Diversify Wealth Management LLC Lowers Stake in Entergy Co. (NYSE:ETR)

Diversify Wealth Management LLC reduced its stake in shares of Entergy Co. (NYSE:ETR) by 8.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,890 shares of the utilities provider’s stock after selling 165 shares during the quarter. Diversify Wealth Management LLC’s holdings in Entergy were worth $259,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Pathway Financial Advisers LLC raised its holdings in shares of Entergy by 21,143.2% in the third quarter. Pathway Financial Advisers LLC now owns 38,875 shares of the utilities provider’s stock valued at $5,116,000 after acquiring an additional 38,692 shares in the last quarter. GW Henssler & Associates Ltd. bought a new stake in shares of Entergy in the third quarter valued at about $14,525,000. Fortitude Family Office LLC raised its holdings in shares of Entergy by 423.8% in the third quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 178 shares in the last quarter. abrdn plc raised its holdings in shares of Entergy by 1.9% in the third quarter. abrdn plc now owns 107,966 shares of the utilities provider’s stock valued at $14,200,000 after acquiring an additional 1,984 shares in the last quarter. Finally, Pallas Capital Advisors LLC raised its holdings in shares of Entergy by 33.2% in the third quarter. Pallas Capital Advisors LLC now owns 3,301 shares of the utilities provider’s stock valued at $454,000 after acquiring an additional 822 shares in the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. KeyCorp boosted their price objective on shares of Entergy from $143.00 to $162.00 and gave the stock an “overweight” rating in a research note on Friday. Bank of America raised their price objective on Entergy from $135.00 to $138.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. raised their price objective on Entergy from $131.00 to $141.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Guggenheim raised their price objective on Entergy from $145.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday. Finally, UBS Group raised their price objective on Entergy from $143.00 to $144.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $141.96.

Entergy Price Performance

NYSE:ETR opened at $144.79 on Friday. Entergy Co. has a 12 month low of $94.85 and a 12 month high of $156.85. The stock has a 50 day moving average of $129.72 and a two-hundred day moving average of $117.12. The company has a current ratio of 0.94, a quick ratio of 0.62 and a debt-to-equity ratio of 1.81. The firm has a market cap of $30.96 billion, a P/E ratio of 17.64, a price-to-earnings-growth ratio of 2.54 and a beta of 0.74.

Entergy (NYSE:ETR) last issued its earnings results on Thursday, October 31st. The utilities provider reported $2.99 earnings per share for the quarter, topping the consensus estimate of $2.91 by $0.08. The business had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.46 billion. Entergy had a return on equity of 10.10% and a net margin of 14.75%. During the same period in the previous year, the firm posted $3.27 EPS. On average, analysts expect that Entergy Co. will post 7.21 earnings per share for the current fiscal year.

Entergy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 13th will be paid a $1.20 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $4.80 dividend on an annualized basis and a yield of 3.32%. This is an increase from Entergy’s previous quarterly dividend of $1.13. Entergy’s payout ratio is currently 58.47%.

Insider Buying and Selling

In related news, CEO Andrew S. Marsh sold 3,200 shares of Entergy stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $121.46, for a total value of $388,672.00. Following the completion of the transaction, the chief executive officer now owns 150,731 shares in the company, valued at $18,307,787.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Peter S. Norgeot, Jr. sold 7,922 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $130.00, for a total transaction of $1,029,860.00. Following the completion of the sale, the chief operating officer now owns 34,993 shares in the company, valued at approximately $4,549,090. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew S. Marsh sold 3,200 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $121.46, for a total transaction of $388,672.00. Following the sale, the chief executive officer now owns 150,731 shares of the company’s stock, valued at $18,307,787.26. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,810 shares of company stock worth $6,140,626 over the last 90 days. 0.39% of the stock is owned by insiders.

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.