Oppenheimer & Co. Inc. Buys 1,023 Shares of Entergy Co. (NYSE:ETR)

Oppenheimer & Co. Inc. lifted its stake in shares of Entergy Co. (NYSE:ETR) by 14.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,957 shares of the utilities provider’s stock after purchasing an additional 1,023 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Entergy were worth $1,047,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Bank & Trust Co boosted its position in shares of Entergy by 12.8% during the 3rd quarter. Bank & Trust Co now owns 795 shares of the utilities provider’s stock worth $105,000 after purchasing an additional 90 shares in the last quarter. Prossimo Advisors LLC boosted its position in shares of Entergy by 1.5% during the 3rd quarter. Prossimo Advisors LLC now owns 5,971 shares of the utilities provider’s stock worth $786,000 after purchasing an additional 90 shares in the last quarter. HBK Sorce Advisory LLC boosted its position in shares of Entergy by 2.3% during the 2nd quarter. HBK Sorce Advisory LLC now owns 4,075 shares of the utilities provider’s stock worth $436,000 after purchasing an additional 92 shares in the last quarter. Alliance Wealth Advisors LLC boosted its position in shares of Entergy by 3.7% during the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,591 shares of the utilities provider’s stock worth $341,000 after purchasing an additional 92 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. boosted its position in shares of Entergy by 5.4% during the 3rd quarter. CarsonAllaria Wealth Management Ltd. now owns 1,858 shares of the utilities provider’s stock worth $245,000 after purchasing an additional 95 shares in the last quarter. Institutional investors own 88.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Scotiabank raised their price target on shares of Entergy from $119.00 to $144.00 and gave the company a “sector perform” rating in a research report on Friday, November 1st. Guggenheim raised their price target on shares of Entergy from $145.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Royal Bank of Canada raised their price target on shares of Entergy from $137.00 to $140.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. KeyCorp raised their price target on shares of Entergy from $143.00 to $162.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, Barclays raised their price target on shares of Entergy from $137.00 to $152.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $150.42.

Entergy Trading Up 0.1 %

Shares of ETR stock opened at $149.20 on Tuesday. The company has a 50 day moving average of $135.56 and a 200-day moving average of $120.49. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 1.77. Entergy Co. has a 12-month low of $96.15 and a 12-month high of $156.85. The firm has a market cap of $31.99 billion, a P/E ratio of 18.17, a PEG ratio of 2.49 and a beta of 0.71.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $2.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.91 by $0.08. Entergy had a net margin of 14.83% and a return on equity of 9.53%. The company had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same quarter last year, the business posted $3.27 EPS. Sell-side analysts anticipate that Entergy Co. will post 7.21 earnings per share for the current year.

Entergy Increases Dividend

The firm also recently disclosed 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. This represents a $4.80 dividend on an annualized basis and a yield of 3.22%. This is a positive change from Entergy’s previous quarterly dividend of $1.13. The ex-dividend date is Wednesday, November 13th. Entergy’s payout ratio is currently 58.47%.

Insider Activity at Entergy

In related news, insider Haley Fisackerly sold 4,134 shares of Entergy stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $149.03, for a total value of $616,090.02. Following the completion of the transaction, the insider now directly owns 2,016 shares in the company, valued at approximately $300,444.48. The trade was a 67.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eliecer Viamontes sold 5,166 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $120.00, for a total transaction of $619,920.00. Following the transaction, the insider now owns 5,117 shares of the company’s stock, valued at $614,040. This trade represents a 50.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,472 shares of company stock worth $5,076,328. Corporate insiders own 0.39% of the company’s stock.

Entergy Profile

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.