Thrive Wealth Management LLC Takes Position in Entergy Co. (NYSE:ETR)

Thrive Wealth Management LLC purchased a new position in shares of Entergy Co. (NYSE:ETR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,358 shares of the utilities provider’s stock, valued at approximately $252,000.

Several other institutional investors and hedge funds have also made changes to their positions in ETR. Tidemark LLC acquired a new position in Entergy during the 4th quarter worth approximately $25,000. Heritage Wealth Advisors increased its position in shares of Entergy by 2,172.7% in the 1st quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 239 shares during the last quarter. OLD Point Trust & Financial Services N A acquired a new stake in shares of Entergy in the 4th quarter valued at about $35,000. Newbridge Financial Services Group Inc. lifted its position in shares of Entergy by 40.0% during the first quarter. Newbridge Financial Services Group Inc. now owns 385 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 110 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its stake in Entergy by 134.3% in the first quarter. Venturi Wealth Management LLC now owns 396 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 227 shares in the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Entergy Stock Performance

Shares of ETR traded up $0.31 during midday trading on Friday, hitting $117.53. 1,148,311 shares of the stock traded hands, compared to its average volume of 1,528,779. The firm has a market capitalization of $25.10 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 2.29 and a beta of 0.71. The business’s 50 day moving average price is $109.88 and its two-hundred day moving average price is $106.33. Entergy Co. has a 1-year low of $87.10 and a 1-year 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.

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

Entergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 13th will be issued a $1.13 dividend. This represents a $4.52 annualized dividend and a yield of 3.85%. The ex-dividend date is Tuesday, August 13th. Entergy’s payout ratio is currently 45.34%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wells Fargo & Company upped their price objective on Entergy from $125.00 to $137.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Barclays lowered their target price on shares of Entergy from $116.00 to $115.00 and set an “equal weight” rating for the company in a research note on Monday, July 22nd. Morgan Stanley lowered their target price on shares of Entergy from $103.00 to $98.00 and set an “underweight” rating for the company in a research note on Monday, June 24th. LADENBURG THALM/SH SH reiterated a “neutral” rating and set a $109.50 target price (down previously from $117.00) on shares of Entergy in a research note on Wednesday, June 12th. Finally, Guggenheim boosted their target price on shares of Entergy from $118.00 to $128.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Entergy currently has a consensus rating of “Moderate Buy” and an average price target of $118.19.

Insider Buying and Selling

In other Entergy 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 value of $1,321,115.52. Following the sale, the chief operating officer now directly owns 37,888 shares in the company, valued at $4,363,182.08. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Entergy news, CEO Andrew S. Marsh sold 3,200 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $18,307,787.26. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Peter S. Norgeot, Jr. sold 11,472 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was 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 in the company, valued at approximately $4,363,182.08. The disclosure for this sale can be found here. 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.