 day simple moving average is $106.33.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.16. Entergy had a net margin of 14.75% and a return on equity of 10.10%. The business had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same period in the previous year, the business posted $1.84 earnings per share. Equities research analysts predict that Entergy Co. will post 7.21 EPS for the current year.

Entergy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 13th will be paid a dividend of $1.13 per share. The ex-dividend date is Tuesday, August 13th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.85%. Entergy’s dividend payout ratio (DPR) is 45.34%.

Analysts Set New Price Targets

ETR has been the subject of a number of research reports. KeyCorp boosted their target price on shares of Entergy from $112.00 to $123.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. BMO Capital Markets boosted their target price on shares of Entergy from $124.00 to $131.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. LADENBURG THALM/SH SH reiterated a “neutral” rating and issued a $109.50 price objective (down previously from $117.00) on shares of Entergy in a research report on Wednesday, June 12th. Mizuho upped their price objective on shares of Entergy from $107.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Finally, Wells Fargo & Company upped their price objective on shares of Entergy from $125.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $118.19.

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.