Regal Investment Advisors LLC increased its position in Entergy Corporation (NYSE:ETR) by 15.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,848 shares of the utilities provider’s stock after purchasing an additional 1,024 shares during the period. Regal Investment Advisors LLC’s holdings in Entergy Corporation were worth $599,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in ETR. Benjamin F. Edwards & Company Inc. lifted its stake in Entergy Corporation by 46.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,300 shares of the utilities provider’s stock valued at $100,000 after acquiring an additional 410 shares during the period. Advisory Services Network LLC lifted its stake in Entergy Corporation by 2.1% during the 2nd quarter. Advisory Services Network LLC now owns 2,335 shares of the utilities provider’s stock valued at $179,000 after acquiring an additional 49 shares during the period. Parallel Advisors LLC lifted its stake in Entergy Corporation by 3.0% during the 2nd quarter. Parallel Advisors LLC now owns 2,448 shares of the utilities provider’s stock valued at $188,000 after acquiring an additional 71 shares during the period. BlueMountain Capital Management LLC bought a new position in Entergy Corporation during the 2nd quarter valued at about $204,000. Finally, IBM Retirement Fund lifted its stake in Entergy Corporation by 34.1% during the 2nd quarter. IBM Retirement Fund now owns 2,669 shares of the utilities provider’s stock valued at $205,000 after acquiring an additional 678 shares during the period. Institutional investors own 82.95% of the company’s stock.
Entergy Corporation (NYSE ETR) traded down $1.07 during midday trading on Monday, hitting $85.44. 89,429 shares of the stock traded hands, compared to its average volume of 1,209,255. Entergy Corporation has a 12-month low of $67.40 and a 12-month high of $87.95. The stock has a market cap of $15,540.00, a price-to-earnings ratio of 12.80, a P/E/G ratio of 1.78 and a beta of 0.57. The company has a quick ratio of 0.58, a current ratio of 0.78 and a debt-to-equity ratio of 1.61.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Thursday, November 9th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 4.17%. This is a positive change from Entergy Corporation’s previous quarterly dividend of $0.87. The ex-dividend date is Wednesday, November 8th. Entergy Corporation’s dividend payout ratio is currently -72.06%.
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Several research firms have issued reports on ETR. Morgan Stanley upped their target price on shares of Entergy Corporation from $82.00 to $84.00 and gave the company an “underweight” rating in a research note on Friday, September 8th. Jefferies Group LLC restated a “hold” rating on shares of Entergy Corporation in a research note on Friday, August 11th. Wells Fargo & Company restated an “outperform” rating and set a $96.00 target price (up previously from $90.00) on shares of Entergy Corporation in a research note on Wednesday, October 25th. Bank of America Corporation began coverage on shares of Entergy Corporation in a research note on Tuesday, October 24th. They set a “neutral” rating and a $86.00 target price on the stock. Finally, ValuEngine upgraded shares of Entergy Corporation from a “hold” rating to a “buy” rating in a research note on Monday, August 7th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $82.42.
In related news, insider Charles L. Rice, Jr. sold 9,234 shares of the stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $86.24, for a total value of $796,340.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Marcus V. Brown sold 1,500 shares of the stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $82.00, for a total transaction of $123,000.00. The disclosure for this sale can be found here. Insiders sold a total of 58,812 shares of company stock valued at $4,986,472 over the last three months. 0.24% of the stock is currently owned by insiders.
Entergy Corporation Profile
Entergy Corporation is a holding company. The Company is an integrated energy company engaged in electric power production and retail electric distribution operations. The Company operates through two business segments: Utility and Entergy Wholesale Commodities. The Utility segment includes the generation, transmission, distribution and sale of electric power to retail and wholesale customers in areas of Arkansas, Mississippi, Texas and Louisiana, including the City of New Orleans and operates a natural gas distribution business.
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